Bank of Cairo Places Order For 1,000 TouchSafe II Units For Transaction Authorization
SUNNYVALE, Calif.--(BUSINESS WIRE)--May 14, 1998--Identix Inc. (ASE: IDX - news), a leader worldwide in live-scan systems and biometric identification verification systems, Thursday announced that its Bio-ID Division has been awarded a contract by the Bank of Cairo. The bank has placed an order for 1,000 TouchSafe(TM) II units, which are being installed in stages throughout its more than 300-branch network to replace the traditional password identification method. The bank is installing verification systems using Identix's TouchSafe II(TM) units as the fingerprint capture component to verify the identity of employees who authorize withdrawals, deposits and electronic transfers over a certain amount. The order was placed and the units were shipped in March 1998. Identix Chairman, President and Chief Executive Officer Randall C. Fowler commented: ``The Bank of Cairo joins Colombia's Conavi Bank and Indonesia's Bank Central Asia as a progressive world banking leader in the use of biometrics for security and verification. We continue to be very optimistic about the prospects for Identix biometric ID technologies in financial services markets, as well as in other commercial applications.'' Fowler said: ``Bank of Cairo officials determined that such identification forms as passwords or cards assumed one's identity was verified, but did not guarantee fraud prevention. Passwords can be forgotten or 'passed' on to others; cards can be mislaid or stolen. ``The Identix biometric identification devices,'' Fowler continued, ``compare a person's fingertip against a 'template,' or file, previously created when a person is 'enrolled' in a system, and instantly verifies an individual's identity. In addition, an irrefutable electronic audit trail is created indicating exactly which staff member has authorized a particular transaction.'' Identix Inc. is a leader in designing, developing, manufacturing and marketing products for the capture and/or comparison of fingerprints for security, anti-fraud, law enforcement and other applications. The company's subsidiaries, joint ventures and divisions include ANADAC/Government Services, a provider of information technology, engineering, systems integration and consulting services to government and commercial entities; Sylvan/Identix Fingerprinting Centers, LLC, a supplier of contract services for employee and applicant screening and other personal verification applications; Biometric Applications & Technology; and Identix International, which includes international selling offices in Europe, Asia, North and South America and Australia. The statements in this media release that relate to future plans, events and performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, competition, the costs associated with selling products into new markets, foreign currency fluctuations and other risks identified in the company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to release publicly the results of any revisions in these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact: Allen & Caron Inc. Damon Wright (investors) Owen Daley (media) 949/252-8440
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