Cogent Systems Awarded $20 Million Follow-on Contract from Venezuelan National Electoral Council.SOUTH PASADENA South Pasadena (păs'ədē`nə), city (1990 pop. 23,936), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1888. Medical supplies, clothing, and transportation and electronic equipment are manufactured. , Calif. -- Contract is a Follow-on Award to Initial $54 Million Contract to Cogent COGENT - COmpiler and GENeralized Translator Systems Cogent Systems (Nasdaq:COGT) today announced it has been awarded a one year follow-on $20 million contract from the National Electoral Council in Venezuela for its Automated Fingerprint Identification Systems Automated Fingerprint Identification System (or AFIS) is a system to automatically match one or many unknown fingerprints against a database of known prints. This is done for various reasons, not the least of which is because the person has committed a crime. (AFIS AFIS Automated Fingerprint Identification System AFIS Aerodrome Flight Information Service AFIS Armed Forces Radio and Television Service AFIS Airborne Flight Information System AFIS Automated Fingerprinting Identification System (Pakistan) ) solution. The new order for Cogent's AFIS solution will be utilized, along with the previously installed Cogent AFIS solution, for upcoming mayoral and regional elections in Venezuela Elections in Venezuela gives information on elections and election results in Venezuela. Venezuela elects on a national level a head of state – a president – and a unicameral federal legislature. on October 31, 2004. Cogent was originally selected to provide its AFIS solution for the Venezuelan national referendum, which took place on August 15, 2004. For the original deployment valued at $54 million, Cogent's comprehensive solution included providing customized software See custom software. and configured hardware, as well as installation and maintenance services. Cogent's AFIS solution was utilized to capture voters' fingerprints, create a database, and match the fingerprints to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. voters' identities and prevent duplicate registration. On the day of the National Referendum, over 5.5 million people had their fingerprints captured, searched, and enrolled in 14 hours. The initial contract required Cogent's AFIS solution to return match results for every transaction in less than 20 seconds. Cogent was able to meet this requirement and deliver the system in less than 60 days. Cogent Systems Chairman and Chief Executive Officer Ming Hsieh Ming Hsieh (simplified Chinese: 谢明; traditional Chinese: 謝明; b. 1955) is a billionaire Chinese American entrepreneur and philanthropist and the founder of AMAZ technology in 1987 and Cogent Systems in 1990. commented, "We are very pleased to be selected to provide additional AFIS systems to the National Electoral Council in Venezuela. We are proud to be associated with their program and their commitment to helping eliminate voter fraud with "One Voter -- One Vote." Even prior to this additional contract, we believe our installation in Venezuela is one of the largest and fastest biometric systems in the world. This follow-on contract is a testament to our ability to provide scalable systems that are cost-effective and rapidly deployable. We believe there are many significant opportunities in the civil market for our AFIS solutions and view our success in Venezuela as a positive endorsement for our technology in environments outside of law enforcement and border security." About Cogent Systems Cogent Systems is a leading provider of Automated Fingerprint Identification Systems, or AFIS, and other fingerprint biometric solutions to governments, law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). and other organizations worldwide. Cogent's AFIS solutions enable customers to capture fingerprint images electronically, encode fingerprints into searchable files and accurately compare a set of fingerprints to a database containing potentially millions of fingerprints in seconds. 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 statements as of October 28, 2004, including statements regarding the use of Cogent's AFIS solution in upcoming elections and opportunities in the civil market for Cogent's AFIS solution. These statements are based on the current intention, belief and expectation of Cogent, but are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties include, among others, timely installation of Cogent's AFIS solution for use in the election, the development of the civil market and the other factors discussed under the caption "Risk Factors" in Cogent's Form S-1 which can be found at www.sec.gov. These statements speak only as of the date of this press release and Cogent does not undertake any obligation to update or revise the statements. |
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