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Technology Stocks : Mitek Systems (MITK) -- Ignore unavailable to you. Want to Upgrade?

To: Chris Forte who wrote (44)	6/29/1999 8:51:00 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 169

We have more than a double here so far and I think we are just getting started...this today...stock around 2 7/16 pre open...well up from close yest: Mitek Ships First Order of Recognition Engines to IBM SAN DIEGO--(BUSINESS WIRE)--June 29, 1999--Mitek Systems Inc. (NASDAQ:MITK - news) Tuesday announced that it recently received its first order from IBM for the shipment of Mitek's CheckScript(tm) recognition engines. The order from IBM represents the largest single site installation of recognition engines in Mitek's company history. IBM has licensed the CheckScript recognition engine from Mitek for use in IBM's ImagePlus Intelligent Forms Processing Solution (IFP) for Windows NT. The IFP Solution is IBM's most advanced forms processing system. It relies on technical advances in the use of Intelligent Character Recognition (ICR) and other forms processing technologies to reduce the cost of data capture from documents. CheckScript will be integrated into IBM's IFP Solution to automatically read, with a high degree of accuracy, the courtesy (numeric) amount and legal (handwritten) amount on checks. Many of IBM's customers who process forms also need to process checks. This is particularly true for those clients with payment processing applications, where a check accompanies a form or remittance coupon. CheckScript provides IFP the ability to perform Courtesy and Legal Amount Recognition (CAR/LAR) on checks, thereby automating the processing of payments. William Boersing, Mitek's vice president of North American Sales, said, ''We look forward to working with IBM in support of this major installation and many others in the future.'' ''The integration of CheckScript with IBM's IFP will provide our customers with state-of-the-art CAR/LAR recognition,'' said Scott McDonell, IBM's IFP Solution Manager. About Mitek Mitek Systems is a worldwide leader in intelligent character recognition technology, products and services for the document imaging markets with headquarters at 10070 Carroll Canyon Road, San Diego, Calif. 92131. The company's document imaging software engine and intelligent character recognition products and services are used in mission-critical and high volume data entry, data capture, and forms processing applications installed in many of the world's leading financial institutions, manufacturing and service companies, and government organizations. For more information about Mitek Systems, visit the company's Web site at: miteksys.com. Forward-Looking Statement Disclosure