Receives 2008 Growth Excellence of the Year Award

AIX-EN-PROVENCE, France, September 22, 2008 – INSIDE Contactless, a leading provider of advanced, open-standard contactless chip technologies, today announced the company has been recognized with the 2008 Frost & Sullivan North American Contactless Smart Cards Growth Excellence of the Year Award, in recognition of its role as a leader in shaping contactless payment technology in the smart card industry.  The Frost & Sullivan Growth Excellence of the Year Award is bestowed each year upon the company that has demonstrated excellence in implementing and sustaining growth within shipments, revenues and profitability, and whose strategy will have a lasting impact on the market.

Frost & Sullivan credits INSIDE as one of the first companies to have designed a multi-application platform for contactless payment functions.  The research and growth consulting firm recognized that such an early move propelled the company into a position of excellence in terms of technology innovation, enhanced its understanding of the market, and helped it gather valuable experience to stay ahead of competition.  Frost & Sullivan also attributed INSIDE’s exponential sales growth primarily to its low-power, flexible MicroPass intelligent payment platform, which is designed specifically to support the contactless bank card market with extension into transit fare collection, access, control, and retail loyalty applications.

“INSIDE has achieved credibility in the industry not just by being a pioneer in contactless payment, but also by going the extra mile to solve consumer needs and address concerns,” said Shyam Krishnan, research analyst at Frost & Sullivan.  “With a strong position in terms of technology innovation, an established name in the market, a loyal and wide partner network, and a booming market in which to operate, INSIDE Contactless is poised to become one of the leading players in the contactless smart cards market space.”

“It is very gratifying to be recognized for our leadership and excellence in this industry,  the rapid acceptance of contactless payments in the U.S. has been a great reward for the INSIDE Contactless team,” said Rémy de Tonnac, chief executive officer.  “We will not rest on these laurels, however, and we have many exciting new developments in the works to ensure that we keep meeting our customers’ expectations and  maintain our drive in this industry.”

Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.