Mr. Mark Elfenbein reports

SLYCE INC. CONTRACTS WITH JCPENNEY TO PROVIDE MOBILE VISUAL SEARCH TECHNOLOGY

Slyce Inc. has signed a contract with United States retailer JCPenney to power visual search for mobile commerce.

Slyce chief executive officer Mark Elfenbein said of the announcement, "We are very excited to be deploying our technology with JCPenney."

Slyce will derive revenues from the contract through monthly recurring software licensing and service fees, in line with its current pricing model, over the three-year term of the contract.

About JCPenney

J.C. Penney Company Inc., one of the nation's largest apparel and home furnishing retailers, is dedicated to fitting the diversity of America with unparalleled style, quality and value. Across approximately 1,060 stores and at the JCPenney website, customers will discover a broad assortment of national, private and exclusive brands to fit all shapes, sizes, colours and wallets.

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