SOURCE: Axium Technologies, Inc.

September 06, 2007 08:00 ET

Axium Technologies Signs Contract Worth $836,257 With the City of Montebello, CA

PASADENA, CA--(Marketwire - September 6, 2007) - Axium Technologies, Inc. (PINKSHEETS: AXGI) is pleased to announce that on August 30, 2007, it signed a contract with the City of Montebello for implementing a video surveillance and graffiti detection project. The contract is worth $836,257 and the Company anticipates that the project will be completed by early December 2007.

The project will include graffiti detection systems for Whittier Boulevard, cameras to monitor illegal dumping activity, and camera systems at city parks and recreation areas. Montebello Police Chief Garry Couso-Vasquez said, "Cameras are the wave of the future, and by signing this agreement with Axium Technologies, we are making the statement that the city of Montebello has zero tolerance for all crime."

Axium was awarded this project as a sole source provider due to Axium's unique patent pending centralized video monitoring software called Maximum and its graffiti detection system.

Mr. Won Soo Chung, CEO of Axium Technologies Inc., stated, "Even prior to this recent agreement with the City of Montebello, our technology has attracted the interest of municipalities looking to enhance security and reduce crime. Since the City of Montebello decided to use our technologies to enhance their safety, inquiries are flooding in from cities across the country." Mr. Chung added, "Business is important, but providing practical solutions for public safety is more important to Axium. We have spent the last two years developing the best video-based solutions for public safety, and it is time to apply them to the real world. Based on the strong levels of interest expressed to date, I believe that we will likely sign similar contracts with several other U.S. cities by year-end 2007."


Axium Technologies, Inc. is a leading provider of surveillance security systems software and hardware. The Company maintains its corporate presence in Pasadena, CA and its Research and Development Facility in South Korea. The Company's primary products include MAXIMUM Surveillance Software, which is the key solution providing interoperability for numerous digitalized security and surveillance products from diverse manufacturers.

The Company's Digital Video Recorders (DVRs) and Network Video Products (NVPs) are targeted at the security and surveillance segments of the gaming industry. The Company's newest product "TaggerTrap" is a state-of-the-art graffiti detection product, which detects, records and alarms local police of graffiti activity. The estimated cost of graffiti clean-up in North America is $1.0 billion annually and millions of dollars have been budgeted over the past year by large metro police departments to detect and apprehend graffiti taggers.

During 2006, Axium Technologies redeployed much of its resources, both fiscal and headcount, to complete development of its current suite of products. With many of these products now in commercialization, management projects 2007 revenues to be approximately $8.8 million.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Security and Surveillance industry; the positioning of Axium products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Axium Technologies can successfully develop new products and the degree to which these products gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

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