SOURCE: Applied DNA Sciences

Applied DNA Sciences

October 13, 2010 08:30 ET

Botanical DNA Codes for Luxury Brand as Part of Five-Year, $8.7 Million Agreement

STONY BROOK, NY--(Marketwire - October 13, 2010) -  Applied DNA Sciences (OTCBB: APDN) announced that under the terms of a five-year agreement with an exclusive European luxury brand, APDN would receive a minimum of $8.7 million for supplying the Company with proprietary botanical DNA Authentication codes custom-made for the brand-owner's customers, in order to maintain exclusivity on the agreement in the specified field.

Unique botanical DNA Authentication codes will be used to mark luxury products and link them to specific owners. On signing of the Agreement, APDN received purchase orders for multiple botanical DNA Authentication codes. These purchase orders have already been filled, with repeat orders shipped back to the client. The Company expects to receive approximately $1 million in orders in calendar 2011. Orders are expected to ramp up annually thereafter. While this agreement has been disclosed previously, the Company has decided to release certain financial terms at this time, now that its client's products have reached the market.

As part of this agreement, APDN will receive a fee for each unique Authentication code purchased, with additional fees paid to APDN for authentications. In exchange for exclusive rights in the specified field, the brand-owner has agreed to minimum-volume purchases for each year of the Agreement.

"Our agreement has been working incredibly smoothly and has opened up new possibilities for our client to develop new products that are totally unique and can be marketed and sold to satisfy an elite customer base," stated Dr. James Hayward, CEO, APDN.

About Applied DNA Sciences, Inc.
APDN sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied and protect brands and products in a wide range of industries and provide a forensic chain of evidence that can be used to prosecute perpetrators. To learn more, go to where APDN routinely posts all press releases.

The statements made by APDN may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 23, 2009 and our subsequent quarterly reports on Form 10-Q. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

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