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BIO-key(R) Awarded $2 Million Biometric Contract by Multi-National Company

WALL, N.J., June 2 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in wireless public safety and finger-based biometric identification solutions, today announced that it has been awarded a $2 million contract to integrate its biometric technology with a large multi-national technology company. BIO-key will license components of its VST(TM) finger matching software to be used on multiple, large international and domestic opportunities.

Under the terms of the license agreement, BIO-key received a $2 million order for software licenses that will be delivered during the second and third quarters of the current fiscal year. Additional details of the agreement will be provided at a later date.

Mike DePasquale, BIO-key's President and CEO, said, "We have been talking about an inflection in the ID management industry over the past two quarters, and BIO-key's position as a leader in delivering the most advanced finger biometric software in the business. This contract is a validation of the strength of our technology, our business model and the opportunity for substantial growth that exist in our biometrics business unit for sales in both the government and commercial sectors. This is the largest single order that we have received to date and will support our objective of growth and profitability in the near term."

About BIO-key

BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 750 police departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for law enforcement. (

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. The words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

Company Contact: BIO-key International, Inc.

Bud Yanak


SOURCE BIO-key International, Inc.
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