Re Agreement
ADVANCED SMARTCARD TECHNOLOGIES PLC
SIGNIFICANT NEW MARKET CHANNEL
14 February 2007
Advanced Smartcard Technologies plc (RIC: SMRT/L, the "Company"), the Scottish
based software group specialising in smartcard technology, through its wholly
owned subsidiary Ecebs Ltd. ("Ecebs"), is delighted to announce that it has
reached an agreement with Hitachi Ltd. ("Hitachi") for the use of the Company's
core smartcard technology.
Under the agreement, Hitachi, one of the world's largest suppliers of secure
smartcards for banking and other applications, has taken a licence to
incorporate the Company's MultefileTM technology into their chips that are
loaded with the MULTOS high security operating system.
This will be an added benefit to Hitachi's customers, as the addition of
MultefileTM will greatly increase the utility of the Hitachi smartcard chip as
far as application flexibility is concerned.
David Braddock, Chief Executive of Advanced Smartcard Technologies commented:
"We are most pleased and excited to have this co-operation with a global player
of such standing. This is akin to putting MultefileTM on the shelves of a
worldwide retail chain.
This arrangement represents another strategic step in developing our channels to
market. It creates a channel where users of Hitachi cards can easily procure
and deploy Ecebs' core product, Multefile, thus gaining all the benefits of
enhanced security and flexibility and consequently protecting their investment."
Peter Jones, Business Manager of Systems Solutions Division, Hitachi Europe Ltd.
stated: "We see the inclusion of Multefile in our secure MULTOS package
smartcard offerings as a differentiator in winning new business in many
different markets such as banking, retail, security and public sector. We are
delighted to have an association with Ecebs and have access to their excellent
technology."
-ends-
For further information contact:
Advanced Smartcard Technologies plc 01355 813430
David Braddock, Managing Director
Stephen Naylor, Finance Director
SVS Securities plc 020 7638 5600
Ian Callaway
Peter Manfield
ARM Corporate Finance Limited 020 7512 0191
Nick Harriss
NOTES TO EDITORS
About Advanced Smartcard Technologies plc
Advanced Smartcard Technologies plc, through its wholly owned subsidiary Ecebs
Limited, is a profit making, software company operating in the dynamic and
expanding smartcard arena. SMRT listed on AIM in December 2005. The Company
provides smartcard technology to a wide range of user markets including
transport, ID, healthcare, finance and local and national government departments
and blue-chip companies.
Additional Information
Multefile™ enables smartcard issuers to add, delete, amend or modify
applications even after the smartcard has been delivered to the user. This means
that smartcards issued for any initial purpose on a mass basis can be
individually reprogrammed after issue to tailor its needs to the person using
the card. In this way niche requirements can be provided by Multefile™
smartcards where previously they may have been economically unviable with
traditional smartcard technology.
Moreover, Multefile™ can be managed and operated by individuals without detailed
smartcard programming expertise. Multefile™ licence holders are able to
simultaneously update the front office components of their smartcard system -
smartcards, and terminals and so are in direct control of their own smartcard
schemes.
MULTOS is the world's highest security, open standard smartcard platform. It
allows card issuers and application providers to share space on a single chip
platform. A range of applications ranging from payment, authentication, digital
identity, biometrics, loyalty, and contactless ticketing may securely reside on
a MULTOS powered chip. More than 50 million MULTOS smartcards have been issued
in more than 30 countries, in projects ranging from banking, national identity,
campus security, secure ID and transit.
About Hitachi Ltd
Hitachi Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a
leading global electronics company with approximately 356,000 employees
worldwide. Fiscal 2005 (ended March 31, 2006) consolidated sales totalled 9,464
billion yen ($80.9 billion). The company offers a wide range of systems,
products and services in market sectors including information systems,
electronic devices, power and industrial systems, consumer products, materials
and financial services. For more information on Hitachi, visit
http://www.hitachi.com.
About Hitachi Europe Ltd
Hitachi Europe Ltd., is a wholly owned subsidiary of Hitachi, Ltd., Japan.
Headquartered in Maidenhead, UK, it has operations in 15 countries and employs
500 people across Europe, the Middle East and Africa. As a 'Best Solutions
Partner' Hitachi Europe tailors its services and solutions to meet the specific
needs of its customers. Hitachi Europe comprises ten key business areas: power
and industrial systems; rail; industrial components & equipment; information
systems; digital media; display products; air-conditioning and refrigeration
systems; procurement and sourcing; corporate technology group (research &
development) and the Hitachi Design Centre. For more information about Hitachi
Europe Ltd., visit http://www.hitachi-eu.com.