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e-Smart Receives License Approvals From Chinese Authorities
Announced Joint Venture Moves Forward
WASHINGTON, May 10 /PRNewswire-FirstCall/ -- e-Smart Technologies, Inc., (Pink
Sheets: ESMT)("e-SMART" or the "Company") is pleased to announce that the
necessary licenses have been approved in China for the announced joint venture
between e-Smart and Guoxin Wel Telecom, a Chinese corporation principally owned
by entities controlled by the Chinese Ministry of Information Industry (MII).
Pursuant to the March 2004 announced Cooperation Agreement the Sino-foreign
cooperative joint venture in Beijing, China is established for the purpose of
supplying the Biometric Verification System(TM) ("BVS2")(TM) featuring the
Super Smart Card(TM) in order to operate a value-added network or networks that
allow for the nationwide roaming and operation of e-Smart's biometrically
powered multi-application, secure ID & payment smart cards in China, promote
the system and technologies in the government and financial sector and maximize
its usage in as many fields as possible, including healthcare, banking,
immigration and personal identity protection to name a few.
Guoxin Wel TeleCom was established in 1993 under the guidance of the Ministry
of Information Industry (MII) as part of the development of the Chinese
information industry. Guoxin Wel TeleCom keeps pace with the rapidly
developing information industry and, with its expert support system Guoxin Wel
TeleCom has achieved an excellent reputation in the area of Natural Language
Verification and data storage and is a leader in providing advanced products
and technology into the Chinese information industry.
Mr. ZhuXinSheng, General Manager of Guoxin Wel TeleCom said, "we have long
believed in the benefits of e-Smart's advanced biometric technology and, now,
with the licenses approved we are eager to implement this extraordinary system.
With the ever-increasing applications of the Super Smart Card(TM) and the
BVS2(TM) operating platform we are about to deliver a nationwide system that
until now was just a vision."
In response to Mr. ZhuXinSheng's kind and encouraging words, Mary Grace,
President and CEO of e-Smart said, "the approval of the licenses is exciting
news for us and we are just as eager to begin providing our system to the
people of China, giving them piece of mind over identity theft and fraud and
financial crimes. This is a great day for both e-Smart and Guoxin Wel TeleCom
and I believe the beginning of a long and successful relationship."
About e-Smart
e-Smart is the exclusive licensee in the US and Asia of the Super Smart
Card(TM), the Super Smart Passport(TM) and the Biometric Verification Security
System(TM) (also known as the "BVS2"(TM)). The Company seeks to be a leading
provider of high technology security systems that can be used to combat fraud
and terrorism throughout its licensed territories. e-Smart's systems and
products enable government agencies and commercial enterprises to continuously
and securely verify the identity of citizens, personnel, customers and any
other persons seeking physical or logical access. e-Smart Technologies offers
what experts believe to be the highest form of identity-based and
credential-based security available with no profiling or erosion of civil
rights.
SAFE HARBOR STATEMENT
Statements in this news release that relate to future plans, financial results
or projections, events or performance are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. While these statements
are made to convey to the public the Company's progress, business opportunities
and growth prospects, readers are cautioned that such forward-looking
statements represent the management's opinion. While management believes such
representations to be true and accurate based on information available to the
Company at this time, actual results may differ materially from those
described.
For more information about e-Smart Technologies, please visit
http://www.e-smarttechnologies.com/ or contact e-Smart Media Relations at
703-768-7477.
DATASOURCE: e-Smart Technologies, Inc.
CONTACT: e-Smart Media Relations, +1-703-768-7477
Web site: http://www.e-smarttechnologies.com/