EX-99.1
3
a05-4616_1ex99d1.htm
EX-99.1
Exhibit 99.1
Contact:
Press Contact:
Investor Contact:
Joyce
Chang-Watts
Wayne
Wetherell
ImageWare
Systems, Inc.
ImageWare
Systems, Inc.
858-673-8600
858-673-8600
For Immediate
Release
ImageWare
Strengthens Asia-Pacific Presence; Signs Strategic Agreements with Total Value
of $2.7M
SAN DIEGO, March 4, 2005
- ImageWare® Systems, Inc. (AMEX: IW),
a global leader in identity management solutions, today announced that it has
entered into a three-year agreement with Argus Solutions Ltd (ASX: ASV) for the
exclusive distribution of ImageWare's biometric engine, law enforcement and
secure credential solutions in the Asia-Pacific region, excluding Japan and
Korea. Under the terms of this agreement, Argus will purchase a minimum of
US$1.4 million in ImageWare products over the next 12 quarters, as well as
integrate the IWS® Biometric Engine from ImageWare into its product offerings.
Argus is a biometrics and identity management company based in Sydney, Australia.
As part of the strategic
partnership, Argus has acquired ImageWare's wholly-owned Singapore subsidiary,
Digital Imaging Asia Pacific Pte. Ltd. (DIAP), for cash of US$1.3 million. In
addition, Argus and ImageWare will purchase US$250,000 of the other company's
common stock at a price equal to 8 percent above the closing price of that
common stock on March 1, 2005. As part of the arrangement, ImageWare's
Chairman and CEO, Jim Miller, will join Argus' Board of Directors.
"Argus is well-versed in
biometrics and a natural fit for ImageWare. This distribution agreement with
Argus and their acquisition of our Singapore office represents a strategic approach
to ensure the continued growth and expanded offering of ImageWare's identity
management solutions in the Asia-Pacific region", said Miller. "We are very
pleased to have Argus as our partner and look forward to accelerating growth within
the Asia-Pacific identity management market. ImageWare is committed to
leveraging strategic partnerships that provide added-value to our product
offerings and further penetrate worldwide markets".
Argus
focuses on identity management using its proprietary iris recognition software
and state of the art facial recognition technology. The company sells solutions
to its clients such as the military, government departments and blue chip
companies seeking absolute assurance of identity in its access control
functions, and to vertical market clients such as hospitals where controlling
the dispensing of controlled substances via careful identity management is
critical.
About
ImageWare Systems, Inc.
ImageWare Systems, Inc.
(AMEX:IW) is a global leader in 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 Canada and Germany. For more information visit
www.iwsinc.com.
Safe Harbor Statement
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.
# # #

EX - 99 . 1 3 a05 - 4616 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 Contact : Press Contact : Investor Contact : Joyce Chang - Watts Wayne Wetherell ImageWare Systems , Inc . ImageWare Systems , Inc . 858 - 673 - 8600 858 - 673 - 8600 For Immediate Release ImageWare Strengthens Asia - Pacific Presence ; Signs Strategic Agreements with Total Value of $ 2.7M SAN DIEGO , March 4 , 2005 - ImageWare ® Systems , Inc . ( AMEX : IW ) , a global leader in identity management solutions , today announced that it has entered into a three - year agreement with Argus Solutions Ltd ( ASX : ASV ) for the exclusive distribution of ImageWare 's biometric engine , law enforcement and secure credential solutions in the Asia - Pacific region , excluding Japan and Korea . Under the terms of this agreement , Argus will purchase a minimum of US$ 1.4 million in ImageWare products over the next 12 quarters , as well as integrate the IWS ® Biometric Engine from ImageWare into its product offerings . Argus is a biometrics and identity management company based in Sydney , Australia . As part of the strategic partnership , Argus has acquired ImageWare 's wholly - owned Singapore subsidiary , Digital Imaging Asia Pacific Pte . Ltd . ( DIAP ) , for cash of US$ 1.3 million . In addition , Argus and ImageWare will purchase US$ 250,000 of the other company 's common stock at a price equal to 8 percent above the closing price of that common stock on March 1 , 2005 . As part of the arrangement , ImageWare 's Chairman and CEO , Jim Miller , will join Argus ' Board of Directors . " Argus is well - versed in biometrics and a natural fit for ImageWare . This distribution agreement with Argus and their acquisition of our Singapore office represents a strategic approach to ensure the continued growth and expanded offering of ImageWare 's identity management solutions in the Asia - Pacific region " , said Miller . " We are very pleased to have Argus as our partner and look forward to accelerating growth within the Asia - Pacific identity management market . ImageWare is committed to leveraging strategic partnerships that provide added - value to our product offerings and further penetrate worldwide markets " . Argus focuses on identity management using its proprietary iris recognition software and state of the art facial recognition technology . The company sells solutions to its clients such as the military , government departments and blue chip companies seeking absolute assurance of identity in its access control functions , and to vertical market clients such as hospitals where controlling the dispensing of controlled substances via careful identity management is critical . About ImageWare Systems , Inc . ImageWare Systems , Inc . ( AMEX : IW ) is a global leader in 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 Canada and Germany . For more information visit www.iwsinc.com . Safe Harbor Statement 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 . # # #