PubliCARD Signs Letter of Intent to Acquire Greystone Peripherals, Inc.

FAIRFIELD, Conn.--(BUSINESS WIRE)--Dec. 30, 1998--PubliCARD, Inc. (Nasdaq:CARD) today announced it signed a letter of intent to acquire California-based Greystone Peripherals, Inc. ("Greystone"). Terms of the proposed transaction were not disclosed.

Greystone Peripherals, Inc., founded in 1992, is a developer of PC Card (PCMCIA products), hard disk duplicators, and digital camera flash film readers. The Company designs, manufactures and markets these three lines of proprietary computer peripherals for OEMs, system integrators, VARs/VADs and end users. Greystone's innovative products support PC Card (PCMCIA), including the CardDock PCMCIA card reader/writer, DataFast products for affordable, high speed software duplication onto hard disks, and digital camera readers for flash-based image management using PC cards. Greystone has both hardware and software capability and is currently positioned to develop products directed specifically at the smart card market. Greystone is headquartered in Los Gatos, California.

James J. Weis, PubliCARD's president and chief executive officer, noted, "Greystone's high quality, affordable and innovative computer peripheral products will serve to augment PubliCARD's existing card-based product offering. The planned acquisitions of Greystone and more recently, Amazing Smart Card Technologies, Inc., coupled with the acquisition of Tritheim Technologies, Inc. and the formation of Greenwald Intellicard earlier this year, clearly demonstrate our continued dedication to position PubliCARD as a significant player in the U.S smart card industry."

Consummation of the acquisition is subject to, among other things, negotiation and execution of a mutually satisfactory definitive acquisition agreement and satisfaction or waiver of the conditions that may be specified in such an agreement.

PubliCARD Inc., headquartered in Fairfield, Connecticut, is a developer and manufacturer of smart card systems, software and components for applications in cable and broadcast access, Internet and network data security, electronic commerce, commercial laundry equipment, and the parking and access control industries. The Company also designs and manufactures coin meters used in the commercial laundry industry and provides general engineering design and architectural services. Visit PubliCARD's website at www.publicard.com.

Special Note Regarding Forward-Looking Statements: Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include but are not limited to the Company's ability to complete the acquisition of Greystone Peripherals and Amazing Smart Card Technologies and to successfully implement its acquisition strategy including the identification, financing and consummation of any acquisition transaction. For more information on the potential factors, which could affect the company's financial results, refer to the Company's most recent SEC reports, including the Form 10-K for the year ended December 31, 1997.