Biometrics 2000, Inc. Begins Joint Venture/Marketing Agreement with Autostar.Business Editors/High-Tech Writers SPRINGFIELD, Mass.--(BUSINESS WIRE)--Jan. 15, 2004 Biometrics 2000 Corporation ("BIO") a 4-year-old biometrics company with a next generation product line of biometric tactile sense access control devices and advanced fingerprint scanner/verifier hardware and software, announced today that it has entered into an international distribution agreement with Saudi Operations and Maintenance Company (SOMC SOMC Southern Ohio Medical Center SOMC Service Oriented Mass Customization SOMC Start-Of-Message Character ), which is owned and operated by His Highness Khalid Bin Fahd Al-Failsal. The agreement gives SOMC the right to distribute BIO products and services in 11 countries throughout the Middle East. The countries include Bahrain, Cyrus, Egypt, Iraq, Jordan, Lebanon, Kuwait, Oman, Quatar, Syria and Yemen. SOMC will be responsible for marketing in the Middle East region, and will employ its regional sales forces to sell BIO product. Joseph Turek, 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. and Founder of Biometrics 2000, said, "This is a great fit for Biometrics 2000 and SOMC because we fill a real need in the Middle East with our unique product and service mix and they have vast experience and contacts throughout the Middle East. We are also thrilled to be working with His Highness; his insights into the region are invaluable." Michael Roetheli, Director of Marketing for Biometrics 2000, said "This agreement combined with our recently announced agreement with Autostar Technology, PTE LTD PTE LTD Private Limited . gives Biometrics 2000 a complete Far East and Middle East distribution channel." BIO is in the process of completing a merger with VillageWorld.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VILW). Terms of the merger agreement provide that BIO will merge into a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of VillageWorld and in exchange the shareholders of BIO will be issued shares of VillageWorld's Common Stock that will approximate 55 percent of the outstanding shares of VillageWorld following the transaction, calculated on a fully diluted basis. About Biometrics 2000 Biometrics 2000 is a company that develops identification and security products that recognize people through their unique characteristics such as fingerprints. Fingerprint readers solve the significant problems associated with traditional access methods from a security standpoint. Fingerprint technology also will be preferred in the future over other methods such as smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. , magnetic stripe cards A magnetic stripe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card. and conventional keys all of which can be lost or stolen. About Saudi Operations and Maintenance Company (SOMC) Operations and Maintenance Company is a Riyadh based company specializing in integrating and operating high tech security and information system solutions in the kingdom of Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. . About VillageWorld.com VillageWorld.com's subsidiaries, VillageNet, Inc. and Intelligent Computer Solutions, Inc. have ceased operations in preparation for the consummation of the merger of Biometrics 2000 Corporation ("Biometrics") into the Company's wholly owned subsidiary, Biometrics 2000 Acquisition Corporation ("BAC BAC abbr. blood alcohol concentration "). The Company is continuing work on certain consulting projects; however, it is anticipated that the operations of the Company following the consummation of the merger will consist of continuing and advancing the business of Biometrics 2000 Corporation. This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future revenues, cash flows and capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to consummate the merger, the company's ability to develop its new business, the company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's products and services, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved. |
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