SAN JOSE, Calif., Oct. 10, 2006 (PRIMEZONE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced that they have received a purchase order with BARR Security LLC, a company located in Florida focusing on innovative solutions for school management. Titanium's biometric face recognition technology will be marketed throughout the United States by BARR Security.
According to the purchase order, Titanium Group will license their proprietary biometric face recognition technology to BARR Security for marketing distribution in the United States. BARR will also create a number of new design applications, both software and hardware-based, which they will add to their national marketing strategy and networks. One of the initial strategies is to enhance an existing kiosks product, "Barricade," marketed by BARR Security with Titanium's biometric "facial recognition" technology. This particular product is a visitor management system providing an access control screening security solution designed to instantly provide identification, tracking, and screening of visitors. The initial application will be directed to public schools and other educational facilities, which among other benefits will assist in screening out sexual offenders.
"This purchase order from BARR is the first step of a comprehensive plan to bring our dynamic, proven effective security solutions to the largest market in the world," said Jason Ma, CEO of Titanium Group Ltd. "BARR Security will be of tremendous assistance to us in application design and key distribution to the large education market segments in the U.S. We are focused on developing a major presence for our products and technology coast to coast in the United States."
About BARR Security:
BARR Security LLC (www.barrsecurity.com) founded in 2005 provides innovative solutions for school visitor management and security. BARR Security has established over 10 years experience in software development specifically designed for the education market.
BARR Security's premier product, Barricade, engages visitors entering schools with a self registration kiosk. Barricade extracts information from a visitor's drivers license, captures a current photo, registers the visitor's biometric data and compares the information against a national list of registered sex offenders. Barricade's ability to provide information to administrators about visitors before they enter schools is a key component to keeping unwanted visitors out of schools before they become a threat.
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 (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.
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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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