SAN JOSE, Calif., Aug. 22, 2006 (PRIMEZONE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced a contract with Amway China Co. Ltd., a subsidiary of Amway Corporation, to provide its ProAccess FaceGuard security solution in Amway's data center, located in Guangzhou, China. Titanium is protecting Amway's centralized data center in China, which houses masses of vital data and information about its products and its proprietary research and development programs. The Titanium ProAccess FaceGuard product is used in conjunction with Amway's existing smart card system for security protection providing multiple, comprehensive authentication.
Guangzhou is the headquarters of Amway China, servicing over 200 retail outlets in China. Amway China is the largest single regional market in the world for the Company, with annual sales of more than US$2.1 billion in 2004. Amway China also employs over 5,300 people.
"We offer a proven effective security solution at Titanium," said Billy Tang, Chief Operation Officer of Titanium Group, Ltd. "The fact that the smart card system is unable to protect against unauthorized possession of the smart card is a major limitation. Our ProAccess FaceGuard product with biometric security technology combines a smart card system and facial recognition technology for more secure and convenient physical screening control. In addition, it can also provide auditing on potential intruders to maximize security protection while minimizing risk."
"The information stored in Amway's data center is of paramount importance and is being protected now with the highest degree of security due to our highly accurate and secure screening system," said Jason Ma, CEO of Titanium Group, Ltd. "We are confident that once Amway sees that our ProAccess FaceGuard product not only provides security and convenience to a great extent but the fact that they can also take huge advantage of its accuracy and efficiency we will be able to generate further business from Amway on a worldwide basis."
About Amway Corporation:
Amway Corporation was started more than 40 years ago by Jay Van Andel and Rich DeVos. Today, Amway's business operations reach into more than 80 countries and territories worldwide and support more than 3 million Business Owners. Amway is part of an international organization with annual sales in excess of US$6.4 billion and offers more than 450 different company-branded products and services globally.
About Titanium Group:
Titanium Group, Ltd. (http://www.titanium-tech.com), and 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 (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, 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.