SAN JOSE, Calif., Dec. 26, 2006 (PRIME NEWSWIRE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced that the company has formed an alliance with Elixir Group, one of the largest technology solution providers for the gaming industry in the Asia-Pacific region. This strategic alliance will extend its global presence and enable the company to aggressively penetrate the Asia-Pacific territories.
Titanium Group will provide its patented facial recognition products, systems, and IT solutions in gaming to the largest gaming concession holders in Macau. This premier gaming IT infrastructure offers clients, a full spectrum of system integration and network services. Macau has become known worldwide as the "Monte Carlo of the Orient," and gambling has become a significant part of the city's economy. With all the casinos built in the territory including a number of prestigious Las Vegas-based casinos opening in Macau, it has also become well known as the Asian Las Vegas.
"These great successes are fueling exciting new opportunities for growth in emerging markets. This alliance with Elixir emphasizes our commitment to strengthen a global network of channels capable of extending Titanium's position of leadership within the facial recognition market," said Dr. Johnny Ng, Chairman, Titanium Group, Ltd.
Jason Ma, Chief Executive Officer of Titanium Group, stated the company is aggressively targeting partnerships with companies where partnerships can be mutually advantageous within targeted industries such as Elixir. The fact that Titanium's products have demonstrated a strong demand after recently being commercialized is reinforced by the company's recent announcement of approximately $1.9 million in back orders.
About Elixir Group Limited: Elixir Group Limited is a subsidiary in the Technology Division of Melco International Development Limited, one of the first companies listed on the Hong Kong Stock Exchange. Elixir specializes in technical infrastructure and services for a wide variety of markets, as well as providing IT Production services to the whole Melco Group. With principal offices in Hong Kong and Macau, it is positioned to serve the expanding market for advanced IT services in the Pearl River Delta region. In collaboration with other branches of the Melco Group, Elixir is also extending its reach into mainland China through their offices in Shanghai and Beijing. For more info go to http://www.elixir.com.hk.
About Titanium Group: Titanium Group, Ltd. (http://www.titanium-tech.com) and 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 (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 Act: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.