SOURCE: STS Evermedia Corporation

June 07, 2007 07:00 ET

STS Evermedia Initiates Iris Technology Development Plan

BOSTON, MA--(Marketwire - June 7, 2007) - STS Evermedia Corporation (PINKSHEETS: STSM) initiated its technology development plan implementing iris recognition systems.

STS Evermedia Corporation implemented the first phase of its iris technology development plan that will enable the company to become a leader in the security and identification markets. Evermedia Biometrics Corporation, a wholly owned subsidiary of STS Evermedia has signed a consulting and teaming agreement with Problem Solutions, LLC of Pittsburgh, PA to assist in performing a full capabilities and validation study of the company's current iris recognition technology and to develop specific applications using the human iris as a prime identifier.

"We have the technology today to replace credit card numbers, passwords, and personal identification numbers (PIN) with the match of the human iris as a qualifier for consumer related transactions. We believe that our non-contact iris recognition technology as a means for identification can serve as a valuable tool not only to eliminate identity theft but to enhance individual privacy as well," said Jonathan Sym, CEO of STS Evermedia. "Individuals and corporations are becoming more and more vulnerable to high tech thefts and iris biometrics can solve many of today's security problems. Last year, it cost U.S. corporations over $59 billion due to identity thefts. This is a serious problem that requires real solutions."

The Company's plan involves three general categories of development:

1. Continue to create state of the art iris recognition software that will easily interface with today's current technological systems so integration is seamless and cost effective (i.e. ATM, online banking, credit card transactions).

2. Develop portable and wireless applications that will allow freedom of movement with no sacrifice in security or speed of delivery (i.e. border, transportation and immigration security).

3. Produce products specifically designed for individual security and comfort (i.e. keyless home/auto access, lost child registration, secure access to medical and financial records).

"Biometric technologies have substantial implications for physical security and beyond. The teaming of Evermedia Biometrics and PS provides a solid launch pad to produce applied solutions technology from financial transactions to physical access. The already powerful iris scanning platform of Evermedia Biometrics will be enhanced with an additional application to allow hybrid operation in new solutions as both a stand-alone and network-driven device," said Michael Hruska, President of Problem Solutions, LLC. "The ISIS (Iris Scanning Information System) application will provide integration capabilities with access control and security integration software systems with ease in all usage scenarios. The technology has a significant potential to carve a foothold for biometrics as a practical, affordable and stable technology."

According to Acuity Market Intelligence, "The iris recognition category will achieve a 16% market share -- the largest of any single biometric modality -- generating $1.5 billion in annual revenues. Iris based access control, identity services, and surveillance will become integral to a range of solutions including border control, government ID programs, ATM usage, and facility, information, and transaction security for power and chemical plants, top secret military and intelligence installations, and financial institutions."

Evermedia Biometrics Corporation has an exclusive, worldwide use and licensing right to a patented and proprietary iris recognition technology first patented in 2001. The company is expecting to publish its full development plan by August 2007.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.

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