In Sep-08, ICP signed agreements with Yunnan Nantian (Nantian) to become a technical partner in the provision and transfer of ATMs and payments technology in a cooperation to enter the Chinese market.

Nantian is listed on the Shenzhen Stock Exchange and has been a leading IT systems and banking automation integrator in China for over 20 years. Nantian has completed over 1,000 banking applications running in more than 20,000 bank branches and operates 3,000 ATMs throughout China. In FY08, Nantian recorded revenues of A$380m and NPAT of A$7.0m, an increase of 20% over the previous year.

ICP will develop a Chinese certified ATM to meet specifications set down by Nantian product a pilot in partnership with Nantian to install ATMs in Nantian's bank customers and other high traffic / transaction areas. The purpose of the pilot is to demonstrate and confirm the reliability and robustness of ICP's technology.

ICP will supply ATMs, management and payments technologies. Nantian is the exclusive supplier of site locations, installation, operating maintenance, technical and after sales service and will be responsible for the delivery of commercial orders.

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