Technology, Payment and Security Industries Leaders will Steer Company as it Creates new Digital Commerce Platform for Consumer Devices

Cambridge, MA December 15, 2006 - iCache, a pioneer in the development of software that transforms mobile devices into ultra secure digital wallets, today announced the formation of its board of advisors. Executives advising iCache have been assembled from leading companies in the banking, security and technology industries, and will help steer the company as it brings a new digital commerce platform for consumer devices to market.

iCache was recently named one of New England's "hottest" young companies by youngStartup Ventures, host of The 2006 New England Venture Summit.

iCache was formed to introduce a new, ultra-secure, digital commerce platform based on commonly-available consumer devices. The iCache platform requires no changes to merchants' point of sale infrastructure and will help banking institutions in their battle for customers' share of wallet, spending, retention and security. Consumers using the iCache platform enjoy an unprecedented level of convenience, control and security over their personal information; and merchants achieve tremendous data integrity and security with the elimination of charge-backs and an increase in the value of their loyalty data.

iCache's Board of Advisors includes:

Tom Colatosti - Chairman, iCache Board of Advisors
Thomas J. Colatosti is CEO and founder of American Security Ventures (ASV). Prior to founding ASV, Mr. Colatosti was President and CEO of Viisage Technology, a publicly traded leader in biometric face-recognition technology and in the delivery of highly secure, high-quality identification documents and systems. Viisage security technology and products are used by airports, the U.S. Government, the Department of Defense, numerous Departments of Motor Vehicles, and in physical and electronic access control applications.

Col. W. Earl Walker, Ph.D.
Dr. Walker is the Dean of Business Administration at the Citadel in Charleston, South Carolina. He and the faculty have finalized a new mission and vision for the School of Business Administration, developed an Advisory Board containing senior executives, started a mentors program, a new Citadel Executive Institute, a Leadership Forum, partnerships with business and not-for-profit organizations in the Lowcountry, as well as other new initiatives that have helped The Citadel reach out into the community.

Previously he served as Dean and Professor of the Helzberg School of Management at Rockhurst University in Kansas City, Missouri and Dean and Professor of Management in the School of Business at Our Lady of the Lake University in San Antonio, Texas. In these positions he led business schools that redesigned themselves to include new mission and vision statements and initiated such new initiatives as an Information Technology Leadership Program, MBAs in Health Care and Electronic Commerce Management, and a Center for Leadership.

Peter Blacklow
Peter Blacklow is President of FUN Games, which is owned by Liberty Media. Prior to being acquired by FUN Games Peter was with WorldWinner as vice president and chief marketing officer, responsible for enhancing the consumer experience by leading all marketing efforts for WorldWinner, including branding, direct response and player services.

Prior to joining WorldWinner, Peter served as senior vice president of marketing at Monster, the largest global careers website, where he was responsible for advertising, promotions, public relations and business-to-business direct marketing. Among Peter's many successes at Monster, he negotiated and activated the company's U.S. Olympic sponsorship and helped Monster become a top 20 most visited web destination.

David Evans, PhD
Dr. David S. Evans is the Founder of Market Platform Dynamics, Managing Director of LECG's Global Competition Policy Practice and a Visiting Professor at University College London. David is a leading global authority on two-sided strategies and platform-based industries, having worked with leading organizations in the payment card, software, and digital media businesses for more than twenty-five years. He is the author of several books, most recently Paying with Plastic: The Digital Revolution in Buying and Borrowing, which has been called the "definitive source on the payment card industry." He is also the author of MPD's Inflection Point Series which delivers critical new thinking on the business challenges facing the payment industry today.

Jeff Grady
Having pioneered some of the first, Internet-enabled electronic commerce systems, Jeff Grady is an entrepreneur who has been using the Internet for the past 10 years to build, run and support consumer products businesses. Jeff is the Founder, CEO and President of Digital Lifestyle Outfitters (DLO); a company that creates, designs, sells, markets and distributes a growing line of branded accessories that enhance cutting-edge, portable, digital devices.

Antonio Hofbauer
Most recently Antonio served as Corporate Development Manager at Virgin USA. Prior to Virgin, Antonio was executive at American Express where he helped launch their PrePaid card. Early in his career, he served as an analyst at McKinsey. Antonio is a graduate of Yale University.

Karen Webster
Karen is the President and Co-Founder of Market Platform Dynamics. Karen has extensive management consulting experience, having worked at PricewaterhouseCoopers for nearly a decade, serving as Managing Director of Global Marketing and Planning for its Management Consulting practice.

"I couldn't be more excited about this board's level of talent and expertise and their commitment to extend themselves in support of iCache's vision and business," said Jonathan Ramaci, Founder and CEO, iCache. "Each of the members of this board has achieved incredible success in their respective industries. Their combined guidance, contacts and passion for iCache will serve the company well as it prepares to bring an exciting new payments concept to market. We can't say enough how proud we are at iCache to have such a prestigious group of advisors. With their help, iCache will quickly become our market's leader."

About iCache:
iCache is the emerging leader in the development of groundbreaking software and hardware which transforms mobile devices into ultra secure digital commerce platforms. iCache is capitalizing on the growing adoption of RFID-enabled payment solutions and the need for secure payment and individual data transfer systems. The company's iCache software and hardware solutions build on emerging platforms while adding significant new functionality, security, and cost effectiveness for consumers, financial institutions, and merchants.

Media Contact:
Jason Magner
PAN Communications
978-474-1900
icache@pancomm.com