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Veridicom International Appoints Technology Industry Leader Dr. Arun Netravali to Advisory Board; Dr. Netravali Is Former Bell Laboratories President.

Business Editors

SUNNYVALE, Calif.--(BUSINESS WIRE)--April 7, 2004

Veridicom International, Inc. (OTCBB:VRDI) today announced the appointment of Dr. Arun Netravali to its Advisory Board. Veridicom International's Advisory Board consists of leading industry representatives with backgrounds in security, technology, and business leadership.

Dr. Netravali was, until recently, President of Bell Laboratories. He was responsible for research and development across all of Lucent Technologies (NYSE:LU). He held a variety of management positions in AT&T Corp. (NYSE:T) and Lucent covering R&D in computing and telecommunications. During his tenure as the President of Bell Labs, R&D productivity improved by 40%, the patent rate climbed to four patents a day, 25 ventures were launched with Bell Labs technology, and numerous leading-edge products were introduced in wireless, optical and data communications.

"I am very excited about sharing my knowledge and expertise with Veridicom through its Advisory Board," stated Dr. Netravali. "The Veridicom technology has grown substantially from its original incubation at Bell Labs, and I look forward to assisting with further technical developments and the product roadmap. Veridicom's identity management solutions are well positioned to meet the growing demand for stronger security and authentication solutions."

"The Veridicom Advisory Board will be a key component in shaping the strategic direction of our technology and product line," stated Paul Mann, President & CEO of Veridicom International. "We look forward to working with Dr. Netravali and others on our advisory board and gaining expertise and market insight for our biometric technology. Our global customers look to Veridicom for leading edge authentication solutions to address the increasing problems of commercial fraud, identity theft, and homeland security."

For his technical achievements, Dr. Netravali has received numerous awards, such as the Alexander Graham Bell Medal (1991), the IEEE Jack S. Kilby Signal Processing Medal (2001), the Padma Bhushan Award from the President of India, which is the nation's third highest civilian honor (2001) and the National Medal of Technology from President Bush (2001).

Dr. Netravali was an adjunct professor at the Massachusetts Institute of Technology and has taught graduate courses at City College (N.Y.), Columbia University and Rutgers University. He serves on the Board of Level 3 Communications and is a trustee of NJ Institute of Technology. Dr. Netravali received his master's and doctorate degrees from Rice University in electrical engineering. He holds honorary doctorates from the Ecole Polytechnique Federale in Lausanne, Switzerland, Osmania University and IIT, Mumbai.

About Veridicom International

Veridicom International offers a suite of identity management products, including hardware and software that utilize public key infrastructure (PKI), secure token-based technology, and fingerprint biometrics to authenticate and manage personal identities for a wide variety of applications and transactions. This platform provides a biometrically authenticated digital signature for financial, travel, and other applications. Veridicom's patented authentication and transaction technology enables real-time authentication of individuals anytime, anywhere, via the Internet, point-of-sale, security kiosk, and mobile devices.

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The Company's actual results could differ materially from expected results as a result of a number of factors, including general business conditions in the industry, changes in demand for products, the timing and amount or cancellation of orders, the uncertainties in research and development programs, the evaluation of potential opportunities, the level of corporate expenditures, capital market conditions, and others set forth in the Company's periodic reports as filed with the Securities and Exchange Commission and published on the Edgar System.
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Publication:Business Wire
Date:Apr 7, 2004
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