Company Press Release
SOURCE: Holographic Dimensions, Inc.
Holographic Dimensions, Inc. Awarded 130 Million
Dollar Russia Govt. Contract
MIAMI, Feb. 2 /PRNewswire/ -- Holographic Dimensions, Inc. (OTC Bulletin Board: HGRM - news) announced today that it
has been awarded the contract from Spetsznak, a Russian Company formed in accordance with the Federation of Russia
Decree #601, to produce in excess of $130,000,000 (one hundred thirty million U.S. dollars) of security holograms for the
Russia Government #601 Tax Stamp Program over the next 12 (twelve) months.
Pursuant to Russia Decree #601, a wide variety of consumer products will incorporate a hologram security device to
insure the authenticity of products produced in Russia, prevent their diversion and effectively insure tax collection on
those products. The project initially involves the production of over 5 billion holograms for use on liquor bottles, computer
and consumer electronics products. The Company has commenced production and will be making the first shipment of
300,000,000 holograms on, or before March 15, 1999.
According to Kevin G. Brown, President & CEO, ''We expect the demand for HGRM/Spetsznak holograms to double each
year over the next 3 years as the 601 Tax Program is fully implemented. Concurrent with the delivery of U.S. produced
holograms, HGRM and Spetsznak will establish an equally owned joint venture manufacturing facility to service the 601
program, other Russia Govt. Hologram projects, and the CIS and Western European Holography markets through the
21st Century. We envision that this new state-of-the-art facility will become the world's largest producer of security
holograms.''
Gary B. Bennett, Director & CFO commented that, ''not only will the Company's earnings benefit directly as a result of the
contract the corresponding increase in cash flows will enable the Company to increase its sales force and capture
additional market share of the ever expanding holography industry.''
According to Jeffrey Weil, Director R&D, ''Holography is finding exciting new markets in optics, entertainment, computer
and medical diagnostic imaging technologies. HGRM will become a leader in these markets as the Company can now
complete the funding of ongoing research and development projects which have the potential to revolutionize the
industry.''
HGRM is committed to bringing new holographic technologies into the mainstream marketplace. This project represents
the culmination of those efforts and is the next major step forward in establishing HGRM as the premier manufacturer and
distributor for holographic technologies as holography continues to prove itself to be the most cost-effective method to
combat counterfeiting, diversion and other forms of deception.
The Company is also pursuing strategic alliances, acquisitions, affiliations and long-term relationships to insure its solid
position as the #1 global supplier of holographic security devices. The Company is near completing its audited financial
statements and plans to become a fully reporting company in the near future.
Holographic Dimensions, Inc. is a vertically integrated manufacturer of holographic imagery. The Company's products are
incorporated into a variety of security products including, but not limited to, credit cards, negotiable documents, tax
stamps, passports, drivers licenses, event tickets, transit passes, and consumer products for marketing. The Company's
customers include Merck, Lilly, NASA, The Coca-Cola Company, Hoescht, and Ameritech amongst many others.
HGRM continues to enter new markets and is currently represented with active sales accounts in Mexico, Columbia,
Brazil, Guatemala, Equador, Peru, Argentina, Venezuela, Panama, Uruguay, Canada, Germany, Poland, Russia, Turkey
and South Africa. The Company continues to seek quality representation in all global markets.
This release may include ''forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933
and Section 21E of the Securities Act of 1934. Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable it can give no assurance that such expectations will prove correct. This is
neither an offer to buy or sell a security. For informational purposes only, from sources deemed to be reliable. For more
information visit them on the World Wide Web page at www.hgrm.com or contact: |
