SAN DIEGO, CA, July 7, 2000 - ImageWare Systems, Inc. (AMEX:IW) announced today that it has signed a definitive agreement to acquire Imaging Technology Corporation ("ITC") of Hudson, MA in a stock transaction.

The agreement is subject to certain conditions and is anticipated to close on or about July 14, 2000. Founded in 1994, ITC develops digital imaging software for photo identification cards and documents. ITC's software is used for driver's licenses, voter registration programs, national ID programs, passport programs and for public and private security applications.

ITC sells its ID software worldwide through OEMs, agents, resellers and system integrators such as Sensormatic/Software House, Polaroid, and Cardkey/Johnson Control.

ITC has powered solutions ranging from a Polaroid branded ID card product, ID CardmakerTM, to full identification solutions for Massachusetts Institute of Technology, the U.S. Bureau of Engraving and Printing, JFK International Airport and for the countries such as Nigeria and Peru.

ImageWare's Chairman and CEO, Jim Miller stated "Expanding our product offering into the secure identification card market has always been a strategic objective of ImageWare's and we are excited to have the demonstrated capabilities of ITC under the ImageWare roof. ImageWare's strength in managing large image databases and in integrating with legacy systems, coupled with ITC's identification card experience and international presence, will result in a combined organization better positioned to aggressively expand into multiple public and private markets around the world."

Charles Benz the Chairman of ITC added, "The synergy between ImageWare and ITC is tremendous since the disparate markets our two companies target often converge. With our combined experience, resources and complimentary competencies, we are poised to be the leading provider for the rapidly expanding number of domestic and international customers looking to replace traditional photographic solutions with more powerful digital systems."

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.

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