CANTON, Mass.–(BUSINESS WIRE)–Jan. 7, 2003–International Electronics, Inc. (NASDAQ: IEIB), announced its new BioRead(TM) Secured Series Fingerprint Access Control System.
President of IEI, John Waldstein, commented, “We are very pleased to be able to offer our new biometric fingerprint system to our dealers. The biometric segment of the access control market is considered to be the fastest growth segment in access control. There continues to be an increasing need to verify an individual’s identity before allowing access to certain facilities or critical areas within a facility. Our BioRead(TM) systems will allow IEI to participate in this growth market.”
Integral to the BioRead(TM) Fingerprint system is Precise Biometrics’ BioAccess(TM) fingerprint reader featuring unique BioMatch(TM) technology. IEI has a non-exclusive worldwide distribution agreement with Precise Biometrics of Lund, Sweden, a global supplier of biometric fingerprint technology. The system stores up to four of the user’s fingerprint templates on a smart card and enables fast one to one matching. Matching to the stored fingerprint template on the smart card provides a higher level of security by verifying that the card holder is indeed the authorized user while maintaining the user’s privacy because personal information is kept with each user on the card and not in a separate database.
The BioRead(TM) is the first system in wholesale distribution that integrates both access control and biometric enrollment together. For end-users and dealers, this eliminates the need of launching multiple software applications to program and manage a PC-based biometric access control system.
IEI’s BioRead(TM) fingerprint systems are turnkey and include the fingerprint reader(s), controller(s), PC connectors, programming and management software. One door and four door BioRead(TM) fingerprint biometric systems are available. The BioRead(TM) system is expected to be available in February 2003.
International Electronics, Inc. (“IEI”) designs, manufactures and markets electronic security equipment used in residential, industrial and commercial security systems and industrial asset management applications. IEI’s products include its Door-Gard(TM) and Secured Series(TM) access control products, its LS line of integrated battery operated Door Locks, its PowerKey(TM) industrial access control products and its VoiceKey(TM) voice verification access control technology. IEI markets these products to the leading distribution and installation companies serving the electronic security industry in the U.S. as well as in Europe, Eastern Europe, Asia, Canada, South America, and New Zealand. IEI’s web site address is http://www.ieib.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): This news release contains forward-looking information within the meaning of the Act and the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended including statements that include the words "believes", "expects", or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of IEI, to differ materially from those expressed or implied by such forward-looking statements. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. These risk factors are identified in IEI's Form 10-KSB for the year ended August 31, 2002, which is on file with the Securities and Exchange Commission.
CONTACT: International Electronics, Inc.<br /> John Waldstein, 781/821-5566