SAN JOSE, Calif., Oct. 14, 2008 (GLOBE NEWSWIRE) -- Titanium Group, Ltd (OTCBB:TTNUF), a leading biometric and security solutions provider, announced today that the company has signed a partnership agreement with GuangZhou InfoWonder, Ltd to launch a biometric network surveillance system. This surveillance system is powered by Titanium's facial recognition technology with integrated functions of user identity authentication, video surveillance, network security monitoring and automatic billing.
Cyber Cafes are popular spots for the public to obtain internet access. Nevertheless, they have also become popular spots for network criminal activities. The public nature of these cyber cafes has made it difficult for the authorities to identify the offenders. The aforementioned system is tailor-made for this purpose, enhancing the security of the cyber world via proper identity management of the users. The total targeted number of installations is over 8,000 in the GuangDong province alone. Revenue would be derived mainly from recurrent service charges, which management projects to be 2 to 3 million per year.
About Titanium Group
Titanium Group, Ltd. (http://www.titanium-tech.com), and its wholly owned subsidiary Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented automated Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, enhance security, and significantly increase overall productivity. Titanium's products are distributed worldwide, either directly or through resellers or OEM partners, to governments, law enforcement agencies, gaming companies, and other organizations. The Company's clients include: ESPN, IBM and the People's Bank of China.
About GuangZhou InfoWonder, Ltd
GuangZhou InfoWonder engages in development of network security applications, with flagship products of anti-spam systems, network monitoring systems, and intranet surveillance systems. The company has recently dedicated its effort on security management systems for Cyber Cafes and is currently a key consultant of the GuangDong Province Cyber Police Department, advising the authorities on implementing rules and guidelines for Cyber Cafe security in the province.
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Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Titanium Group, Ltd. (the ``Company''), as well as those contained herein, that are not historical facts are ``forward-looking statements'' within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``seeks,'' ``estimates,'' and similar expressions are generally intended to identify forward-looking statements.
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