ImageWare to Showcase Enhancement of Its EPISUITE ID Card Product at CTST 2002
SAN DIEGO, CA, April 22, 2002 - ImageWare Systems, Inc. (AMEX:IW) has signed an exclusive agreement with a first-year commitment of $1 million with Comprehensive Identification Products, Inc. (CIPI). Under the terms of this agreement, CIPI will distribute the EdiGuard IDX 380 Re-transfer Card Printer Subsystem in the Americas. This agreement was concluded by ImageWare's German subsidiary, Digital Imaging International GmbH. The IDX 380 Re-transfer Card Printer is manufactured for ImageWare by Victor Data Systems, a subsidiary of JVC Corporation, under an OEM agreement. ImageWare's German subsidiary is supplying the high security overlamination modules for the system.
The IDX 380 Re-transfer Card Printer is the latest generation technology for the production of smart chip and optical storage cards, which have surged in demand since 9/11. The IDX 380 Re-transfer Card Printer dramatically improves the quality of the dye sublimation process typically used and offers greater reliability in personalizing chip cards with uneven surfaces.
"Not only does this agreement complement ImageWare's law enforcement and smart ID card applications, but it will also generate revenue each time the IDX 380 Re-transfer Card Printer is used to print ID cards using ImageWare software," said Jim Miller, ImageWare CEO. "Additional revenue will be generated by offering ImageWare proprietary software and hardware extensions with the printing system and by capturing a share of recurring revenues through the sale of high security overlaminates with holograms."
"This third generation Re-transfer Printer Subsystem sets new industry standards in quality and performance at a much more affordable price," Miller said. "The agreement with CIPI enhances the technology we offer our customers."
About ImageWare Systems, Inc.
ImageWare Systems, Inc. (AMEX:IW), is a leading developer and provider of identity management solutions, providing biometric, secure credential, law enforcement and digital imaging technologies. Scalable for worldwide deployment, the Company's biometric product line includes a multi-biometric engine that is hardware and algorithm independent, enabling the enrollment and management of unlimited population sizes. ImageWare's identification products are used to manage and issue secure credentials including national IDs, passports, driver licenses, smart cards and access control credentials. ImageWare's digital booking products provide law enforcement with integrated mug shot, fingerprint Livescan and investigative capabilities. The Company also provides comprehensive digital workflow solutions for the professional photography industry. ImageWare is headquartered in San Diego, with offices in Washington DC and Canada. For more information visit www.iwsinc.com.
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This news release may contain forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
