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Veritec and National Identity Solutions (NIS) Sign Significant License Agreement Entering Into a $500 Billion Marketplace
Date:11/7/2011

ation in many automated industries. Veritec technologies are also applicable in the Secure Bio-ID Cards to provide positive identification via biometric markers such as fingerprints, or pictures. Veritec's Licensed software products have recently been introduced to the banking industries via Stored-Value Cards or credit cards. In the mobile phone industry, Veritec has patented the "PhoneCodes©" products that allow an individual using the Internet or mobile phones to purchase, send, or receive a gift certificate, ticket, coupon, receipt or transfer money.

Further details about Veritec's technologies and its multiple applications can be found on Veritec, Inc.'s website at www.veritecinc.com; www.vtfs.com; www.blinxcard.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC Regulations.

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