TTR Technologies' Subsidiary ComSign Experiences Rapid Growth
New Customers include Israel's Major Credit Card Operators, Banks and E-Commerce Sites
NEW YORK, Dec 7, 2000 (BUSINESS WIRE) -- TTR Technologies, Inc. (NASDAQ: TTRE chart, msgs), a leading developer of digital anti-piracy technologies, announced that its subsidiary, ComSign Ltd., is rapidly becoming the leading Internet trust service in Israel, enrolling approximately 100 new customers in the past two months.
ComSign is the exclusive Israeli marketer of VeriSign, Inc.'s (Nasdaq: VRSN chart, msgs) digital authentication certificates. VeriSign is the world's largest provider of Internet-based trust services.
Among the new customers are the Union Bank of Israel, UMB Bank and the First International Bank of Israel. ComSign now counts six of Israel's major banks among its customers. Major e-commerce sites that have enrolled recently include 4sale.co.il, Drugstore.co.il and Shopping.co.il. Both C.A.L. Visa and the Israeli MasterCard, the two dominant credit card operators in Israel, have also enrolled.
Marc Tokayer, Chief Executive Officer of TTR, said, "We are very pleased with the overwhelming acceptance that ComSign is experiencing in the business community in Israel since starting operations in June. We are also encouraged by the progress ComSign is making in marketing the large scale OnSite system that enables secure transactions on the Internet. We are hopeful that these efforts will begin to bear fruit during the first half of 2001."
TTR Technologies, Inc., designs, markets and sells proprietary anti piracy products. The company has developed and commercialized products for the software and entertainment industries and is expanding its product range and reach through in house development and joint ventures. TTR has a joint development and marketing agreement for music CD copy protection with Macrovision Corporation (Nasdaq: MVSN chart, msgs). TTR owns 50% of ComSign, the exclusive Israeli affiliate of VeriSign, Inc. (Nasdaq: VRSN chart, msgs). For more information about TTR Technologies, visit ttrtech.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Any statements released by TTR Technologies, Inc. that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward looking statements involve risks and uncertainties which may affect the Company's business and prospects, including economic, competitive, government, technological and other factors discussed in the Company's filings with the Securities and Exchange Commission.
Contact:
Lippert/Heilshorn & Associates
Chenoa Taitt, 212/838-3777
chenoa@lhai.com
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