The Arab National Bank in the Kingdom of Saudi Arabia Selects Bioscrypt’s V-Prox Finger Scan Reader

Toronto, ON -- March 15, 2005

The Arab National Bank in the Kingdom of Saudi Arabia Selects Bioscrypt’s V-Prox Finger Scan Reader
Group 4 Nesma Delivers Security Solution Featuring Bioscrypt Technology to Saudi Arabia ’s Leading Financial Institution

Toronto, ON (March 15, 2004) - Bioscrypt Inc. (TSX: BYT), a leading provider of identity verification technology, announced today that the Arab National Bank (ANB) has selected V-Prox finger scan readers to supplement and strengthen the security of its headquarters and offices. By incorporating this leading technology into its security infrastructure, ANB is demonstrating that it takes the security responsibility it has to its customers and shareholders seriously and that the safeguarding of any asset under its custody is of paramount importance.

People, whether they are shareholders or customers, must be confident that their assets and information, not just cash, are guarded with the highest level of security available. ANB realizes that among the features individuals look for in selecting a financial institution is comfort in knowing that their interests are safe. It is for this reason that leading financial institutions like Arab National Bank are turning to biometrics to strengthen access control security systems.

“Providing a haven for people to keep the assets they value is a responsibility we take very seriously,” said Mr. Nemeh Sabbagh, Managing Director and Chief Executive Officer, Arab National Bank. “Adding Bioscrypt’s biometric access control reader to our security solution elevates the level of protection we offer as it ensures that only the right people can access restricted areas.”

The Riyadh branch of Group 4 Nesma was responsible for the procurement and installation of Bioscrypt’s readers for this project. In early 2003, the Arab National Bank decided it needed a kingdom wide system, incorporating integrated biometric time and attendance with an electronic access control system. A detailed specification document was issued setting out the present and future needs of the system by the bank, to which Group 4 Nesma responded. The tender process was detailed and complex, with Group 4 Nesma eventually coming out on top of the 6 companies short-listed. Prior to the award of a contract, a rigid approval process was undertaken where Group 4s Multimax software application and Bioscrypt’s product were both tested by the Bank’s IT service provider, gaining the approvals they required.

“Bioscrypt’s technology is highly advanced and has proven over time to be extremely reliable,” said Nelson Fernandez, Group 4 Nesma. “Ease of management and administration of the software user interface across the extensive existing IT infrastructure was paramount. Bioscrypt’s V-Prox finger scan readers were required along with Group 4 proximity card readers for distribution to over 200 doors across the head office and Annex building of the bank, ensuring a safe and secure environment for staff and visitors alike, whilst at the same time preventing trespass. The system needed to provide extremely secure applications for sensitive areas, which were fully auditable and provided real time alarms. While this was our first major installation with Bioscrypt in Saudi Arabia, I am confident that many more are soon to follow.”

“The Arab National Bank represents the best of financial institutions amongst its peers and we are privileged to have added them to our family of users,” stated Robert Williams, President and CEO, Bioscrypt. “We are further pleased to be delivering our technology to the Arab National Bank through our long time channel partner Group 4. This partnership has been mutually beneficial over the years and I believe there is significant opportunity for us both to prosper further.”

About Arab National Bank

Arab National Bank (a Saudi Joint Stock Company) was formed pursuant to Royal Decree No. M/38 dated 18/7/1399H (corresponding to 13/6/1979). The Bank commenced business on February 2, 1980 when it took over the operations of Arab Bank Limited in the Kingdom of Saudi Arabia. Arab National Bank operates 117 branches in Saudi Arabia and has a branch in London, UK. Arab National Bank offers a full range of domestic and international products and services, both commercial and Islamic, to the retail and corporate sectors. The Bank also offers a consultancy and investment service, mutual funds and assets management, local & international equity trading, foreign exchange and treasury services. For more information, visit the Arab National Bank Web site at http://www.anb.com.sa/default.asp .

About Group 4 Nesma

Group 4 Nesma for Security and Safety Ltd is a joint venture company with Saudi Arabia based Nesma group and Group 4 Securicor plc. This joint venture came into being on 15th June 1997 looking into the Kingdoms potential on the needs and requirements for electronic security systems. The Saudi Arabian Operation is mainly on the Technical systems with Fire and Security covering the major portion of the business, the head office is based in Riyadh and branch offices in Eastern and Western province of the Kingdom.

About Nesma

Nesma operates in the fields of engineering, telecommunications, power, marine, construction, oil and gas, real estate and IT. For nearly twenty years the company, in collaboration with its many operating divisions, has been providing the skills, services and manpower resources needed to undertake and complete major projects in these challenging sectors.

About Group 4 Securicor plc.

Group 4 Securicor plc is a leading international security services company operating in some 100 countries around the world with over 340,000 employees. The company operates in three key sectors: Security Services (including Manned Security and Justice Services), Security Systems and Cash Services. Group 4 Securicor was formed from the merger between Securicor plc and Group 4 Falck A/S’s security business, which completed in July 2004. For more information, visit the Group 4 Securicor Web site at www.group4securicor.com/home/home.htm .

About Bioscrypt Inc.

Bioscrypt Inc. is a leading provider of identity verification technology. The Company's solutions combine the convenience of touch with the high security of fingerprint-based biometrics for simple and secure access to facilities, equipment and information. Using the "bioscrypt on board™" brand, the Company offers packaged products, OEM components and software licensing to leading security solution manufacturers and integrators worldwide for physical, wireless and network security applications. Among the many leading edge companies and partners using Bioscrypt technology are the U.S. Army, NASA, American Express, the New York Police Department, Kronos, NATO, Continental Airlines, Intel, Atmel, HID Corporation, Honeywell and Northern Computers. Bioscrypt's patented technology is interoperable with leading fingerprint sensors and is both platform and operating system independent. Bioscrypt is traded on the Toronto Stock Exchange under the symbol BYT. For more information, visit the Bioscrypt Web site 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.

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Bioscrypt Inc., Bioscrypt and V-Smart, are trademarks of Bioscrypt Inc. All other trademarks or registered trademarks referenced herein are properties of their respective owners.

For more information, contact:

Matthew Bogart
Bioscrypt Inc.
905-624-7717