SAN JOSE, Calif., July 18, 2006 (PRIMEZONE) -- Titanium Group, Ltd (OTCBB:TTNUF), a leading biometric and security solutions provider, announced today it has secured additional installation orders for the People's Bank of China (PBC), the central bank of the People's Republic of China based on the successful installation and outstanding performance in the previous pilot projects. Titanium's biometric products, "ProFacer iDVR" and "ProAccess FaceGuard" have been installed to provide PBC with physical access control and security monitoring of the central treasury of banks, where all the gold and notes are being stored. ProFacer iDVR provides an intelligent surveillance solution for all the passages surrounding the central treasury, with active face detection mechanism collecting and archiving the faceprints of all the passengers passing by. To further solidify the security to this highly sensitive area, ProAccess FaceGuard, Titanium's biometric access control product, ensures the true identity of all personnel entering the treasury.
Established in 1984, The People's Bank of China is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China. The current structure of the bank is modeled after the Federal Reserve System of the United States.
"The fact that one of the foremost recognized banks in the world has agreed to use our biometric products for security monitoring is a major accomplishment for Titanium Group," said Jason Ma, CEO of Titanium Group, Ltd. "PBC's confidence in Titanium and the proprietary software we have developed is proof positive we have cutting edge products."
According to The China Post, People's Bank of China holds approximately $290 billion of required and excessive reserves. More information on The People's Bank of China can be found at www.pbc.gov.cn.
About Titanium Group:
Titanium Group, Ltd. (www.titanium-tech.com) and its wholly owned subsidiary, Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented Automatic Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, enhance security, and significantly increase overall productivity. Titanium's products are distributed worldwide, either directly or through resellers or OEM partners, to governments, law enforcement agencies, gaming companies, and other organizations. The Company's clients include: ESPN, IBM and the People's Bank of China.
Safe Harbor Provisions
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Titanium Group, Ltd. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales.
The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.