Intercede Trading Update for Year Ended 31 March 2011

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Intercede reports continued growth in sales revenues, profit and cash for the financial year just ended.

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Richard Parris, Chairman & Chief Executive of Intercede, said today: "Intercede has delivered another strong performance, driven by an increasing demand for products and technologies that enable customers to achieve enhanced levels of cyber security."

We are pleased to report continued growth in sales revenues, profit and cash for the financial year just ended.

Pre audit indications are that the results for the year ended 31 March 2011 are in line with market expectations with revenues approximately 10% ahead of the previous year's reported revenues of £6.2m and pre tax profits in the region of £2.0m (2010: £0.5m).

As a result of this performance, cash balances totalled £6.0m as at 31 March 2011 which compares to £4.7m at the same time last year.

Richard Parris, Intercede Chairman & Chief Executive, said:

"Intercede has delivered another strong performance, driven by an increasing demand for products and technologies that enable customers to achieve enhanced levels of cyber security.

"This growth has been achieved in spite of the cancellation of the UK National Identity Scheme by the newly elected government, from which we had previously expected to earn revenues. We have nevertheless been able to secure new business from other areas - a testament to the strength of the business.

"We expect to see even stronger revenue growth over the next 12-24 months, fuelled by significant and increasing investment in new markets and new partners. We are confident that a combination of enhanced levels of functionality and compliance with more stringent security standards will protect and expand our industry leadership."

Intercede expects to announce its full year results for the year ended 30 March 2011 by mid June 2011.

About Intercede

Intercede is the producer of the MyID Identity and Credential Management System (IDCMS).

Intercede MyID technology is being used around the world by large corporations, governments and banks to manage millions of identities for employees, citizens and customers. Notable deployments in the US include 14 Federal Agencies, 1.7m smart cards in support of the US Transportation Worker Identity Credential program, two major US financial institutions and 310,000 smart corporate identity badges for Lockheed Martin and another defense contractor. In Europe and the Middle East, Intercede MyID is being deployed in support of government identity, health and corporate employee ID security projects.

Further Information on Intercede MyID

Intercede MyID is the only IDCMS software product that enables organisations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing: secure registration, biometric capture, application vetting and approval through to smart card personalisation, issuance and management.

Intercede MyID was the first electronic personalization product to achieve compliance with the FIPS-201 standard and is widely deployed by Federal Agencies, government contractors and other commercial entities. In particular, it supports the latest standards applicable for all PIV, PIV-Interoperable and PIV-Compatible deployments.

It can issue and manage a wide variety of ID's and credential's, providing customers with a platform that can meet their needs now and in the future. It is a fully supported commercial off-the-shelf product that can be quickly deployed for thousands or millions of users.

For more information visit http://www.intercede.com

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Andrew Walker
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