SAN JOSE, Calif., Oct. 5, 2006 (PRIMEZONE) -- In a release issued earlier today, note that the Company name was incorrectly spelled as KOSMA in the headline. The correct spelling is KOMSA.
Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced a distribution agreement with KOMSA Technology Development Co., Ltd., a developer and manufacturer of digital video surveillance products. Titanium Group's core ProAccess FaceGuard product will be promoted to KOMSA's existing customer base as well as banks, hotels and government agencies throughout China. In addition, KOMSA will integrate Titanium's highly accurate, secure screening face recognition technology within their products.
"KOMSA is one of the most active players in the digital surveillance arena throughout China today and garners a client list consisting of some of the most prestigious names in the banking industry in China such as Shenzhen Commercial Bank, Shenzhen China Merchants Bank and Nanjing China Construction Bank," said Jason Ma, CEO of Titanium Group, Ltd. "Our distribution agreement with KOMSA gives us access to their customer base, who we believe are ideal candidates for our biometric products and another entry into key banks, hotels and access to government contacts. In addition, we feel it is very much a synergistic relationship with KOMSA since they will be able to utilize our dynamic facial recognition technology within their very own products."
Billy Tang, Chief Operation Officer of Titanium Group, stated the company is aggressively targeting partnerships with companies where strategic relationships can be leveraged and complementary for both parties within targeted industries such as KOMSA's. The fact that Titanium's products have demonstrated strong demand after recently being commercialized is reinforced by the company's recent announcement of approximately $2 million in back orders as well as word that their newest "facial recognition engine" achieves a false positive acceptance rate of less than 0.1 percent and a verification rate of over 99.9 percent.
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 compares the facial images to a database containing millions of faces. These cutting-edge products reduce administration costs, 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.
CONTACT: The Cervelle Group Investor Relations David Donlin (407) 475-9966