ROCHESTER, N.Y., Jan. 26, 2004 (PRIMEZONE) -- Document Security Systems, Inc. (OTCBB:DCSS) announced today that it has received a licensing agreement for two of its leading-edge anti-counterfeiting technologies to be manufactured, marketed and sub-licensed by Pyrotec.
Privately held Pyrotechnical Marketing (Pty) Ltd (Pyrotec) was established in 1961 and is headquartered in Cape Town, South Africa. Pyrotec is a high-end label and voucher printing company offering self-adhesive identification solutions concentrating on innovative, secure high quality labels. Pyrotec specializes in secure pharmaceutical and agrochemical labels, on-pack promotions and general information labeling. The company also works closely with South African government agencies.
"Pyrotec represents our first international licensee and our first security label/ voucher manufacturer. We are very pleased that they have chosen our patented anti-counterfeiting products and processes for inclusion in their product offerings," said Patrick White, President and Chief Executive Officer of Document Security Systems, Inc. "Unlike other technologies on the market, our system requires no expensive hardware or scanners. The difference in our technology is the fact that it's all in the design, which confuses scanners, digital copiers and today's imaging systems and makes it impossible to exact duplicate documents, currency, plastic cards, labels and any other printed images."
Tim Beattie, Product Manager of Pyrotec Brand Protection Division, said that, "Document Security System possesses one of the most powerful anti-counterfeiting technologies we have tested and reviewed. Our high-end customers require the best in regards to security protecting their labels and vouchers. We look forward to working with their company."
Under the terms of the licensing agreement Pyrotec will now be manufacturing and marketing Document Security Systems, Inc.'s new Digital Pantograph System(r) for hidden word identification as well as the multi-color layer system called Prism(r).
Document Security Systems, Inc. is a technology company with patents in printed security features which prevent forgery, duplication, counterfeiting, copying, scanning and re-imaging for any type of printed documents, labels or packaging.
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This release contains forward-looking statements regarding expectations for future financial performance, which involve uncertainty and risk. It is possible the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
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