LUND, Sweden, Oct. 1, 2002 (PRIMEZONE) -- Precise Biometrics AB (publ) (Other OTC:PBMTF) (Stockholm:PRECa), developer and provider of world-leading and user-friendly biometric security solutions based on fingerprints, has signed a distribution agreement with International Electronics, Inc. (IEI) (Nasdaq:IEIB), a security industry leader in the design and sale of stand alone single door and networkable single door access control products. The agreement concerns Precise Biometrics' products for physical access control, and IEI already has placed an initial order for Precise BioAccess(TM) corresponding to a value of 0,5 MSEK.
The agreement signifies that International Electronics, Inc. (IEI) will offer its current and future customers world wide Precise Biometrics' product line for physical access control systems, together with its own security products.
U.S. based IEI is a leading manufacturer and supplier of electronic access control products. The company sells its products to the leading alarm and locking hardware distribution companies and many of the largest security installation companies.
"The cooperation with International Electronics, Inc. strengthens Precise Biometrics' market position within physical access, especially on the U.S. market. With the help of IEI's strong network of resellers we can enhance our sales to the U.S. market within physical access," said Erling Faxoe Nielsen, Director Security Industry at Precise Biometrics.
"We see a growing demand for biometric physical access solutions among our customers. The leading requirement, we believe, is for fingerprint technology. With Precise Biometrics' solutions, we can now offer our customers products to meet this growth market segment," said Jim Lynch, access product manager for International Electronics, Inc.
Precise Biometrics is an innovative security company that supplies world-leading systems for authentication using fingerprints. The solutions supplied by the company replace keys, PIN codes and passwords. The company's products are cost effective and provide security and comfort combined with topclass protection of personal integrity. The range of products includes systems for access control to computers and networks and for building into mobile and terminals, such as mobile phones and portable computers. The company headquarters are in Lund, Sweden. The company also has offices in Stockholm and a U.S. subsidiary in Washington, D.C. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A). For additional information, visit www.precisebiometrics.com
International Electronics, Inc. (IEI) is a security industry leader in the design and sale of stand alone single door and networkable single door access control products; and provides innovative digital keypad solutions for numerous commercial applications such as industrial vehicle asset management. Known for ease of installation and reliability, IEI's DoorGard(TM) and Secured Series(TM) access control systems and Hub Manager(TM) Professional software are used worldwide to control entry to applications such as day care centers, government buildings, universities and health care facilities. The Company, located in Canton, Massachusetts, was recently named to the "Globe 100," the Boston Globe's annual list of topper-forming publicly held companies in Massachusetts. International Electronics, Inc. is listed on the NASDAQ exchange (symbol:IEIB). For more information visit www.ieib.com.