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SiVault Systems and Signix Form Strategic Alliance.

SAN JOSE, Calif. -- SiVault Systems, Inc. (OTCBB: SVTL.OB), today announced a strategic alliance with Atlanta, GA-based Signix, Inc., a trusted authority in signature verification and authentication of the legal identity of people transacting business through a web site or using online electronic forms.

With several target markets in common, including financial services and healthcare, there are numerous opportunities where a combination of the two companies' web service offerings provides a complete turnkey solution. The complimentary nature and interoperability of the companies' technologies enables them to promote each other's products and services as extensions to their own or as stand alone capabilities when making sales calls.

Signix's solution verifies and authenticates the legal identity of prospects interacting with web sites or online electronic forms and provides the means to obtain legal digital signatures on required documents, thus eliminating the need to print and mail paper forms previously requiring a wet signature. SiVault Systems stores and retrieves biometric signatures for verification at the point of sale or completion of the transaction.

Chief Executive Officer and President Emilian Elefteratos of SiVault Systems noted that the combination of SiVault's common set of standard services for the processing of large volumes of financial and non-financial transactions with Signix's sophisticated identity verification solution will further accelerate the elimination of using paper-based approvals and advance the use of digital processes. Signix's patent pending solution is ideal for high-value online transactions that require a high level of identity verification, he added.

"I am pleased to have established a strategic alliance with Signix that will benefit both our organizations. The ability to offer our customers the strongest identity verification solution for online situations in conjunction with our transactions services means that regardless of the value of the transaction, SiVault Systems will deliver the most trusted electronic transaction services. We can address everything from small retail transactions to large real estate and insurance transactions that take place in today's electronic world," Elefteratos said.

President Pem Guerry of Signix, Inc., said, "SiVault Systems' unique set of services is an excellent fit with Signix's digital signature solution. Using the technologies together makes it possible for a wide range of significant transactions to be legally executed over the Internet instantaneously."

About Signix (www.signix.com)

Signix is a digital signature solution provider headquartered in Atlanta, GA with offices in Chattanooga, TN. The Company's patent pending technology allows online visitors to a Web site to be rapidly authenticated and issued digital signing credentials, enabling them to apply legally-binding signatures to documents utilizing the browser from any PC. Signix offers an advanced implementation of PKI, or public key infrastructure, which makes this highly secure technology practical and cost-effective for a wide range of new applications. For more information, visit the companies' web site at www.signix.com.

About SiVault Systems (www.sivault.com)

Founded in 1999, SiVault Systems is a recognized leader in the secure storage and retrieval of signed documents and biometric signature-based authentication for processing of online transactions. SiVault Systems' services are 100% compliant with regulations and standards in the retail and healthcare industries for authentication, authorization, transmission and storage of data. For more information, visit the companies' web site at http://www.sivault.com.

Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995:

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. SiVault Systems, Inc. cautions readers that statements regarding this transaction, the timing of such a transaction and any other future aspect relating to such a transaction are forward-looking statements and are based on management's current expectations, estimates and projections. Words such as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks and uncertainties, including the Company's ability to market its products and services in a competitive environment, as well as other factors, many of which are beyond the Company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. For additional information on these uncertainties, please see the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. SiVault Systems and its logo are trademarks of SiVault Systems, Inc. All other trademarks are the property of their respective holders.
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Publication:Business Wire
Date:Feb 14, 2005
Words:799
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