MONTREAL, May 26, 2006 (PRIMEZONE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY) and Universal Surveillance Systems EAS Inc. (U.S.S. Corporation) today announced the signing of a strategic partnership to market AbsoluteSKY's pervasive RFID (Radio Frequency IDentification) solutions alongside Universal's broad array of innovative and market-leading Electronic Surveillance Products (EAS).
AbsoluteSKY specializes in providing breakthrough RFID product solutions to the specialty retail market. The Company's product suite is an RFID-based hardware and software solution set that integrates multiple technologies to provide retailers with real-time Item-Level Inventory Tracking through the supply chain. The intelliTRACKER(tm) suite delivers huge features and benefits to retailers including the ability to increase inventory turns, virtually eliminate missed sales and gain extensive real-time control over loss prevention.
Universal has been providing intelligent security solutions to leading retailers worldwide since 1996. By combining innovative and state of the art technology with unsurpassed customer service, Universal has quickly become the fastest growing company in the Loss Prevention industry. The company's distinguished clientele of specialty retailers includes Nordstrom, Nike Inc., The Sports Authority, Stein Mart, Bed Bath & Beyond, all of the May Company divisions and the Virgin Group.
As part of this agreement, Universal has also agreed not to market any competing products to AbsoluteSKY's intelliTRACKER(tm) suite of products.
"The unique expertise, reputation and retail market presence of Universal represents a perfect fit for us," commented John Frabasile, AbsoluteSKY's President and CEO. "This strategic partnership will leverage our enormous synergies beginning with our extensive knowledge of retail operations to bring our clients unsurpassed efficiencies and cost-saving solutions. Universal also brings us a large, powerful and professional sales force currently dedicated to our focus market of specialty retailers, as well as major relationships with retailers that span the globe."
"Like other industry specialists, we've been carefully monitoring developments in the RFID field very closely for some time. The convergence with EAS has long been expected and with intelliTRACKER(tm), we firmly believe that the time is now," added Adel Sayegh, President of Universal Surveillance Systems. "Moreover, the intelliTRACKER(tm) products suite eliminates the need for a retailer to take a physical inventory, providing a complete store physical inventory immediately at the push of a button. With these kinds of benefits, we're truly excited about the enormous opportunities that lie ahead and are anxious to introduce intelliTRACKER(tm) to our customer base!"
About AbsoluteSKY:
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology solutions for the retail industry. Based in Montreal, Quebec, the Company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's technology and extensive knowledge of their business operations. For more information visit: www.AbsoluteSKY.ca.
About Universal Surveillance Systems:
Universal Surveillance Systems provides innovative protection solutions to leading retailers and loss prevention professionals worldwide. Based in Rancho Cucamonga, California, the company is a widely-recognized "Intelligent Security Solutions" company with a growing range of products that includes electronic article surveillance tags, closed-circuit television systems, digital video recorders and other loss prevention products. Visit the website at www.universaleas.com.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements." Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.