27 June 2006

Biometric Security Limited closes £3m ($5.5m) investment round as VoiceVault expands

Market leader in biometric voice verification embarks on expansion drive

London, UK - 27 June 2006 - Biometric Security Limited, a leader in the provision of voice based biometric identity verification solutions, announced that it has secured £3 million ($5.5 million) investment capital from Eden Ventures LLP and The Chiimu Partnership LLP.

This investment enables Biometric Security Limited (an ISO 17799 accredited company) to accelerate commercial deployment of its VoiceVault voice verification system into rapidly growing markets in the UK and internationally. The company, which released Version 5.0 of VoiceVault in February of this year, continues to build on its established customer base of organisations ranging from banks and insurers to government agencies in both Europe and the USA.

"VoiceVault is the most exciting product in the area of voice verification." said Mark Farmer, Partner, Eden Ventures LLP. "It is gaining significant attention in front of some of the world's largest financial services companies and governments as they see the clear advantages of its cost effective yet trusted and secure applications. By using the uniqueness of a person's voice, VoiceVault has simplified identity management and security."

Paul Lindsay, Chairman of Biometric Security, said the company would now embark on an expansion drive, with further planned investments in product development, sales and marketing. "Businesses across many different industries are struggling to reconcile the need to improve security, address identity theft and fraud whilst at the same time improve levels of customer service. Burdening customers with more passwords, PINS or 'memorable information' just does not work. VoiceVault solves both problems. It's more secure and it delivers a better quality of service. With Voice over IP now a reality and the call centre a routine part of every day life, companies that invest in voice verification will see considerable gains in the years ahead."

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Founded in 2005 and with offices in the UK, Ireland and the US, Biometric Security's VoiceVault product suite provides an efficient, highly secure and practical means by which an individual's identify can be verified on the phone or via the Web.

VoiceVault™ is the only voice verification platform to be both certified and accredited to issue Advanced Electronic Signatures (voice digital certificates) and ISO 17799 accredited.

VoiceVault uses spoken words to calculate measurements of an individual's vocal tract. Sophisticated algorithms then convert these measurements into a voiceprint - a unique digital representation of an individual's voice. A voiceprint is not a recording or a 'wave pattern' and cannot therefore be played back or used for any purpose other than comparison with other voiceprints.

Over 100 different calculations and tests are used to compare a previously enrolled voiceprint with a further voiceprint generated at the time of verification. Special filters and algorithms are used to eliminate background noise as well as to detect and reject any attempt to use voice recordings. Because verification is based on vocal physiology, accuracy is not affect by the caller having a minor ailment, such as a cold. VoiceVault also adapts voiceprints over time to take into account the ageing effects on the voice.

For more information, visit www.voicevault.com

The Eden Ventures' team consists of successful entrepreneurs complemented by investment professionals. Their blend of knowledge and experience covers strategic sales and marketing skills, finance & operations skills, M & A transaction and institutional fund management skills.

For more information, visit www.edenventures.co.uk

The Chiimu Partnership provide funding and strategic advice to post revenue early stage businesses and has been an investor in Biometric Security since its creation in 2005.

For more information, visit www.chiimu.com

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