EXHIBIT 99.1
TUESDAY, MARCH 6TH, 2001
COMPANY PRESS RELEASE: FOR IMMEDIATE RELEASE, MARKETING
SAC TECHNOLOGIES, INC. DBA BIO-KEY(TM)INTERNATIONAL INTRODUCES ITS
WEB-KEY(TM)PRODUCT AT THE INTEL(R)DEVELOPER FORUM; COLLABORATES WITH INTEL
CORPORATION IN DEMONSTRATING HEIGHTENED E-COMMERCE SECURITY THROUGH ADVANCED
BIOMETRIC FINGER IDENTIFICATION
Minneapolis Minnesota--March 6th, 2001--SAC Technologies, Inc. (OTC BB: SACM)
dba BIO-key International, introduced and demonstrated its Internet security
product, WEB-key(TM), at the Intel(R) Developer Forum (IDF) held last week in
San Jose California. WEB-key is a `true user identification(TM)' security
solution for Internet/intranet environments and e-business operations operating
on Intel(R) platforms.
BIO-Key provides both true security and personal privacy in e-commerce
transactions. The WEB-Key solution was presented at IDF in the Intel(R)
Itanium(TM) Processor Platform Showcase and included within a keynote
presentation given by an Intel executive. To illustrate how exceptional security
and convenience can coexist, BIO-key, in collaboration with Intel(R), developed
EVACATION (a fictitious e-tailer) as a proof-of-concept demonstration for
e-commerce applications. eVacation demonstrated how consumers can visit their
favorite travel site to book a vacation (or any other e-commerce Web site) and
make an online purchase without entering a member ID, password or credit card
number, illustrating how WEB-key can enhance both security and convenience for
B2C and B2B e-commerce at extremely high speeds and scalability.
INDUSTRY TAKES NOTE OF BIO-KEY'S WEB-KEY PRODUCT
The WEB-key demonstrations drew interest from a number of participants at the
Intel Developer Forum as a potential solution for e-commerce security. BIO-key
intends to meet with these participants and other companies to explore the use
of the WEB-key product. Industry analysts project that during the next few years
biometric technologies will begin to replace many traditional technologies that
are currently being used for authentication and access control. BIO-key believes
its WEB-key product is well positioned to provide security and user convenience
for Internet/intranet environments and e-commerce applications in the growing
biometric marketplace.
WEB-KEY `TRUE USER IDENTIFICATION(TM)' SECURITY AS AN EASY TO USE E-COMMERCE
SOLUTION
WEB-key `true user identification' means that you know who the user is--not just
who they say they are, which is essential for remote user security. This level
of security can only be achieved when data access is based entirely on an
identity trait that can't be transferred, lost, or stolen. A fingerprint has
long been considered just such a trait. BIO-key International has pioneered the
development of high performance, secure, one-to-many fingerprint identification
technology that can be used without a password, PIN, smartcard, cached user ID
or other identifying data. WEB-key is packaged in an easy to use browser plug-in
for Windows clients and Web server plug-in supporting COM and Java; creating a
heightened level of security and user convenience for e-commerce and Web-based
transaction applications. The enhanced security capabilities inherent in the
WEB-key product come from its ability to perform highly secure user finger
identification at the server not on the client. WEB-key's use of session control
and triple-encryption ensures an additional level of security in all
communications across the networks.
Fingerprint identification has historically been difficult to employ online
without additional personal data to speed up the identification process. All
that changes with WEB-key. WEB-key utilizes BIO-key's advanced, patent-pending
identification algorithm called `Vector Segment Technology(TM)' (VST). Using
VST, WEB-key captures enough data from the fingerprint alone to identify
registered users. Whats more, WEB-key stores this data as a compact mathematical
model, enabling rapid comparison against databases of any size. Because WEB-key
stores the fingerprint as a mathematical model, no fingerprint image is stored
on the user's machine or in a database. In addition, the proprietary
mathematical model itself cannot be disassembled to reproduce the fingerprint,
providing a level of personal privacy, security and fraud protection that is
unattainable with traditional systems that employ passwords, PINs' or smart
cards.
Safe-Harbor Statement:
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Statements contained herein and by other public statements by the Company and
its officers, other than historical data, constitute forward-looking statements.
When used in this document, the words "estimate," "project," "intends,"
"expects," "believes" and similar expressions are intended to identify
forward-looking statements regarding events and financial trends that may affect
the Company's future operating results and financial position. Such statements
are not guarantees of future performance or events and are subject to risks and
uncertainties that could cause the Company's actual results, events or financial
position to differ materially from those included within the forward-looking
statements. These factors include, but are not limited to, the Company's ability
to successfully develop its technology, which meets or exceeds specifications
according to contractual performance criteria, as well as those risks set forth
in the Company's Annual Report on SEC Form 10-KSB and other Securities and
Exchange Commission filings. The Company undertakes no obligation to disclose
any revision to these forward-looking statements to reflect events or
circumstances after the date made or to reflect the occurrence of unanticipated
events.
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CONTACT: SAC Technologies, Inc. dba
BIO-key International
1285 Corporate Center Drive Suite 175
Eagan, Minnesota 55121
651 687-0414
Jeffry Brown
jbrown@bio-key.com
www.bio-key.com