ClearPass Starts Production on New CP5000 System for Airport, Corporate and Homeland Security.Business Editors & High-Tech Writers FOUNTAIN VALLEY Fountain Valley, city (1990 pop. 53,691), Orange co., S Calif.; inc. 1957. Chiefly residential, Fountain Valley also has diverse manufactures, including apparel, computer equipment, semiconductors, and medical equipment. A U.S. navy helicopter facility is there. , Calif.--(BUSINESS WIRE)--Feb. 4, 2003 Providential prov·i·den·tial adj. 1. Of or resulting from divine providence. 2. Happening as if through divine intervention; opportune. See Synonyms at happy. Holdings, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PRVH) (www.phiglobal.com) today announced the completion of its ClearPass' all new CP5000 free-standing unit, using an innovative biometric authentication technology originally developed by Lucent/Bell Labs (NYSE NYSE See: New York Stock Exchange :LU), which is believed to be in great demand for airport, corporate and homeland security. The CP5000, which will be ready for large shipment quantities in the US by mid March 2003, also has other applications such as physical access, time attendance, high security peripherals, and membership verification. ClearPass management believes due to its superior product line and the currently urgent need for any security related products, the company will generate significant revenues within the next few quarters. ClearPass is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Providential Holdings, Inc. The CP5000 is the most accurate and technologically advanced fingerprint recognition system available today. Embedded with a touch chip developed by the scientists at Lucent/Bell Labs, the CP5000 has the capabilities to identify and grant or deny access to thousands of users. Using both the fingerprint and live sweat glands to establish a foolproof identification process which has recognition time of 0.5 seconds, False Accept Ratio (FAR) of 0% and False Reject Ratio (FRR FRR Free Registration Required FRR Flint River Ranch (Chapel Hill, North Carolina) FRR False Rejection Rate (biometrics) FRR Fast Reroute (MPLS protection scheme) ) of 0.0001%, the CP5000 takes security to a new level by eliminating pin numbers and ID tags which can be lost or forged. About Providential Providential Holdings, Inc. is a diversified holding company committed to creating shareholder value through growth. The company focuses on selective technologies, financial services, international markets and special situations. Products and services include liquid crystal displays (LCDs), mobile entertainment systems, information technology, identification technology, telecommunications, and computer hardware and software. The Company also engages in trade commerce and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : www.phiglobal.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. : Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies. |
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