ABnote's central Global Technology Team (GTT) drives innovation into our markets, by developing and investing in cutting-edge products, systems and services. One result of these efforts has been a comprehensive program to expand upon our leading position in the plastic card market by moving into the emerging mobile applications market, through Near Field Communication.

Near Field Communication (NFC)

The GTT is spearheading ABnote's novel approach to near field communication (NFC), and the creation of secure data centers to support NFC and other critical processes for valued customers. At the heart of this effort is a core philosophy that payment applications alone are not the end-all for NFC, but only the start. Through our Proxama and Redwave subsidiaries, ABnote offers a complete turnkey approach to NFC, supporting a spectrum of products, services and applications for a range of RFID-enabled devices.

Proxama

Proxama is our UK based subsidiary that focuses on NFC, interactive TV, and loyalty. Proxama is the unparalleled leader in smart poster applications, and is driving programs to empower their customers to understand how NFC can benefit them, including their tangible and intangible ROI. We have in-depth experience in smart cards, mobile phones, and interactive TV, and understand how to combine these technologies to deliver the best solutions for payments and ticketing, loyalty, and service discovery.

Redwave

The ABnote Group's newest business unit is Redwave Solutions. Redwave further positions us within the NFC market, helping to align the NFC ecosystem and market growth with the needs of existing card industry stakeholders. The Company's primary offering is a network of global operation of data centers, hosting and operating applications for the NFC ecosystem. Key features of this offering include:

• Secure initialization, personalization and loading of Midlets and applications
• Trusted relationship management between issuing partners and mobile operators
• Management of third party applications that may include hosted services
• Global interoperability and disaster recovery services
• Product sales that include associated NFC product devices such as mobile phones, tags, smart posters and other RF enabled devices