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Bioscrypt Announces Office Consolidation
Facility reduction enables organization to streamline operations and decrease operating costs Toronto, ON (February 12, 2007) – Bioscrypt Inc. (TSX: BYT), a leading provider of enterprise access control technologies, today announced that as part of a cost reduction initiative, it will be closing its El Segundo, California, office and relocating the functions that were performed there to its Toronto facilities. Further to previous efforts in relocating engineering functions from California to Toronto, Bioscrypt is consolidating the remaining functions related to the operations of the southern California office, including sales, marketing and support, to the Toronto facilities. The transition is expected to be completed by the end of April, 2007. Rob Douglas, who has been a Bioscrypt board member since April 2005, will be joining the company, on an interim basis, in the capacity of Senior Vice President of Field Operations to assist in transitioning sales, marketing and customer support to Bioscrypt’s corporate and Canadian headquarters. “I am more excited about the prospects of the company now than I was when I became a director a year ago,” said Rob Douglas, SVP Field Operations of Bioscrypt. “Bioscrypt is a recognized leader in enterprise access control with an exceptional opportunity for rapid and profitable growth. My experience in enterprise hardware and software sales is ideally suited to assisting Bioscrypt in this exciting period of change and I look forward to supporting the outstanding individuals who have built a strong and world renowned organization.” Julia Webb who has held the position of EVP Sales and Marketing will be assisting with the transition through the end of April and will subsequently remain with the company in a consulting capacity thereafter. “I welcome Rob Douglas as Senior Vice President of Field Operations and look forward to his contributions as we transition operations from southern California and deliver on our goals of extending our presence in enterprise access control, growing our sales and delivering value to our shareholders,” said Robert L. Williams, President and Chief Executive Officer of Bioscrypt. “Bioscrypt is aggressively pursuing new opportunities in the emerging markets of identity management and access control and believe we are best able to do this with a centralized management structure. I want to thank Julia Webb for her many years of service and her assistance in ensuring a smooth transition of the functions from the El Segundo office to the headquarters in Toronto.” About Bioscrypt Inc.
Bioscrypt Inc. is a leader in enterprise access control, providing solutions for converged physical and logical access, enabling unified authentication from Door to Desktop®. Bioscrypt's offerings simplify the task of implementing secure access to facilities, equipment and IT networks. The company develops and sells biometric embedded solutions, access control readers and identity and access management software to protect the physical and network assets of international government agencies and leading organizations in the financial services, healthcare, and manufacturing sectors. More information is available at www.bioscrypt.com. Forward-looking (safe harbour) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
- 30 - Bioscrypt and Door to Desktop are registered trademarks and Veri-Series and VeriSoft are trademarks of Bioscrypt Inc. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
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