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(COMTEX) B: PubliCARD, Inc. Announces First Quarter Results
B: PubliCARD, Inc. Announces First Quarter Results

NEW YORK, May 15, 2003 /PRNewswire-FirstCall via COMTEX/ -- PubliCARD, Inc.
(OTC Bulletin Board: CARD) reported its financial results for quarter ended
March 31, 2003.

Sales for the first quarter of 2003 were $1,413,000, compared to $1,199,000 a
year ago. The improvement in sales resulted primarily from revenues realized on
several one-time custom development projects in the first quarter of 2003. The
Company reported net income for the quarter ended March 31, 2003 of $1,000,000,
or $0.04 per share, compared with a net loss of $1,269,000, or $0.05 per share,
a year ago. The first quarter 2003 results include a gain of $1,707,000 relating
to two separate settlements with various historical insurers that resolve
certain claims (including certain future claims) under policies of insurance
issued to the Company by those insurers.

As of March 31, 2003, cash and short-term investments totaled $1,622,000. In
April 2003, the Company received $682,000 relating to the previously mentioned
insurance settlements.

About PubliCARD, Inc.

Headquartered in New York, NY, PubliCARD, through its Infineer Ltd. subsidiary,
designs smart card solutions for educational and corporate sites. The Company's
future plans revolve around a potential acquisition strategy that would focus on
businesses in areas outside the high technology sector while continuing to
support the expansion of the Infineer business. However, the Company will not be
able to implement such plans unless it is successful in obtaining additional
funding, as to which no assurance can be given. More information about PubliCARD
can be found on its web site www.publicard.com.