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To: Sully- who wrote (45374)	12/19/2001 3:57:17 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

Viisage Raises Total of $25 Million in Private Placement With Institutional Investors; Company Increases Initial Financing in Response to Overwhelming Demand BUSINESS WIRE - December 19, 2001 15:46 LITTLETON, Mass., Dec 19, 2001 (BUSINESS WIRE) -- Viisage Technology, Inc. (NASDAQ: VISG), the leader in face-recognition technology and identification systems and solutions, announced today that it has raised an additional $6.5 million in a private placement of common stock with several large institutional investors. The additional funding, which increases the company's previously-announced $18.5 million placement to $25 million, was driven by a tremendous demand from the investment community. Viisage sold a total of approximately 2.4 million shares at $10.50 per share, representing a 5% discount to market from the $11.01 closing price on Friday, December 14th. The investors also received warrants to purchase approximately 357,000 shares of common stock at 115% of the purchase price. Tom Colatosti, Viisage president and CEO, said, "We are thrilled to have received such an overwhelming positive response from investors. We believe this is a powerful endorsement of the company's plans and potential. This additional financing confirms the investment community's belief in Viisage as well as the power of biometric technology and the important role it will play in our national security." Colatosti added, "I am again grateful to our investment bankers at Ladenburg Thalmann for completing a very effective financing transaction that will enable us to make the necessary investments to achieve our long term business plans." About Viisage Technology Viisage Technology is the world leader in biometric face-recognition technology and identification systems and solutions that enhance consumer convenience, improve security and protect personal privacy. Originally developed at MIT, Viisage's patented, accurate, non-intrusive and cost-effective face-recognition technology is widely acknowledged for its unmatched performance including speed in real-time applications, scalability for managing large image databases, and systems integration for complete customer solutions. Viisage delivers annually through 1,500 U.S. systems in 1,200 locations in 15 states, more than 25 million high-quality and high-security digital-identification documents for government agencies responsible for issuing drivers' licenses, social services cards and law enforcement credentials. Viisage provides a full family of face recognition products. FaceEXPLORER(TM) is a powerful and scalable image retrieval and analysis database product, used to combat identity fraud -- it is implemented in the world's largest face recognition system with more than eight million enrolled images FaceFINDER(TM), acclaimed for its processing speed, is the industry's most widely implemented surveillance and identification system -- it is installed in more than 100 casinos worldwide and has been deployed to improve security at premier sporting events. FacePASS(TM) (for PC, Mobile, & Internet) provides secure authentication for PC, Internet and e-commerce connections. FacePIN(TM) offers consumers convenient and private verification for point-of-sale transactions such as ATMs. FacePASS(TM) (keyless entry/physical access) is a practical security solution for keyless entry to secure facilities, such as offices, dormitories and government facilities. FaceTOOLS(TM) is a leadership Software Developers Kit that enables application providers the ability to develop and customize unique customer and market applications