INSERTING and REPLACING Digimarc Surpasses 10 Million Voter ID Milestone for Mexico
June 07 2005 - 10:56AM
Business Wire
Insert at the end of the headline: for Mexico The corrected release
reads: DIGIMARC SURPASSES 10 MILLION VOTER ID MILESTONE FOR MEXICO
Digimarc Corporation (Nasdaq:DMRCE) announced today that it has
surpassed the 10 millionth issuance mark in its production and
delivery of the newly designed, secure voter identification card to
the Instituto Federal Electoral (IFE) of Mexico, the government
agency responsible for issuing voter ID credentials. The new system
issues IDs to eligible voters for federal elections and practically
all local elections, and, as the de facto form of ID for many
citizens, is commonly used for identification at banks, stores and
government agencies. Digimarc's production of this world-class,
secure voter ID solution began in March 2004. With the project
running on schedule, Digimarc estimates that the total volume of
secure IDs produced over the life of the contract is between 30
million and 37 million. "We are pleased to have hit the 10-million
card milestone with this important international secure
identification project," said Robert Eckel, president of Digimarc
ID Systems. "By supplying the government of Mexico with a new,
highly secure ID issuance system, we are providing Mexico's
eligible citizens with a secure photo ID that enables them to
establish their identity when voting or conducting other business
where the voter credential is accepted as a form of identification.
This leading-edge program exemplifies the best practices, expertise
and security innovations Digimarc brings to foreign voter and
national ID programs." Under the contract, Digimarc supplies all
card materials and security features, and the operation includes
secure inventory of these materials and a control and audit process
that accounts for every piece of material and every identification
document produced. The IDs are produced in Digimarc's secure
central issuance printing facilities in Mexico, and delivered to
IFE for issuance to eligible voters. Digimarc secure identification
card solutions are used currently in several key ID programs in
Latin America, including Costa Rica, Honduras, Brazil, Colombia,
and Puerto Rico, and are used in more than 20 countries worldwide.
The Company manages the Mexican voter ID program from its offices
in Mexico. About Digimarc Digimarc Corporation (Nasdaq:DMRCE),
based in Beaverton, Oregon, is a leading supplier of secure media
solutions used in a wide range of security, identification and
digital media content applications. Digimarc provides products and
services that enable the production of more than 60 million
personal identification documents, including two-thirds of U.S.
driver licenses and IDs for more than 20 countries. Digimarc's
digital watermarking technology provides a persistent digital
identity for various media content and is used to enhance the
security of financial documents, identity documents and digital
images, and support other media rights management applications.
Digimarc has an extensive intellectual property portfolio, with 194
issued U.S. patents with more than 4,000 claims, and more than 400
pending patent applications in digital watermarking, personal
identification and related technologies. The Company is
headquartered in Beaverton, Oregon, with other U.S. offices in
Burlington, Massachusetts; Fort Wayne, Indiana; and the Washington,
D.C., area; and international offices in London and Mexico. Please
go to www.digimarc.com for more Company information. Securities
Safe Harbor Under the Private Securities Litigation Reform Act of
1995 With the exception of historical information contained in this
release, the matters described herein contain certain
"forward-looking statements" that are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
relating to the expected benefits of the use of Mexico's new,
secure voter ID cards by IFE or citizens of Mexico, statements
relating to the best practices and security innovations delivered
by Digimarc, statements relating to future card production
estimates, and other statements containing the words "believes,"
"expects," "estimates," "anticipates," "will" or words of similar
import or statements of management's opinion. These statements are
based on management's current reasonable expectations and are
subject to certain assumptions, risks, uncertainties and changes in
circumstances. Actual results may vary materially from those
expressed or implied from the statements herein or from historical
results, due to, among other things, changes in economic, business,
competitive, technological and/or regulatory factors. More detailed
information about risk factors that may affect actual results is
set forth in filings by Digimarc with the Securities and Exchange
Commission, including its recent filings on Forms 10-K, 10-Q and
8-K, including, but not limited to, those described in the
Company's Form 10-Q for the quarterly period ended March 31, 2005,
in Part I, Item 2 thereof ("Management's Discussion and Analysis of
Financial Condition and Results of Operations") under the captions
"Overview," "Restatement of Prior Financial Results," "Critical
Accounting Policies and Estimates," "Liquidity and Capital
Resources," and "Risk Factors," and in Part I, Item 4 thereof
("Controls and Procedures").
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