SAN FRANCISCO, Jan. 21, 2003 (PRIMEZONE) -- Hunno Technologies Inc. (OTCBB:HUNN), a world leader in fingerprint recognition technology, today announced the receipt of a significant order for its MagicPass 6500 Fingerprint ID Doorlock from Daelim Industrial Co., a leading South Korean construction firm.
Daelim and Hunno will begin deployment of MagicPass 6500 within Daelim's new 795-unit apartment complex in the Sungsan-Dong redevelopment area. Until now, MagicPass 6500 had been installed only in luxury apartments. In this instance, MagicPass 6500 is being deployed to all households in the area. It is the first time, in South Korea and worldwide, that fingerprint ID doorlocks are being installed in all of the apartments in a complex.
The quality of MagicPass 6500 has been proven in the South Korean market since its development in 1999. Hunno released the 2nd generation MagicPass 6500 last year, and established the foundation for rapid sales growth by lowering its selling price.
Easy-to-use MagicPass 6500 requires no key or PIN code. It uses the human fingerprint to open and secure doors, and can be programmed to authorize up to 99 persons. It also supports PIN code authorization. Other major features of the MagicPass 6500 are its user-friendly voice guidance, auto-locking ability, a dual safety locking lever in its inner panel, voice guidance for low-battery status and an emergency battery case in its outer panel.
In 2001, the Korean Ministry Of Commerce, Industry and Energy (MOCIE) selected Hunno's MagicPass 6500 for the Korean New Millennium Products Award, recognizing its cutting-edge competitive design when measured against its world market peers. MagicPass 6500 has been certified by the FCC for the U.S. and the CE for Europe, and it supports English, Chinese and Japanese.
In recent weeks, Hunno has received orders for its MagicPass 6500 Fingerprint ID Doorlock from numerous construction companies for installation in new commerce-residence building complexes in Seoul, Ilsan, Sanbon and more. Hunno has built up a network of 150 distributors throughout South Korea, and anticipates significant future sales from their efforts.
About Hunno Technologies Inc.
Hunno Technologies Inc., a Delaware corporation ("Hunno"), is engaged in the discovery, development and commercial application of proprietary fingerprint identification technology through its majority-owned subsidiary, Hunno Technologies Inc., a Republic of Korea corporation ("Hunno Korea").
Organized in 1997, Hunno Korea produced the world's first CMOS-based fingerprint identification module in 1998 and an optics-based fingerprint identification module in 2001. Now a world leader in its field, with units of several Fortune 500 companies among it customers, Hunno Korea brings to the global marketplace highly sophisticated and effective fingerprint authentication solutions, offering state-of-the-art biometrics-based security products for both consumer and commercial applications, including fingerprint identification modules, PC security solutions, physical access control systems (including time and attendance control solutions), and web-based authentication solutions. For more information, please visit www.hunno.com/.
Important Information About Forward-Looking Statements
All statements in this press release that are other than statements of historical facts are forward-looking statements, which contain Hunno's current expectations about its future results. Forward-looking statements involve numerous risks and uncertainties. Hunno has attempted to identify any forward-looking statements by using words such as "anticipates," "projects," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although Hunno believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
A number of factors may affect Hunno's future results and may cause those results to differ materially from those indicated in any forward-looking statements made by, or on behalf of, Hunno. Such factors include Hunno's limited operating history; Hunno's need for significant capital to finance internal growth; Hunno's ability to attract and retain key employees and strategic partners: Hunno's ability to achieve and maintain profitability: political and economic risks inherent in the ownership and operation of international businesses; fluctuations in the trading price and volume of Hunno's stock: and other unanticipated future events and conditions.
For further information concerning risks and uncertainties that may affect Hunno's future results, please review the disclosures contained in its latest filings with the SEC, especially Hunno's Form 10-QSB report filed on November 8, 2002 and its Form 8-K12G3 report filed on August 12, 2002. Other than as required by federal securities laws, Hunno undertakes no obligation to publicly update or revise any of its forward-looking statements, whether as a result of changed circumstances, new information, future events, or for any other reason occurring after the date of this press release.