South Pasadena, CA - August 30, 2007 - Cogent Systems (Nasdaq: COGT) today announced that the Royal Canadian Mounted Police (RCMP), has certified Cogent to submit Miscellaneous Applicant Civil (MAP) transactions as part of the Real Time Identification (RTID) initiative. The RTID initiative was created to meet the growing demands in Canada for fingerprint identification services for criminal, civil, immigration and international needs. RTID vendors are required to complete this certification process for their equipment and systems to ensure that they have appropriate image quality and are compliant with the standard for electronic fingerprint submissions. Only certified vendor products can be used by agencies for civil fingerprint background check applications to access and benefit from the efficiencies of the new RTID initiative in Canada.
"Obtaining certification to transmit MAP fingerprint records is an important accomplishment for us, and it gives us the ability to provide solutions for civil programs in Canada," commented Ming Hsieh, President and Chief Executive Officer of Cogent. "We have already been working diligently with the RCMP and local law enforcement in Canada on implementing our criminal AFIS systems. Now with this certification in place we look forward to addressing civil programs in Canada which will take advantage of the new RTID system, improving the efficiency of civil background checks and identity confirmation. As we previously announced we recently created a new subsidiary, Cogent Canada, which will be focused on providing our solutions for the increasing use of biometrics for both law enforcement and civil applications in Canada."
About Cogent Systems
Cogent is a global biometric identification solutions provider to governments, law enforcement agencies, and commercial enterprises. Cogent provides the highest quality identification systems, products and services with leading technology, accuracy and speed. Cogent's Automated Fingerprint/Palmprint Identification Systems, or AFIS, enable customers to capture fingerprint and palm print images electronically, encode prints into searchable files, and accurately compare a set of fingerprints/palm prints to a database containing potentially millions of prints in seconds. For more information, please visit www.cogentsystems.com
Forward-Looking Statements
This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management's current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Cogent is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.
Forward-looking statements in this press release include, without limitation, express and implied statements regarding Cogent's future growth. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied here. Readers are referred to Cogent's Report on Form 10-Q for the quarter ended June 30, 2007 filed by Cogent with the Securities and Exchange Commission which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: changes in government policies; deriving a significant portion of revenues from a limited number of customers; deriving a significant portion of revenues from the sale of solutions pursuant to government contracts; failure of Cogent's products to achieve broad acceptance; failure to successfully compete; failure to comply with government regulations; negative publicity and/or loss of clients due to security breaches resulting in the disclosure of confidential information; failure to manage projects; rapid technology change in the biometrics market; loss of a key member of management team; termination of backlog orders; loss of limited source suppliers; negative audits by government agencies; failure to protect intellectual property; and exposure to intellectual property and product liability claims. The information contained in this press release is a statement of Cogent's present intention, belief or expectation and is based upon, among other things, existing industry conditions, market conditions, the economy in general and Cogent's assumptions. Cogent may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise. Cogent undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
