April 16, 2007
P.T. Sekur Grafika launches effort with initial Payments Against Orders
ROCHESTER, NY, April 16, 2007 – Document Security Systems, Inc. (AMEX: DMC) (“DSS”), a leader in proven, patented optical deterrent technologies and products that protect against counterfeiting and brand fraud due to unauthorized copying, scanning and photo imaging, today announced that it has expanded its agreement with Indonesian-based P.T. Sekur Grafika (SG) to market its products throughout Malaysia, Singapore, and Indonesia. The Company announced its initial agreement with SG in November 2006.
The three-year agreement includes a minimum purchase of $500,000 per year, and will be initiated with a $500,000 advance against orders to be paid in the second and third quarters of 2007.
With ever-increasing needs for document security and brand protection in this region, SG will promote and market DSS’ products throughout Malaysia, Singapore, and Indonesia focusing on government issued identification such as passports and visas, as well as manufacturers particularly in the auto and aerospace industries, while also targeting financial institutions.
In addition, through human resources expansion and other investment alternatives, SG’s direct sales staff will also focus on catering to many family-owned business entities belonging to Senior Partners of publicly-traded PT. Astra International Tbk. – Indonesia’s largest and most professionally managed conglomerate.
Feasibility studies are currently undertaken by SG into the establishment of a security printing facility within this region to better cater its customers both in terms of competitive pricing as well as premier customer service.
Peter Ettinger, President of DSS, commented, “Our partnership with SG is key to Document Securities Systems growth in the region. This is a relationship that truly represents an important step in expanding the applications and use of DSS technology globally. SG is a perfect compliment to our BTI partnership, as it allows us to establish a DSS presence and build revenue opportunities throughout Asia.
SG and DSS are developing a comprehensive sales and marketing program that will include a web-based and direct marketing initiative aimed at maximizing the effectiveness of the relationship and driving revenue. As a part of the agreement, DSS received an initial order from SG for both secure paper and ID cards.
Mr. Danny Rachmat, President of SG noted, “Our family and group of companies have a long history of doing business within Southeast Asia and throughout the world. We know first hand the importance of the need for document security and brand protection for businesses and government. And as their partners, we believe that we can address many of the security problems in the region and this is why we have expanded our agreement. As we close deals and grow sales, we could expand the geographic boundaries of our agreement yet again.”
About Document Security Systems, Inc.
A rapidly growing security technology company, Document Security Systems, Inc. (AMEX: DMC) is a leader in proven patented protection against counterfeiting and unauthorized copying, scanning and photo imaging of critical documents forms, identification and packaging. The company offers a broad portfolio of anti-counterfeiting technologies, systems and products, and provides consulting for customized document security printing solutions. Its various anti-scanning technologies and products are used in a number of applications, but not limited to currency, vital records, brand protection, labels, tickets, ID Cards, passports and gift certificates. Document Security Systems strategy is to become the world’s leading producer of cutting-edge security technologies for printed products. More information about Document Security Systems can be found at its websites: www.documentsecurity.com and www.plasticprintingprofessionals.com.
About P.T. Sekur Grafika
P.T. Sekur Grafika specializes in providing customized security printing solutions for a broad variety of applications to include government documents, vital records, identification cards and badges, as well as product packaging. Its customers represent a diverse group of businesses as well as the national government of the Republic of Indonesia.
Safe Harbor Statement
This release contains forward-looking statements regarding expectations for future financial performance, which involve uncertainty and risk. It is possible the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
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