SAN JOSE, Calif. , April 15 /PRNewswire-FirstCall/ -- Titanium Group, Ltd (OTC Bulletin Board: TTNUF), a leading biometric and security solutions provider announced today they have secured contracts to deploy its security systems for several large residential complexes, including "Strawberry Hill" on The Peak, one of the most prestigious residential areas in Hong Kong . Both systems will include a variety of state-of-the-art security components such as biometrics access control, intelligent surveillance system, radio frequency identification system etc. The estimated contract sum for the two projects is around US$400K and is expected to complete by Q3 of 2008.
"Following the contract with Kwai Hung Realty Company Ltd. in Oct, 2007
(http://www.ttnuf.com/news/news071024.htm) in which we installed our facial
recognition access control system in the entrance of their deluxe apartment
complex, we are delighted to further expand in this market with two projects
of even larger scale. These two projects are both of extremely high-caliber
which would effectively demonstrate to our products' capability to the
public," said Dr. Johnny Ng , Chairman of Titanium Group. "Looking ahead, we
feel absolutely positive about Titanium's continual growth in this sector.
Hong Kong's high-end property market is booming at a fantastic pace and our
technologies evidently cater perfectly to the market need. More projects are
already in discussion and we fully expect our project revenue in the
residential sector alone to surpass
About Titanium Group:
Titanium Group, Ltd (http://www.titanium-tech.com), and its wholly owned subsidiary Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented Automated Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, enhance security, and significantly increase overall productivity. Titanium's products are distributed worldwide, either directly or through resellers or OEM partners, to governments, law enforcement agencies, gaming companies, and other organizations. The Company's clients include: IBM, Hong Kong Government and the Peoples Bank of China , etc.
Safe Harbor Provisions
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Titanium Group, Ltd. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.