TMCnet News
Senegal, Africa, to Launch Postal Banking Project Using LaserCard Optical Memory Cards Made by Drexler Technology MOUNTAIN VIEW, Calif. --(Business Wire)-- April 6, 2004 -- Drexler Technology Corporation (Nasdaq:DRXR) announced a purchase order valued at $140,000 for LaserCard products for a secure banking project under the auspices of Sanfro, the national Post Office of Senegal, Africa. The order includes LaserCard optical memory cards and secure card encoders and readers, to facilitate consumer banking transactions at post office branches.The cards and equipment called for by the new purchase order will be delivered by mid-April, 2004. It is anticipated that the project will commence in Dakar, the capital city of Senegal, by early May. A data capture and personalization system has been supplied for this project to enable the enrollment of cardholders, whose facial image and fingerprint templates will be stored on the card's optical memory for ID verification during each banking transaction at the post office branches. Drexler received the purchase order from a value-added reseller (VAR), Laser Memory Card s.r.l., of Rome, Italy. This VAR was also instrumental in the success of the Italian citizen ID card (CIE) project and is working in partnership with local system integrators on that program. Based in Mountain View, Drexler Technology Corporation (www.drexlertechnology.com) manufactures LaserCard(R) optical memory cards, chip-ready optical memory cards, and other advanced-technology cards. Drexler's wholly owned subsidiary, LaserCard Systems Corporation (www.lasercard.com), manufactures optical card read/write drives; develops optical card system software; and markets cards, card-related data systems, and peripherals. Forward-Looking Statements: All statements contained in this press release that are not historical facts are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as may, will, intends, plans, believes, anticipates, visualizes, expects, and estimates. Forward-looking statements made in this release include statements as to the application specifications and anticipated date for commencement of the postal banking program. These forward-looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to, risks associated with doing business in and with foreign countries; lengthy sales cycles and changes in and reliance on government policy-making; the Company's reliance on value-added resellers, licensees, and other third parties; risks and difficulties associated with development, manufacture, and deployment of optical cards, drives, and systems; the possibility that the national Post Office of Senegal will not fully implement the program or place additional follow-on orders; as well as other risk factors detailed in the Company's Form 8-K, 10-K, and 10-Q filings with the Securities and Exchange Commission. Due to these and other risks, the Company's future actual results could differ materially from the Company's expectations. These forward-looking statements speak only as to the date of this release, and, except as required by law, we undertake no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise. |
