SAN JOSE, Calif., Oct. 28, 2008 (GLOBE NEWSWIRE) -- Titanium Group, Ltd. (OTCBB:TTNUF), a leading biometric and security solutions provider, today announced that the company has signed a partnership agreement with Shenzhen Huiruitong, which owns the brand "WRT," an award winning PRC-based Security System Manufacturer specializing in security solutions for residential and commercial properties. Through this partnership, Titanium's leading biometric technologies will be integrated with WRT's flagship intercom product, resulting in an innovative product called "Biometric Video Door Phone." This product supports not only password and smart card access control for buildings, but can also adopt face recognition as a unique key for residents' convenient access.
"WRT have 35 branches throughout China with more than 3 million users. We feel confident about this brand new product as we have already received a preliminary contract commitment from potential customers with a sum in excess of $1 million in 2009," said Billy Tang, CEO of Titanium Group.
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 Shenzhen Huiruitong
Shenzhen Huiruitong Electrical Appliance (http://english.wrtsz.com/main/index.asp) is headquartered in Shenzhen, with 34 offices and branches in main cities of China. The company focuses on video door phones, including villa system, building system, building network system and home automation. As one of the top-three corporations of China's security industry, the company has 14 years experience in this line, and now we have become one of the leading video door phone manufacturers integrating production, R&D, sales and after-sales service. The brand -- WRT -- is well received in 20 countries in the world, such as Europe, Australia, Asia, the Americas, and the Middle East.
Safe Harbor Provisions
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.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales.
The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.