BIOMETRIC SECURITY LTD SECURES FURTHER FUNDING FOR VOICEVAULT

Kevin Lomax appointed CEO

As a result of his further investment, Kevin Lomax, the founder and former CEO and Executive Chairman of Misys, one of the world's largest and longest established software development companies, will take on an executive role at VoiceVault becoming CEO as Martyn Eley stands down. Jim Cook, who as Chief Technology Officer has led the VoiceVault engineering team, becomes the Company's Chief Operating Officer.

The latest round of fundraising will be used for working capital to further develop VoiceVault's position as the world's most flexible, accurate and reliable biometric voice verification system. In particular, the funds will allow the Company to strengthen its UK engineering team to better support its research activities in San Diego, and to enable a more aggressive partner programme in Europe and the US. VoiceVault's current partners include Datapoint and Atos Origin.

Commenting, Kevin Lomax said: "The appetite for VoiceVault's services is growing exponentially, and we are in late stage negotiations with several large UK and US retail banks as well as major healthcare players and other blue chips in the US about providing our core services including caller authentication, password reset and voice signatures.

"The rapid growth in popularity of using phone and web based services has resulted in people being expected to remember an increasing number of PINS and passwords - none of which offer particularly strong protection against the growing threat of identity theft and fraud. By calculating the vocal measurements of an individual's vocal tract, VoiceVault's sophisticated systems convert these measurements into a voice print - a unique digital representation of an individual's voice that cannot be forged.".

About VoiceVault

VoiceVault is a specialist and leader in the provision of voice-based biometric identity verification solutions and services. With operations in the United States, United Kingdom and Ireland, the Company has a global customer base of public and private organisations, such as government agencies, banks and insurers.

VoiceVault is the only voice verification service certified and accredited to issue Advanced Electronic Signatures (voice digital certificates) and to be ISO 27001 rated.

VoiceVault provides a more convenient, practical and secure alternative to PINs, passwords or security tokens. As well as verifying an individual's identity over the phone or the Internet, VoiceVault can be employed across a diverse range of business applications, including procurement, payment authorisation and corporate security. Organisations that deploy VoiceVault can deliver enhanced levels of service to their customers, increase security while optimising identity verification costs.

VoiceVault delivers its services either by a hosted service or as licensed software delivered pre-installed on servers.

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