X0202 4 2006-08-20 0 0000081050 PUBLICARD INC CARD.OB 0000924413 FREUND HARRY I C/O BALFOUR INVESTORS ONE ROCKEFELLER PLAZA, 14TH FLOOR NEW YORK NY 10020 1 0 0 0 Common Stock 5454 I By Spouse Common Stock 506503 I By Keogh Plan Common Stock 13000 I By Balfour Defined Benefits Pension Plan Stock Options 0.39 2001-08-20 2011-08-20 Common Stock 275000 275000 D Stock Options 0.39 2006-08-22 4 J 0 225000 0.39 D 2001-08-20 2006-08-20 Common Stock 225000 0 D Stock Options 0.025 2005-08-04 2010-08-04 Common Stock 30000 30000 D Stock Options 0.03 2006-08-04 2011-08-04 Common Stock 30000 30000 D Mr. Freund disclaims beneficial ownership of the 5,454 shares of PubliCARD Common Stock held by his wife. Shares are held by the Balfour Defined Benefits Pension Plan (the "Plan"), of which Mr. Freund is a Trustee and Plan Administrator and in which Mr. Freund is a participant. Mr. Freund disclaims beneficial ownership of 5,850 shares of Common Stock held by the Plan (based on Mr. Freund's proportionate interest in the Plan of approximately 55%). Options have been granted pursuant to an agreement with PubliCARD under which PubliCARD had agreed to reissue 500,000 options which were cancelled on February 16, 2001 for 500,000 options with an exercise price equal to the closing market price of PubliCARD's Common Stock on such reissuance date. Pursuant to the agreement, one-third of the options vested on August 20, 2001, with the balance vesting quarterly over the following twelve quarters. Options have been granted pursuant to PubliCARD's 1999 Long-Term Incentive Plan. Options have expired. Options have been granted pursuant to PubliCARD's Non-Employee Director Stock Option Plan. /s/HARRY I. FREUND 2006-08-20