Benjamin Netanyahu, former Prime Minister of Israel, To Serve as Worldwide Strategy Advisor to BIO-key International.Business Editors/High Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--Nov. 27, 2001 SAC Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SACM SACM Superfund Accelerated Cleanup Model SACM Saudi Arabian Cultural Mission SACM Stand Alone Cable Modem SACM Statistical Adiabatic Channel Method ) dba BIO-key(TM) International; announced today the retention of Benjamin Netanyahu as Worldwide Strategy Advisor to the Company's Board of Directors and executive management team. Mr. Netanyahu's expertise in security issues, fighting terrorism and international business will greatly assist BIO-key in positioning and deploying its biometric technology to safeguard the American public, prevent identity theft, secure networks and instill in·still v. To pour in drop by drop. in stil·la tion n. privacy. Both private and government sectors have expressed significant interest in the potential of the Company's biometric solution to secure computer networks, facilities and aviation and other public transportation. Mr. Netanyahu served as Israel's Prime Minister from 1996 to 1999. During that time he reduced terrorism by roughly 90%. Mr. Netanyahu championed free markets and economic liberalization Economic liberalization is a broad term that usually refers to less government regulations and restrictions in the economy in exchange for greater participation of private entities; the doctrine is associated with neoliberalism. , embarking on widespread privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned , deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. , and deficit reduction. During his tenure, inflation reached an all time low, while investment in Israel high tech sector reached all time highs. Prior to becoming the Prime Minister, Mr. Netanyahu served as Israel's ambassador to the U.N., Deputy Chief of Mission of Washington, and as an officer in Israel's elite commando unit where he was wounded liberating a high jacked airplane in Tel-Aviv. Mr. Netanyahu is a graduate of Sloan School of Management of the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , and worked as a consultant for Boston Consulting Group. "BIO-key's biometric finger identification technology is an excellent foundation for enhancing security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security in combating terrorism Actions, including antiterrorism (defensive measures taken to reduce vulnerability to terrorist acts) and counterterrorism (offensive measures taken to prevent, deter, and respond to terrorism), taken to oppose terrorism throughout the entire threat spectrum. Also called CBT. , securing data dissemination, access control, and identity fraud," states Mr. Netanyahu. "I'm enthusiastic about assisting BIO-key's management in developing deployment strategies for the use of their technology within their client base. The tragic events of September 11th have brought about a heightened awareness for how biometrics can contribute to a more secure environment for all of us. BIO-key's capabilities are unique to the biometric market place and represent a significant advancement over its competitors." "BIO-key is very excited and encouraged to have the expertise of Mr. Netanyahu available to us. The current addition of his book Fighting Terrorism is a terrific example of the insights he possesses to combat terrorism and secure freedom for us all," Jeffry Brown, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BIO-key states. "Mr. Netanyahu's experience and knowledge in both areas- fighting terrorism and advancing worldwide business- are great assets for our company and we look forward to working with him as our worldwide strategy advisor." "Over the last two months we have demonstrated BIO-key technology to U.S. congressmen and senators, the FBI, FAA, Department of Defense, Defense Intelligence Agency Noun 1. Defense Intelligence Agency - an intelligence agency of the United States in the Department of Defense; is responsible for providing intelligence in support of military planning and operations and weapons acquisition DIA , the State Department, the White House Office of Science and Technology, U.S. Customs and others within the Federal Government," continued Brown. "We have also met with a myriad of enterprise prospects, systems integrators, and network providers. We have entered into evaluation licenses with several of these prospects and are in discussions with others regarding license agreements for BIO-key products and the creation of strategic partnerships. We believe the insights of Mr. Netanyahu will prove to be very valuable to these endeavors and expect to make further announcements in the coming months." BIO-key biometric technologies are cost effective solutions, which can provide security and positive identification on thousands of airport travelers, credit card users, business operators, medical environments and corporate enterprises, and should be considered when evaluating other biometric companies such as Visionics (VSNX), Viisage (NasdaqNM:VISG VISG Visually Impaired Support Group ) and Identix (AMEX AMEX See: American Stock Exchange :IDX (IDX Systems Corporation, South Burlington, VT, www.idx.com) One of the largest health care information systems companies in the country, acquired in 2006 by GE Healthcare (www.gehealthcare.com), a unit of the General Electric Company. ). BIO-key welcomes the opportunity to discuss its technology advantages in working with other biometrics or as a stand alone solution and invites interested persons to contact the Company for an evaluation at www.bio-key.com. Safe-Harbor Statement: Statements contained herein and by other public statements by the Company and its officers, other than historical data, constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends that may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance or events and are subject to risks and uncertainties that could cause the Company's actual results, events or financial position to differ materially from those included within the forward-looking statements. These factors include, but are not limited to, the Company's ability to successfully develop its technology to meets or exceeds user specifications and to obtain additional financing as well as those risks set forth in the Company's Annual Report on SEC Form 10-KSB and its other filings with the Securities and Exchange Commission filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. |
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