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CONTACT: e-Smart® Media Relations
703-768-7477
e-Smart® Technologies to Grant World Developments Corporation Exclusive Rights in Africa
WASHINGTON, May 11, 2007 /PRNewswire-FirstCall
via COMTEX/ – e-Smart® Technologies, Inc., (Pink Sheets: ESMT); ("e-Smart®"
or the "Company") and its parent company IVI Smart Technologies,
Inc., is pleased to announce that in furtherance of the agreement between
World Developments Corporation, WDC, and IVI, WDC has agreed to finance
all projects in the countries of Africa for the right to be IVI/e-Smart®'s
exclusive partner in Africa.
In accordance with the agreement between WDC and IVI, WDC will immediately
advance funds for the manufacturing, delivery, implementation and operations.
IVI will advance the working capital to e-Smart® Technologies, Inc.
To increase shareholder value, IVI will grant e-Smart® Technologies, Inc.,
the right to be the exclusive provider of its Biometric Verification Security
System (BVS2), the Super Smart Card and related technologies
for Africa. The terms of the license agreement will be disclosed in the
Company's next filing with the Securities and Exchange Commission.
World Developments Corporation, WDC, is a privately-held U.S. group based
in Washington, D.C. providing services that span various sectors, including
development of fully-integrated construction and civil engineering projects
worldwide; installation and implementation of large-scale corporate IT
networks; internet technology and corporate communications solutions,
and the creation and maintenance of healthcare informatics solutions for
both public health systems and the private healthcare sector.
e-Smart® Technologies, Inc., is the exclusive supplier for Asia and the
US of the Biometric Verification Security System (BVS2), and the
Super Smart Card and related technologies, which e-Smart® believes
to be the world's first smartcard of its kind with a sensor and full on-card
system for biometric ID verification together with other unique technologies.
These new generation technologies permit governments, public and private
institutions, healthcare providers and insurers, companies large and small,
their citizens and customers, respectively, to stop ID and payment fraud,
including identity theft, in connection with both physical and logical
access and with financial and other data related transactions all without
compromising a person's right to privacy."
SAFE HARBOR STATEMENT
Statements in this news release that relate to future plans, financial
results or projections, events or performance are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended. While
these statements are made to convey to the public the Company's progress,
business opportunities and growth prospects, readers are cautioned that
such forward-looking statements represent the management's opinion. While
management believes such representations to be true and accurate based
on information available to the Company at this time, actual results may
differ materially from those described.
For more information about e-Smart® Technologies, please visit
http://www.e-Smart®.com
or contact Media Relations at 703-768-7477 or media@e-smart.com
SOURCE e-Smart® Technologies, Inc.
© 2007 PR Newswire. All rights reserved.
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