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China Joint Venture Meets With 2008 Chinese Olympic Officials; Sure Trace Completes Globe Staff Acquisition; Acquisition Restructured; Company Issues Restricted Shares As Purchase Price.


PHILADELPHIA -- Sure Trace Security Corporation (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
:SSTY SSTY Subsystem Type ) is pleased to announce that it has completed the acquisition of Globe Staff Consulting (GSC GSC gas-solid chromatography. ).

Unlike the prior acquisition agreement, the main consideration for the purchase was the issuance of restricted stock. The restructured agreement reduced the cash requirements contained in the earlier purchase document, which will free up resources for the Company's China initiative and other endeavors.

Michael Cimino, the Company's President said, "Our Chairman, Jim Mackay, was instrumental in this renegotiation of the acquisition price. Not only did the Company drastically reduce the purchase price, the Company was able to deliver another technology to the Chinese market that it has been clamoring clam·or  
n.
1. A loud outcry; a hubbub.

2. A vehement expression of discontent or protest: a clamor in the press for pollution control.

3. A loud sustained noise.
 for and to further enhance our overall perceived usefulness to the Joint Venture. We recognized a market need and found the way to deliver what they wanted."

Recently, GSC has conducted successful demonstrations of its Globe Track technology with two major international security companies, within the past few weeks and both companies have expressed a strong interest regarding GSC's products and services. Additionally, the French Government has referred a major industry representative to SSTY, via its GSC connections regarding a bold anti-counterfeiting measure aimed at the worldwide retail goods market.

Additionally, our Chinese joint venture, Sure Trace Technology (Beijing) Limited, has also met with the 2008 Chinese Olympic Committee Chinese Olympic Committee (Simplified Chinese: 中国奥林匹克委员会, Traditional Chinese: 中國奧林匹克委員會, IOC code: CHN) represents the People's Republic of China in . Our partner Suneray had presented our anti-counterfeit technology to the Committee for use in tickets, merchandise and credentials CREDENTIALS, international law. The instruments which authorize and establish a public minister in his character with the state or prince to whom they are addressed. If the state or prince receive the minister, he can be received only in the quality attributed to him in his credentials.  as well as GSC's Geo Track technology for use involving the participants in the games.

Also, our Chinese counterpart, Suneray has indicated to our management that several companies will be positioned to begin exploiting the Joint Venture's solutions involving tobacco, documents, to produce and other retail items.

About Sure Trace Security Corporation

Sure Trace is one of the premier systems integrators for anti-counterfeiting and security surveillance applications and a world-class provider of integrated tracking devices. The company intends to deliver turnkey solutions, both onshore on·shore  
adj.
1. Moving or directed toward the shore: an onshore wind.

2. Located on the shore: an onshore beacon; an onshore patrol.

adv.
 and offshore, for governments, armed forces and industry, through its own proprietary technology and through aggregating the technology, products and services of third parties via licensing agreements and or joint ventures. For more information go to: www.suretrace.com.

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.
: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
, by definition, involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Sure Trace to be materially different from the statements made herein.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Jul 12, 2005
Words:457
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