TORONTO, Jan. 12, 2006 (PRIMEZONE) -- American Associates Group, Inc. (Pink Sheets:AASG) is pleased to announce the upcoming opening of the Biometric Document Demonstration Facility in Marbella, Spain. The facility will be fully operational the fourth week of January. The company which signed an agreement to acquire C.I.T. Technology Group Inc. is pleased to see that C.I.T. products and their system for issuing biometric secured documents will be showcased at the facility.
C.I.T. Technology Group Inc. with its division Secugraphics, and RavenPack International S.L. are nearing the completion of the installation of a demonstration facility in Marbella, Spain. The demonstration facility shall be installed and operational by the fourth week of January, 2006. Once this is realized the facility will be used for the purposes of demonstration and sales of the Secugraphics' system and products to banks, governments and related institutions, health care institutions, private firms, transportation authorities/firms and other entities with a vested interest in access/identity security private and public. Invitations have already been sent and acceptances by corporations and governments have arrived with more expected. Names of the companies and governments will be withheld at the present time due to privacy and confidentiality reasons. "This facility is a great validation of our products and our technology. This defines another major milestone in the company's growth as well as increasing our international profile," states Abraham Adizes, President of C.I.T. Technology Group Inc.
The Company will demonstrate the system for issuing RFID (Radio Frequency Identification) and non RFID card based biometric ID documents -- "Electronic SDIS -- Security Document Issuing System" (hereafter the System), which represents the most up-to date document integrated IT and security system that produces highly secure ID documents and e-passports. These types of documents could be used in many e-government schemes as well as for the border crossing control systems. In this demonstration centre general structure with all its components will be simulated. Integrated Biometric e-ID (electronic identity) Document Issuing System is a main infrastructure element for establishing of citizen digital identity, both internal (within the country) and external (international). Focusing on innovative and highly reliable solutions and developments in the RFID chip card technology. This approach practically eliminates ID document fraud, and at the same time, by implementing world-class IT and security technology, makes all identification and verification procedures more efficient and reliable. Electronic identity is a convenient and secure way to have access to the government providing information and services. The e-ID Issuing System is intended for issuing basic ID documents and e-Passports but, once established, it could be used for issuing of all kinds of personal documents based on smart cards e.g. driver's licenses, vehicle registration licenses, social security cards, healthcare cards, bank cards etc. In other words, the System is mainly intended for issuing PKI based smart card ID documents for storing personal data, alphanumeric and biometric, and appropriate keys for e-government purposes, but it could as well be used for issuing of any type of ID or bank cards, PKI or non-PKI.
About American Associates Group
American Associates Group, Inc. is a publicly listed corporation (Pink Sheets:AASG) which specializes in manufacture of secured documents and developing software and technology incorporating biometric security features on personalized identification cards, digital passports and biometric ID smart card keys.
C.I.T. Technology has developed proprietary technology that combines high-end imaging, data compression and biometric encryption and authentication in order to develop a counterfeit-proof security document manufacturing solution. C.I.T. Technology Group, Inc. was formed in Canada in 1998 with offices in Washington, D.C. and Marbella, Spain. It operates two divisions within the company Secugraphics and Varigraphics. It markets its products to governments and private corporations. Its products include biometric personalized ID (drivers license, government issued health cards, corporate identification cards), digital passports, airline boarding passes, certificates and checks.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.