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ComnetiX Board of Directors Re-affirms Support of L-1 Offer.


ISS ISS

See Institutional Shareholder Services (ISS).
 Reverses Previous Recommendation and Advises Shareholders to Vote in Favor of L-1

STAMFORD, Conn. -- L-1 Identity Solutions, Inc. (NYSE NYSE

See: New York Stock Exchange
:ID) today reported that the ComnetiX Board of Directors has reaffirmed support of the L-1 offer to purchase all issued and outstanding shares of ComnetiX stock. Additionally, one of Canada's leading authorities on proxy voting and corporate governance Corporate Governance

The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law.
 issues, Institutional Shareholder Services of Canada Corp. (ISS), recently reversed its position and is now advising shareholders to vote in favor of the L-1 offer. In its analysis, ISS referred to the "certainty of value at a substantial premium" provided by the L-1 cash offer and concluded that "after assessing the pros and cons pros and cons
Noun, pl

the advantages and disadvantages of a situation [Latin pro for + con(tra) against]
 of each of the BIO-key Offer and the L-1 Transaction, we would take cash."

The offer price from L-1 for all issued and outstanding shares of ComnetiX is US $1.12 per share. The total purchase price of the transaction is approximately US $17.1 million.

Under the amended agreement, ComnetiX shareholders will receive US $1.12 per share (subject to adjustment), payable in cash for each share of ComnetiX common stock, if the arrangement is approved by ComnetiX shareholders at the annual and special meeting to be held in Toronto, Ontario on Thursday, February 8, 2007, and if certain other conditions are met.

About L-1 Identity Solutions

L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit www.L1ID.com.

About ComnetiXTM Inc

ComnetiX([TM]) Inc provides secure identification and authentication solutions to both the public and private sectors throughout North America. ComnetiX offers multimode biometric identification solutions for use in areas such as applicant screening, financial services, health care, transportation, airlines and airports, casinos and gaming, and energy and utilities. Clients include American Airlines, Lehman Brothers, New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 Health and Hospital Corporation, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 State Division of Criminal Justice Services, Toronto Police Service The Toronto Police Service (TPS), formerly the Metropolitan Toronto Police, is the police force for the City of Toronto, Ontario, Canada. History
Creation to 1859 reforms
 Board, Boston Police Department The Boston Police Department (BPD) has the primary responsibility for law enforcement and investigation within the city of Boston, Massachusetts. It is the 20th largest department in the United States and is arguably the oldest police department in the country.  and the Royal Canadian Mounted Police Royal Canadian Mounted Police, constabulary organized (1873) as the Northwest Mounted Police to bring law and order to the Canadian west. In 1920 the name was changed to the present title. . ComnetiX is also Canada's premier applicant fingerprinting services company, facilitating tens of thousands of criminal background checks each year through its chain of ten offices across Canada. In addition ComnetiX has established more than 40 applicant fingerprinting services locations throughout the United States.

ID-L

Forward Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release and those made from time to time by L-1 Identity Solutions through its senior management are made pursuant to 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 Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These forward-looking statements reflect the Company's current views based on management's beliefs and assumptions and information currently available. Forward-looking statements concerning future plans or results are necessarily only estimates, and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, among other things, the ability of L-1 to obtain requisite ComnetiX shareholder approval of L-1's proposed acquisition of ComnetiX and close the transaction on a timely basis, the size and timing of federal contract awards, performance on existing and future contracts, general economic and political conditions and other factors affecting spending by customers, and the unpredictable nature of working with government agencies. Additional risks and uncertainties are described in the Securities and Exchange Commission filings of the L-1 Identity Solutions, including the Company's Quarterly Report on Form 10-Q Form 10-Q

See 10-Q.
 for the quarter ended September 30, 2006. L-1 Identity Solutions expressly disclaims any intention or obligation to update any forward-looking statements.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jan 26, 2007
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