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LOCKHEED MARTIN AND IRITECH COLLABORATE TO DELIVER ADVANCED BIOMETRICS SOLUTIONS

GAITHERSBURG, MD, November 6, 2007 ? Lockheed Martin [NYSE: LMT] and IriTech, a leading provider of iris recognition technologies, have signed a cooperation agreement to provide integrated biometrics solutions for a variety of customers. The agreement will enable cooperation in the rapidly growing marketplace for biometrics solutions.

“As a systems integrator, we’re committed to finding and furthering promising new technologies,” said Bob Eastman, Lockheed Martin Vice President, Information Systems. “This agreement with IriTech will help both organizations offer more capable solutions to our customers. It’s one of the many ways we are working to support and foster an open, innovative technology landscape in biometrics.”

Lockheed Martin is a leader in biometrics solutions and provides a full range of technologies to law enforcement, homeland security, military and intelligence customers. In May, the corporation opened its Biometric Experimentation and Advanced Concepts (BEACON) facility in White Hall, WV, to serve as a collaborative center to develop integrated biometrics solutions. BEACON provides a laboratory environment where technologies such as IriTech’s can be integrated into an end-to-end service-oriented architecture.

“We’re excited to be working with Lockheed Martin on this important technology,” said Dr. Daehoon Kim, CEO and President of IriTech. “The agreement gives us the opportunity to integrate our patented iris recognition algorithms with a variety of biometric systems and technologies. This will help us develop more powerful, open solutions to support a number of missions, customers and architectures.”

Based in Herndon, VA, IriTech specializes in highly advanced algorithms and software systems that enable accurate iris recognition, a key component of biometric identification. IriTech is currently licensing its iris recognition software and offers its ultra-small iris camera modules to various customers. IriTech is active in developing iris recognition standards in partnership with the American National Standards Institute (ANSI) and the International Organization for Standardization (ISO). The company’s technology was successfully tested by the National Institute of Standards and Technology (NIST) and Lockheed Martin’s systems integration labs.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. The corporation reported 2006 sales of $39.6 billion.

Please Contact Travis Jaeger at jaeger@iritech.com or Dr. Daehoon Kim at dhkim@iritech.com or by phone at (703) 787-7680 if you have questions or need any additional information.

Sep 2007      IriTech participates in the 2007 Biometric Consortium.
Aug 2007      IriTech forms strategic partnership with Lockheed Martin.
Mar 2007      IriTech forms partnership with Biometric Intelligence and Identification (BI2) Technologies.
Mar 2007      Full results released from NIST’s Iris Challenge evaluation 2006. Out of eight participants, IriTech is one of only three entities (2 companies) able to complete this evaluation. ICE 2006 consisted of 29,056 right eye and 30,502 left eye iris images drawn from 240 subjects captured with an LG EOU 2200 camera. IriTech’s results with the NIST ICE tests grant strong independent third party validation to IriTech’s core iris identification technology.
Dec 2006      IriTech’s camera, the NEORIS 20000, is inspected by the Chinese government for sale in China. This inspection is extremely rigorous, requiring a false accept rate (FAR) of less than or equal to 0.0001% and a false reject rate (FRR) less than or equal to 0.05%. The NEORIS 2000 easily passes these tests, achieving perfect accuracy--a FAR and FRR of 0.000%.
Sept 2006      IriTech successfully attends the 2006 Biometric Consortium Conference and 2006 Biometrics Technology Expo where IriTech exhibits the results of tests with the CASIA, ICE, and UBIRIS databases. IriTech presents, in particular, its technology's high accuracy even with the color images of the UBIRIS database. A conference catalog, including IriTech's test results with CASIA, ICE and UBIRIS databases can be found here.
June 2006      IriTech participates in the US National Institute of Standards and Technology Iris Challenge Evaluation (ICE). ICE 2006 is a large scale, open, independent technology evaluation of iris recognition technology. Iritech looks forward to confirmation of the superiority of their technology.
Oct 2005      IriTech and APTC Trading Co., Ltd. sign Distributorship Agreement. APTC will sell the product provided by IriTech including Iris Identification System, in the territory of Middle East and North Africa.
Jul 2005      IriTech and Shenzhen Sang Da Baili Electric Co., Ltd. sign the Manufacturing Agreement. Under the license from IriTech, Baili will manufacture the Iris Identification System including camera
May 2005      IriTech and P.T. TEXMACO MICRO INDO UTAMA sign the Manufacturing Agreement. Under the license from IriTech, TEXMACO will manufacture the Iris Identification System including camera. In addition, TEXMACO will sell the product in several South-East Asia countries by itself and in Middle-East through the designated Distributor.
     
Dec 2004      IriTech and Shanghai DORCON Technology Co., Ltd. in China sign Supply Agreement. IriTech undertakes to supply cameras and software for Iris recognition, and DORCON undertakes to manufacture and sell Access Control Systems which shall be made from above product. DORCON's area of primary responsibility for sales is the People's Republic of China.
Aug 2004      IriTech Announces Development of New "Iris642"
This high performance embedded system is based on Texas Instrument's DM642 DSP processor. The"Iris642" incorporates all of IriTech's iris and face identification technologies and will soon be expanded to work with most off-the-shelf embedded or mobile devices that meet speed and memory requirements.
May 2004      IriTech participated in a trade delegation to Malaysia organized by the Korean Ministry of Commerce, Industry and Energy to meet with system integrators and security companies.
April, 2004      Iridian and IriTech Settle Patent Litigation
"In April, a longstanding patent infringment suit brought by Iridian against IriTech in the United States was settled on terms mutually agreeable to both parties. Also, a suit brought by Iridian in the UK was settled on the same terms in June of 2004."
April 2004      IBG Biometric Industry Report Notes IriTech as alternative to Iridian. The "Biometric Market and Industry Report 2004-2008" published by the International Biometric Group reports "Alternative iris recognition approaches based on non-Iridian algorithms have begun to emerge to compete in this space. IriTech is the most notable of these providers. IriTech has become an active participant in the development of international standards dedicated to interoperable iris imaging and formats."
March 2004      IriTech participated in a trade delegation to Japan organized by the Korean Ministry of Commerce, Industry and Energy to meet with system integrators and security companies.
     
November 2003      IriTech signs an agreement with Shinsei Co., Ltd. Of Osaka, Japan to provide marketing and promotion consulting services in Japan.
August 2003      The first draft of an Iris Image Interchange Format Standard, including IriTech proposed conditions, is approved by the International Committee for International Technology Standards Task Group.
June 2003      A patent for IriTech's iris recognition algorithm is issued in Taiwan.
May 2003      IriTech signs a distribution agreement with APTC for sales in the Middle East.
February 2003      IriTech joins forces with STG of Virginia to pursue federal government contract opportunities under an ECS3 contract schedule.
     
October 2002      A patent for IriTech iris recognition algorithm is issued in Korea.
July 2002      IriTech moves its headquarters to Vienna, Virginia office.
     
June 2001      A patent for IriTech's iris recognition algorithm is issued in the US.
     
March 2000      IriTech opens its office in San Jose, California.