Intelligent Communication Enterprise and One Horizon Group Progress Towards Closing

Fri Nov 23, 2012 4:45am EST

* Reuters is not responsible for the content in this press release.

  SINGAPORE and LONDON, Nov 23 (Marketwire) -- 
Intelligent Communication Enterprise Corporation (OTCQB: ICMC) (ICE Corp)
and One Horizon Group Plc. who entered into an Agreement of Securities
Exchange in October 2012, jointly announced today that ICE Corp.'s offer
has been accepted by 98% of the One Horizon Group shareholders. One
Horizon Group are expecting 100% acceptance of the offer. The
shareholders of One Horizon Group were offered 175.14 shares of ICE
Corp's common stock in exchange for each One Horizon Group share. The
transaction is subject to standard closing conditions contained in the
Agreement of Securities Exchange. The companies are now working through
certain compliance requirements in final preparation for closing which is
expected to take place shortly.

    "We are extremely pleased with the response from our shareholders which
we regard as a resounding agreement with the company's decision to seek
to be quoted in the US markets," stated Mark White, the CEO of One
Horizon Group, who will assume the position of CEO for ICE Corp. upon
closing. "One Horizon Group is well on track with its business plans and
is currently trading to expectations. Upon closing this deal with ICE
Corp we intend to actively pursue the objective criteria for listing on
the NASDAQ Capital Market. We believe that a NASDAQ listing, instead of
continued quotation on the OTC markets, will be hugely beneficial to both
One Horizon Group shareholders and the existing ICE Corp shareholders,"
added Mr. White.

    "One Horizon Group is a solid company with outstanding innovative
products. I am pleased for all our shareholders, and would like to thank
them for their patience and support, which I believe will be rewarded
with much better prospects following the closing of this deal with One
Horizon Group," commented Victor Jeffery the current CEO of ICE Corp.

    About One Horizon Group

    One Horizon Group's business is to optimize communications over the
Internet. It is the parent company of Horizon Globex. Horizon Globex
develops the Group's Horizon solution, which is the world's most
bandwidth-efficient mobile VoIP platform for smartphones, and also offers
a range of other optimized data applications including messaging and
mobile advertising. It is an ISO 9001 and ISO 20000-1 certified company.
The Group has operations in the Switzerland, UK, China, Russia, India,
Thailand, Singapore and Hong Kong. For more information on the company,
its products and services, please visit http://www.onehorizongroup.com 

    About Intelligent Communication Enterprise

    Intelligent Communication Enterprise Corp. is a Pennsylvania, USA
Corporation and is in the media and publishing business. ICE Corp stock
trades in the over-the-counter market in the United States of America and
is currently quoted for trading on the OTCQB market under the ticker
symbol ICMC. For more information about ICE Corp. visit
http://www.icecorpasia.com 

    Safe Harbor Statement

    This news release may contain "forward-looking" statements. These
forward-looking statements are only predictions and are subject to
certain risks, uncertainties and assumptions that could cause actual
results to differ from those in the forward looking-statements. Potential
risks and uncertainties include such factors as the risk that the
Agreement of Securities Exchange does not close. Additional risks and
uncertainties are identified and described in Ice Corp's SEC reports.
Actual results may differ materially from the forward-looking statements
in this press release. Statements made herein are as of the date of this
press release and should not be relied upon as of any subsequent date.
ICE Corp does not undertake, and ICE Corp specifically disclaims, any
obligation to update any forward-looking statements to reflect
occurrences, developments, events, or circumstances after the date of
such statement.

    

CONTACT:
Intelligent Communication Enterprise Corporation: 
contact@icecorpasia.com 

One Horizon Group Plc:
investor.relations@onehorizongroup.com 

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