EUROTECH Acquires Crypto.Com Inc.?s Absolutely Secure
Communication Technology for Open Channels
February 29, 2000
WASHINGTON, DC. EUROTECH Ltd. (OTC: BB: EURO) announces the acquisition of a new keyless, encryption technology for secure communications on insecure circuits. EUROTECH acquired eighty per cent of Crypto.Com, Inc. a Delaware Corporation and full rights of its encryption technology, which allows safe and secure communications over the existing open channels of the Internet.
The new technology has wide application for communications with and between banks, brokers, as well as, Internet users. The technology provides for absolute security on open circuits between two users without the use of a key. The new cryptography concept creates absolutely unbreakable ciphers allowing software to be absolutely secure for the Internet, networks, and telephone lines. Crypto.Com?s technology makes databases and firewalls absolutely secure. The new technology is a breakthrough that improves upon widely used RSA and DES cipher methods to permit secure communications to many users of decentralized networks.
The new encryption technology fits into EUROTECH?s array of primarily advanced material technologies in that it?s a breakthrough technology with a strong market pull, satisfying a critical need in business and industry. The security issue is so critical that the President met with his Cabinet and Internet firms two weeks ago to discuss security initiatives. The President?s objective was for ?protection of privacy and civil liberties, but also how to keep the Internet open.? In his budget proposal to Congress, the President asked for $2 billion for cyber security and increased partnerships with the public sector.
EUROTECH plans to make this vital technology available later this year after completion of current development and testing.
EUROTECH Ltd. is a diversified technology holding company formed to capitalize on business opportunities through the acquisition and commercialization of advanced technologies developed by prominent research institutes and individual researchers worldwide.
Certain information and statement included in this release constitute ?forward-looking statements? within the meaning of the Federal Privates Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
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