Precise Biometrics AB Interim Report, January-September 2002; Breakthrough on the U.S. Market Generates Increased Order Intake

LUND, Sweden, October 15, 2002 (PRIMEZONE) -- Precise Biometrics AB (Other OTC:PBMTF) (Stockholm:PRECa):

The Group's net turnover during the interim period was SEK 11.8 million (8.5).

Losses for the interim period were SEK 54.4 million (49.4).

Liquid capital at the close of the interim period was SEK 13.4 million (61.1).

A cost reduction program decreasing the company's current costs by 30% has been carried out. Results of the program will be fully visible in November 2002.

The breakthrough on the U.S. market has generated an order intake of SEK 7.5 million during third quarter, which is greater than any other quarter.

An order was received from the U.S. Department of the Treasury through MAXIMUS, one of the leading system integrators in the U.S. for the U.S. Government, at a value of at least SEK 2,5 million.

A licensing agreement with Orga GmbH, one of the world's largest smart card suppliers, strengthened the company's position on the smart card market.

The Board of Directors will present a longterm financing solution for the company and make decisions in the matter before the end of October.

Events occurring after the end of the reporting period:

Together with Saflink, the company signed an agreement with an American Fortune 100 company concerning fingerprint identification for 5,000 computers. The total value of the agreement for both companies corresponds to about SEK 7 million. Delivery is expected to be carried out during fourth quarter.

The full report including tables can be downloaded from the following link:

Precise Biometrics is an innovative security company that delivers world-leading systems for fingerprint-based authentication. The company's solutions replace keys, PIN codes and passwords. The company's products are cost-effective, secure and convenient while combining strong protection for the user's personal integrity. The product line includes systems for physical access control, access to computers and networks and for integration in mobile and fixed terminals such as mobile phones and computers. The company headquarters is located in Lund, Sweden. It also has offices in Stockholm and a subsidiary in Washington, DC, USA. Precise Biometrics is listed on the Stockholm Stock Exchange O-list (PREC A). For more information, please visit


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