PR: Initial Contract Approved!!
Wednesday February 10, 3:26 pm Eastern Time
Company Press Release
RFID Systems Corporation Gets Initial Approval to Supply "EPICS" - Electronic Personnel Identification and Control System - Technology to Saudi Arabia
DAMMAM, Kingdom of Saudi Arabia--(BUSINESS WIRE)--Feb. 10, 1999-- Mr. Terry Kirby, Director and Sheik Fahad A. Al-Faryyan, Director General of RFID/F.A.F.(OTC BB: RFID), a Saudi Arabian company formed to conduct business in Saudi Arabia, concluded two weeks of meetings with senior government officials in Saudi Arabia, resulting in an initial contract for its proprietary ''EPICS'' (Electronic Personnel Identification and Control System) technology.
The ''EPICS'' technology is part of an overall security program to support various government agencies and RFID is in the process of providing technical proposals to the Saudi Arabian Authorities.
RFID/F.A.F. is currently selecting sub-contractors for the Hardware and System Integration for its ''EPICS'' technology. The system integration and hardware suppliers/partners will be announced in February 1999 following the signing of sub-contracts with major global integration and hardware manufacturers.
RFID/F.A.F. contracts in Saudi Arabia are designed to enhance the mandate of the Arab Security Council Agreement. The Minister of Interior Affairs for Saudi Arabia, Prince Naif, addressed the ''Amman Conference'' on Friday, January 29, 1999. The following are quotes in the ''Arab News'', Saudi Arabia's first English language daily newspaper: His Highness Prince Naif said, ''Security is an essential factor for the comprehensive development of a country, so the responsibility of our Interior Ministers is great as they have to protect the security and stability of our people.'' He continues, ''The Arab Security Agreement is the Council's most important achievement.''
RFID Systems Corp. develops and markets a unique, proprietary family of identification and authentication systems for the rapidly expanding enterprise security market as well as large scale identification/authentication applications. These systems can stand alone or be integrated within the company's proven radio frequency biometrics technology to provide greater levels of security.
RFID Systems Corporation is currently preparing proposals and quotations for additional three projects in the Kingdom. These projects will include the use of the''EPICS'' technology as well as the ''EPACS'' (Electronic Passport Access Control System) using the proprietary RFID Systems Corp. ''EPACC'' (Electronic Passport Access Control Card). More information will be forthcoming on these proposals in mid February, 1999.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks.
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Contact:
RFID Systems Corporation
John Di Cicco, 604/684-8002
fax: 604/689-2669
www.rfidsystems.com
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