SAN JOSE, Calif., Oct. 24, 2006 (PRIMEZONE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced the company has signed a letter of intent to acquire Belview Technologies Inc., a privately held manufacturer of quality All-In-One Panel PCs, touch screen LCD monitors as well as slim size PCs. The acquisition gives Titanium an initial entry into the rich and dynamic U.S. consumer market where Belview's applications prosper in a number of industries including education, finance and banking, government, entertainment and gaming, medical and retail. In addition, Belview will incorporate Titanium's technology in a number of their products giving them the ability to further improve the quality of their product line.
"The acquisition of Belview Technologies allows us to pursue new customers and market segments through Belview's existing sales network," said Jason Ma, CEO of Titanium Group Ltd. "Belview offers quality industrial-grade computing hardware products which we believe will be an asset that we can leverage in order to increase our top-line numbers as well. In addition, we are targeting other potential acquisitions which we feel will compliment our marketing mix and add to shareholder value."
The completion of the acquisition is subject to completion of further due diligence and financing.
About Titanium Group:
Titanium Group, Ltd. (http://www.titanium-tech.com), through its wholly owned subsidiary Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented automated Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (face print) 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.
About Belview Technologies:
Established in August, 2000, Belview Technologies Inc. manufactures and distributes touchscreen display based products. As a complete hardware solutions provider, Belview is an industry leader in touchscreen technology, integrated all-in-one Panel PCs, and flat panel displays and monitors for industrial purposes. With a highly talented team of researchers and engineers in the forefront of innovation, Belview serves a variety of commercial markets and industries such as hotels, restaurants, hospitals, schools, government agencies and financial institutions. Its products and services help the customers achieve greater efficiency, automation, and lower operating costs, thus yielding higher profits.
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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.
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