Tuesday June 13, 8:32 am Eastern Time
Company Press Release
Leapfrog Smart Products Reaches Institutional Market
Inks Contract With University Of Central Florida
Smart Card Software Company to Provide Intelligent Access Control System to UCF Existing and Forthcoming Engineering Buildings
ORLANDO, Fla.--(BUSINESS WIRE)--June 13, 2000-- Leapfrog Smart Products, Inc. (OTCBB:FROG - news), a leader in Smart card software development, today announced it was awarded a contract by the University of Central Florida, to provide the Leapfrog Intelligent Access Control (IAC) System for the existing campus Engineering Building. Furthermore, the Company was offered a subcontract by WelBRO/ELLIS-DON Construction Company, to extend the IAC Security System to the new engineering building being built at UCF.
The two contracts represent a combined value of $284,436 for Leapfrog's IAC system to provide Smart card access to the buildings and their offices, classrooms and laboratories. The system will also utilize its Graphical User Interface software to integrate an existing Open Database Connection that will provide a list of possible cardholders, aid in identification and prevent data redundancy. When the database is completed, Operators can construct individual access privileges for students and employees.
Dale Grogan, President of Leapfrog Smart Products, commented, ``This agreement with UCF, which we have been working on since December 1999, is Leapfrog's initial penetration into the potentially massive institutional market for Smart card development. We feel the contract is a nice complement to the $1.5 billion GSA contract received by Electronic Data Systems, for whom Leapfrog serves as the exclusive Smart card biometric and hardware provider.''
Grogan continued, ``The developments we have made so far while working with UCF demonstrate our commitment to being a leader among Smart card software providers to global institutions, warranting this contract as a milestone for our Company and for our shareholders.''
About Leapfrog Smart Products, Inc.
Leapfrog Smart Products, Inc. is a world-class leader in Smart card software development and system solution integration. Located in Maitland, Florida, Leapfrog is one of a small group of companies dedicated to creating applications for Smart cards. Smart cards are credit card-sized pieces of plastic with a computer microprocessor embedded within. Current applications of Smart card software include personal identification, e-purse transactions, loyalty points storage, physical and logical access, as well as portable storage of medical records. Leapfrog, through its General Services Administration (GSA) master contract, is also certified as a contractor with the United States federal government. Leapfrog Smart Products, Inc. is a publicly traded company, trading under the symbol FROG.
Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as ``expect,'' ``intends,'' ``believes,'' ``plans,'' ``anticipates'' and ``likely'' also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.
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Contact:
Leapfrog Smart Products, Inc.
Dale Grogan, daleg@leapfrog-smart.com
Tel: 407/838-0400
or
Continental Capital & Equity Corporation, Longwood, Fla.
Larry Clark, lclark@insidewallstreet.com
Jim Blackman, jblackman@insidewallstreet.com
Tel: 407/682-2001
or
Brennan, Dyer and Co., LLC
Jim Brennan
Tel: 423/265-5062 |
