E-Smart Technologies (fka ESTT)

[ahumblefool]

e-Smart Technologies Enters Agreements to Provide Biometric System for Payment Processing in Indonesia
12/17/2004 7:00:00 AM

Las Vegas, Dec 17, 2004 /PRNewswire-FirstCall via COMTEX/ -- e-Smart Technologies, Inc. (OTC Pink Sheets: ESMT), a leader in biometric smartcard technology, announced today that it has entered into a Cooperation Agreement and an Agreement to Form Joint Venture with PT Primrose Gantari Indonesia. Under the agreements, e-Smart will work with Primrose to provide e-Smart's proprietary biometric systems for payment processing services in banking institutions and other corporate and government entities in Indonesia.

PT Primrose Indonesia was created by former principals of The Indonesian Bank Restructuring Agency (IBRA) and is one of the most respected and experienced financial services organizations in Indonesia. Primrose has successfully restructured and divested banks, companies, properties and assets for the Indonesian Government, focusing on government institutions and the banking sector

In commenting on the Agreement, e-Smart President and CEO, Mary Grace, said, "We are pleased and proud to team with PT Primrose to bring our secure biometric payment system to the people of Indonesia. This partnership is the first step toward providing banks and citizens in Indonesia the ultimate security in day-to-day financial transactions -- an ever-increasing concern in virtually every country in the world."

e-Smart is the exclusive supplier for Asia and the US of the Biometric Verification Security System(TM) ("BVS2(TM)"), featuring the Super Smartcard(TM), which e-Smart believes to be the world's only commercially available smartcard with a full on-card system for biometric ID verification. These new generation technologies permit governments, public and private institutions, healthcare providers and insurers, companies large and small, their citizens and customers, respectively, to stop ID and payment fraud, including identity theft, in connection with both physical and logical access and with financial and other data related transactions all without compromising a person's right to privacy.

SAFE HARBOR STATEMENT

Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. While management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described.

For more information about e-Smart Technologies, please visit http://www.e-smarttechnologies.com.