posted                      

High-Tech Writers / Business Editors NEW YORK--(BUSINESS WIRE)--SDGL-- Secured Digital Applications, Inc. (OTCBB:SDGL) announced today that it was awarded its first contract, valued at $921,000, by SNC Associates to develop, implement and maintain a secure business-to-consumer e-commerce portal using the Company's biometric security technology. Completion and implementation of the portal is scheduled for December 2004. This contract will be developed and completed in parallel with the previously announced field trial of an online biometric payment portal. The e-commerce portal will allow only registered members to use the portal for online purchases and payments. Members will register by providing details of the identity, credit card information and biometric information. After registration when a member desires to make an online purchase, their identity will be verified and credit card information validated. This system will significantly reduce the risk of fraud and identity theft in online e-commerce transactions. In addition to the contract fee of $921,000, the Company will generate annual recurring revenue by receiving a transaction fee for each completed online transaction and from a five-year contract to provide software and hardware upgrades plus system maintenance. The Company's biometric security technology is based on both fingerprint and face recognition. Fingerprint recognition is based on Minutiae Extraction Analysis to compare "real-time" fingerprints with those stored in a database by evaluating 72 independent minutiae points. The error rate for this fingerprint technology is 1 in 30,000. Face recognition uses the Eigenfaces Mapping neural network technology that compares a real-time snapshot of an individual's face with a database of photos and works with either gender or any race. Photograph comparison is completed at a rate of 20,000 faces per second and has an error rate of 1 in 10,000. By using both the Company's fingerprint and face recognition technology, the error rate is reduced to 1 in 30 million. Mr. Patrick Lim, Chairman and Chief Executive Officer of Secured Digital Applications stated, "This contract further establishes Secured Digital in the secure e-commerce arena. Our biometric security technology provides speed and accuracy allowing our portal to serve multiple merchants with large customer bases. This provides our clients with the benefit of reducing the risk of fraud and identity theft while providing significant opportunities for the Company." SNC Associates is a private Malaysian company located in Kuala Lumpur, Malaysia. About Secured Digital Applications: Secured Digital Applications, Inc. (formerly known as Digital Broadband Networks, Inc.) and its subsidiaries are involved in the development, integration and provision of secured shipping and supply chain management service, sale of biometrics security systems and the development of Web based interactive multimedia content. The group is also involved in the sale of the EyStar SmartHome Console, broadband modems and IP cameras. For more information, please visit www.digitalapps.net and www.eystar.com. Safe Harbor Statement: Investors should carefully consider the preceding information, as well as other information contained herein before making an investment in the common stock of the Company. Information contained herein contains forward-looking statements and information that are based upon beliefs of, and information currently available to management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "is expected," "intends," "may," "will," "should," "anticipates," "plans" or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Digital Broadband Networks does not undertake to update, revise or correct any forward-looking statements. Morris Capital Markets Communications LLC provides investor relations and financial communications services to the Company. As such Morris Capital Markets Communications LLC and/or its officers receives only cash remuneration for its services in compliance with the National Investor Relations Institute Standard of Practice and SEC regulations. KEYWORD: NEW YORK INDUSTRY KEYWORD: TRANSPORTATION TELECOMMUNICATIONS SOFTWARE HARDWARE COMPUTERS/ELECTRONICS PRODUCT SOURCE: Secured Digital Applications, Inc. CONTACT INFORMATION: Secured Digital Applications, Inc. Valerie Looi, 011 (603) 7955 4582 valerie.looi@digitalapps.net or Morris Capital Markets Communications LLC Barry L. Morris, 212-687-9707 bmorris@morriscapmarkets.com

Posts: 290 | Registered: Dec 2003  |  IP: Logged |