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Technology Stocks : Racom Systems (RCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Marty Lee who wrote (351)	10/29/1998 12:18:00 PM
From: Gutterball	Read Replies (4) \| Respond to of 468

Racom Signs Manufacturing and Marketing Agreement With IRIS Technologies DENVER--(BUSINESS WIRE)--Oct. 29, 1998--Racom Systems Inc. (Nasdaq:RCOM - news), a leading provider of contactless smart card technology solutions, announced today it has signed a manufacturing and marketing agreement with Iris Technologies of Malaysia (IRIS). The agreement calls for Racom to contract its smart card and reader manufacturing to IRIS for several contracts that are in various stages of development. IRIS will use Racom's marketing organization as its representative for smart card and peripheral equipment sales. The companies will also work jointly to design and develop new applications for the smart card market. ''This agreement is significant for Racom as we shift our focus from product manufacturing to becoming a technology provider of contactless distributed control technology,'' says Art Rancis, Racom's president and CEO. ''Partnering with an industry leader like IRIS Technologies allows Racom to market its contactless smart card and RFID technologies without the burden and expense of operating a manufacturing facility.'' Racom designs and markets a broad range of turnkey smart card systems for a variety of industries, including manufacturing, education, transportation and more. It offers a unique combination of intellectual property, radio frequency engineering and contactless smart card systems design and implementation. Racom's core technology encompasses patented ferroelectric memory technology, radio frequency technology, communications software and encryption software. The company's core technology is protected by more than 100 patents that has been adopted by more than 100 customers. ''Racom is clearly a technology leader within the industrial, contactless smart card marketplace and we look forward to assisting them in serving this expanding market,'' says Tan Say Jim, managing director for IRIS. ''Their strategy of outsourcing the manufacturing of smart cards and equipment will allow Racom to build upon its leadership role and develop the most advanced technical solutions available.'' About IRIS Technologies IRIS Technologies is a leading manufacturer of smart card systems and peripherals based in Malaysia, where it operates from a 330,000 sq. ft. manufacturing facility. The company has developed an integrated smart card technology process called Image Retrieval and Identification System, which is capable of providing very high identification and verification security. IRIS has extensive experience manufacturing both contact and contactless smart cards for customers around the world. About Racom Systems Inc. Racom Systems Inc., headquartered in Denver, Colo., develops and markets smart card-based technologies that automate transactions for electronic commerce, information technology, physical and logical access control, and industrial automation. Racom solutions provide secure, convenient and personalized access to money, information, property, and services. For further information about Racom, its technology and products, contact Racom at its Web address, racom.com, by telephone at 303/771-2077, or by fax at 303/771-4708. This news release contains forward-looking statements. There can be no assurance that actual results will not differ from the company's expectations. Factors that could cause materially different results include, among others, uncertainties related to the information of the Company's new products and services, the successful completion and integration of acquisitions, and possible negative economic or competitive conditions. Other factors could also cause actual results to vary materially from the future results covered in such forward-looking statements. ------------------------------------------------------------------------ Contact: Racom Systems Inc. Investor Relations Marty Cohen, 972/771-6783 or Murrel Public Relations Guy Murrel, 303/581-7760