WASHINGTON, Aug. 10, 2005 (PRIMEZONE) -- CTR Investments and Consulting, Inc. (CTR) (Pink Sheets:CIVX), as a result of a special meeting of the Board of Directors, is pleased to announce the acquisition of Secugraphics USA, a leading provider of passport, visa, electronic banking and identity card technology products and services.
Through the acquisition of Secugraphics USA, a Washington D.C. company, CTR is entering into the financially explosive field of electronically enhanced Visas, Passports Identification Cards and other assured travel documents. This new generation of personal identification documents will be deployed in the US and around the world in coming years. These new style of documents contain biometric data encoded and embedded into the physical paper and can be verified by digital fingerprint iris or by 3d laser facial scan.
A BearingPoint Homeland Security 2002 document estimates that the total Homeland Security 2005 spending, with the U.S. Federal, state and local governments and the private sector included, is estimated to be about $100 billion. The opportunity for Passports, Visas, etc. is estimated to be about $10 billion per year over the next 10 years.
With Secugraphics USA, CTR is developing a comprehensive travel and ID document solution for countries to meet the requirements of the U.S. VISIT program. Paul Palmer, President of CTR noted, "We are now in process of integrating Secugraphics' BioKey ID(tm) identification card and passport products and services with our DataSafe(tm) data capture and control technologies. We believe the combined technologies will provide the highest level of personal information security available in the market place. Furthermore, the technologies are technically superior and significantly cheaper than other personal document providers can offer, which is a large competitive advantage."
About CTR Investments & Consulting, Inc.
CTR Investments and Consulting, Inc. provides a family of information technology services and products used by customers in the financial, government and healthcare sectors. CTR's specialization is in identity information and data assurance, security and encryption technologies. CTR's major offerings are: BioKey ID identity card systems; DataSafe products/services set for capturing and securing electronic documents and information; and a line of Biometric Facial Recognition solutions.
Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause CTR Investments and Consulting Inc. actual results in future periods to differ materially from those expressed or suggested herein. These uncertainties and risks include, without limitation, the inherent uncertainty of research, product development and commercialization, the impact of competitive products and patents, our ability to fund our current and future business strategies and respond to the effect of economic and business conditions generally as well as other risks and uncertainties detailed from time to time in CTR Investments and Consulting Inc. filings with the Securities & Exchange Commission.