American Associates Group and C.I.T. Technology Group Announce Completion of Phase One of a Three Phase Joint Venture Contract with Ravenpack International S.L.


TORONTO, Dec. 16, 2005 (PRIMEZONE) -- American Associates Group, Inc. (Pink Sheets:AASG), which recently signed an acquisition agreement with C.I.T. Technology Group (see press release, Dec. 14, 2005), announces that C.I.T.'s Secugraphics has completed phase 1 of a three phase joint venture contract with Ravenpack International S.L. to Provide Demonstration Facility in Spain.

Secugraphics has been contracted and has begun work on a three phase contract on the implementation of a demonstration identification documents system for a pilot project for the Government of Andalusia in Spain. During the next six months, under a grant from the Department of Scientific and Corporate Innovation, General Office of Technology and Corporate Research of Junta Andalusia and EU, Secugraphics will develop, implement and verify this identity card and passport system within the province of Andalusia.

The aim of this identity document demonstration is the creation of a biometric center for the manufacture of identification documents including counterfeit-proof printing techniques and advanced biometric identification systems. For this effort, Secugraphics is providing its SDIS (Security Document Issuing System) solution set for issuing MRTD (Machine Readable Travel Documents) and National ID cards.

This system will be capable of producing all types of personal documentation requiring very high security standards, such as passports, drivers licenses, etc. Secugraphics and Ravenpack are developing all necessary software to allow Andalusia to configure and apply for security documents remotely, using the Internet and encrypted data through a highly secure network. This SDIS software application will use Secugraphics JAVA based programming interface for Windows as well as UNIX/Linux. In the second phase biometric information can also be applied through intelligent card or RFID (Radio Frequency Identification) microchip technology.

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.



            

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