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BIO-key(R) Issues Open Letter to Shareholders
Date:7/14/2008

WALL, N.J., July 14 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in wireless public safety and finger-based biometric identification solutions, today issued the following open letter to its shareholders discussing recent improvements in its businesses, operating trends and stock performance.

Highlights:

-- Revenue growth from new biometric customers, recurring licensing revenues and an increase in our installed base of law enforcement customers

-- Deepening of the relationship with Research in Motion ("RIM") and wireless carriers to market and sell BIO-key's public safety mobile solutions
-- Near-term profitability

-- Commitment to build shareholder value

Over the last two quarters, BIO-key announced several significant new orders that reflect the momentum being built in the Company's biometrics business as well as a number of contracts that have increased our installed base of accounts. We are very excited about the new opportunities being generated through our biometrics business that reflect rising levels of global adoption for biometric solutions. In June, we announced that the Company received a $2 million contract for software licenses from a global leader in multi-biometric solutions. We expect to deliver this contract during the second and third quarters of this year. This order represents our largest single biometric order ever. More significantly, the award demonstrably validates the accuracy, speed, scalability and robustness of our VST technology. We believe that our technology's superior performance results in real world applications that dramatically improve our ability to compete for opportunities in future commercial and government projects. Additionally, this contract is tied to a partnership that fuses the strengths of our collective technologies to create a high performance biometric matching solution. The contract, which also includes recurring mai
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SOURCE BIO-key International, Inc.
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