NEW YORK, Jan. 25, 2006 (PRIMEZONE) -- Security Intelligence Technologies, Inc.(OTCBB:SITG) and its subsidiary, Homeland Security Strategies, Inc. (HSS) announced today that it recently signed a distribution agreement with a prominent Far Eastern marketing company, appointing them as licensee with the right to sell its counterterrorism, surveillance, counter-surveillance and security products in their country.
The distributor paid an initial non-refundable fee of $80,000 and is obligated to make minimum annual purchases of $800,000 per year of SITG's proprietary security and intelligence equipment under the terms of the agreement. In return for the initial fee, the distributor receives a 10% discount on its first $800,000 worth of purchases.
The distributor's first sale to a branch of its government resulted in an order for $100,000 and included SITG's ECMSA 1300, an electronic countermeasure signal analyzer that detects virtually all clandestine transmitters; CCTA 1000, a computer-controlled telephone analyzer used to test the telephone lines for unauthorized or surreptitious monitoring and taps; and a VSA 15 Portable Voice Stress Analyzer which can be used overtly, covertly, in person, through a phone conversation, or via tape, and assists the users to determine if a subject is telling the truth.
Ben Jamil, Chief Executive Officer of SITG states, "The security needs in the Far East are well known to the security community. This agreement provides us with a great opportunity to further penetrate the Far East security market and to promote our products through a highly respected marketing firm. Our new distributor is well established in the security industry and caters to an extensive list of high profile clients and high-risk individuals."
There can be no assurance the new distributor will fulfill its minimum annual purchase requirements contained in the agreement or that the resulting revenues will be realized.
About Security Intelligence Technologies, Inc.
Security Intelligence Technologies, Inc. and its subsidiaries, design, develop, manufacture, market and distribute leading edge solutions and advanced proprietary systems for the counterterrorism, surveillance, counter-surveillance markets worldwide through its corporate website, international seminar program and through its offices located in New York, Miami, London and Sofia, Bulgaria. SITG's product line and security technologies are currently distributed throughout the US, Europe, Asia, the Middle East and Latin America and are marketed under the names Security Intelligence Technologies, and Homeland Security Strategies.
Safe Harbor Statement
Statements in this press release and oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company's behalf may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "expects," "intends," "may," "should," or "anticipates" to be uncertain forward-looking statements. The forward looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including the material under "Risk Factors" in the Company's Form 10-KSB for the year ended June 30, 2005 and the material under Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Form 10-K for the fiscal year ended June 30, 2005 and Form 10-QSB for the quarter ended September 30, 2005. Information on SITG's corporate website or any other website is not a part of this press release.
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