BKYI BIO key International Inc

BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions, today announced its BIO-key PortalGuard® platform is a gold recipient of the 2022 Govies Government Security Award in the User Authentication/Identification/Credentialing and Management category.

The Govies Government Security Awards are awarded annually by Security Today magazine, the top publication for integrated products and technology for the security industry, to recognize exceptional government security products.

The risk of cyber-attacks against state and local governments is on the rise with threat actors looking not only for monetary payouts but also to disrupt critical infrastructure and impact the largest number of people possible. Cities and counties across the country have paid huge ransoms to hackers after ransomware attacks have denied access to files or hackers threatened to release sensitive data. As these attacks become more prolific, all levels of government are looking to strengthen their cyber defense models and find tested and proven IAM services.

“This award recognizes the security and convenience offered by our PortalGuard system and substantiates the hard work put in by our team to provide federal, state and local governments with the best-in-class authentication technology,” said Michael DePasquale, BIO-key Chairman and CEO. “We are honored to be selected by Security Today as a leader in providing IAM solutions to government agencies across the country.”

The BIO-key PortalGuard® IAM platform was developed by BIO-key’s security team as a flexible, cost effective and secure method for providing IAM security to its customers. By supporting a range of different methods for multi-factor authentication (MFA) including Identity-Bound Biometrics to verify a user’s identity, BIO-key PortalGuard® offers a unique set of options for organizations to establish MFA security without having to rely on user’s access to their smartphone. This gives government IT departments a greater ability to adapt to the individual needs of each department and user while retaining the highest possible level of security for the sensitive data used in public offices and agencies.

“The pandemic has wreaked havoc worldwide, but security manufacturers continued to work hard designing new security solutions for the government sector,” said Ralph C. Jensen, editor in chief, Security Today magazine and securitytoday.com. “This is truly a testament of dedication and vision to ensure the best products are available for government use. Manufacturers should be proud of their employees for providing the best solutions in these challenging times. We appreciate the opportunity to enhance the marketplace by honoring these award winners.”

To learn more about BIO-key’s solutions, visit the company website.

About BIO-key International, Inc. (www.BIO-key.com) BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry leading biometric capabilities, enable large-scale on-premises and cloud-based Identity-as-aService (IDaaS) solutions, as well as customized enterprise solutions.

BIO-key Safe Harbor Statement All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "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 Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2021 and 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. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.

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BIO-key Media Contact: Erin Knapp Matter Communications BIO-key@matternow.com 914-260-3158

Investor Contacts: William Jones, David Collins Catalyst IR BKYI@catalyst-ir.com 212-924-9800