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Press Release Source: LaserCard Corporation

LaserCard Corporation Receives Purchase Order Valued at $2.7 Million for Optical Memory-Based U.S. Permanent Resident Cards (and 'Laser Visa' Border Crossing Cards
'Green Cards') Monday October 2, 7:30 am ET


MOUNTAIN VIEW, Calif., Oct. 2 /PRNewswire-FirstCall/ -- LaserCard Corporation (Nasdaq: LCRD - News) today announced receipt of a $2.7 million purchase order for the supply of optical memory cards to the U.S. Department of Homeland Security's U.S. Permanent Resident Card ("Green Card") program and the Department of State's Border Crossing Card ("Laser Visa") program.
The purchase order issued by the prime contractor calls for deliveries over a four-month period beginning in September 2006, and maintains continuity of supply and the strategic reserve for these programs until an anticipated longer term subcontract is received.

"We are particularly proud to have been selected again to help fulfill some of the critical identification needs of the U.S. government," said Richard Haddock, CEO of LaserCard Corporation. "Optical Memory Cards are widely recognized as being the most secure among all ID cards issued by the federal government. With no known case of optical memory card's data security having been compromised in nine years of use, this is a track record unparalleled in the ID Solutions industry."

LaserCard Corporation's revenues from the Green Card and Border Crossing Card programs have averaged approximately $9.5 million annually over the last several years.

About LaserCard Corporation

LaserCard Corporation, a leader in secure ID solutions, manufactures and markets LaserCard® optical memory cards with IDLock(TM), chip-ready Optical/Smart(TM) cards and other advanced-technology secure identification cards. The Company has sold over 35 million secure ID cards to meet the demanding requirements for border security, immigration and national identification in countries around the world, including the United States, Canada, and Italy. In addition, the Company manufactures optical card read/write drives and develops optical card system software, card-related ID subsystems and peripherals. The Company operates a wholly owned German subsidiary, Challenge Card Design Plastikkarten GmbH, which manufactures advanced-technology cards and also markets cards, system solutions, and card personalization printers under the cards & more brand.

Forward-Looking Statements: All statements contained in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as may, will, intends, plans, believes, anticipates, visualizes, expects, and estimates. Examples of forward-looking statements in this release include the implication that the Company will be able to deliver the cards per the requested schedule and the expectation that the U.S. government will enter into a contract with its prime contractor which will in turn subcontract with the Company prior to year end. These forward-looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to whether the DHS Green Card and Laser Visa scheduled delivery dates are rescheduled or canceled in whole or in part; whether the Company encounters card production difficulties; whether the U.S. government prior to year end commits to continue these programs, decides to have a long-term contract rather than operate on purchase orders, and chooses to retain the Company's optical card technology; and whether the prime contractor selects the Company as a subcontractor should it be awarded the U.S. government contract as well as the risk factors detailed in the Company's Form 8-K, 10-K, and 10-Q filings with the Securities and Exchange Commission. Due to these and other risks, future actual results could differ materially from the Company's expectations. These forward-looking statements speak only as to the date of this release, and, except as required by law, the Company undertakes no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.




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Source: LaserCard Corporation






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