LaserCard Corporation Receives $2.9 Million Follow-on Order for the Kingdom of Saudi Arabia National ID Card Program

LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, today announced a follow-on purchase order valued at $2.9 million to supply secure identity cards for the Kingdom of Saudi Arabia's national ID program. This brings the total orders received for this program to $4.7 million since April 1.

The $2.9 million order calls for the continued supply of optical smart cards to be issued via approximately 40 issuance offices in cities throughout Saudi Arabia. Deliveries are expected to be completed in the September quarter.

Previous announcements regarding this program had referred to the customer as "a Middle Eastern nation." Since the inception of the Saudi National ID Card project in 2003 through March 2008, LaserCard has supplied approximately $16 million of cards, software, hardware and services for the program.

"We are pleased to see the continuing development of the Saudi National ID program and are proud that our optical memory technology, whose digital security has never been compromised, is making a contribution to the nation's security," said Bernard C. Bailey, chairman of LaserCard's board of directors. "We look forward to continuing our close relationship with the Saudi government and our local business partners in ensuring the further consolidation of this vital homeland security project."

LaserCard has defined the Middle Eastern region as an area of strategic focus for the growth of its secure ID solutions business. The company recently expanded its business activities in Saudi Arabia through its German subsidiary, Challenge Card Design GmbH, which signed a previously announced $8.4 million contract with the Golden Chip Company late last year to deliver a turnkey card manufacturing facility.

About LaserCard Corporation

LaserCard Corporation is a leading provider of secure ID solutions to governments and commercial clients around the world, and also manufactures a wide range of advanced, secure identity documents. These ID documents include the LaserCard(R) optical memory card and hybrid cards combining optical memory with contact, contactless and RFID chip technology. The Company's cards and systems are widely used in countries around the world, including the United States, Canada, Italy, India and Saudi Arabia, for demanding applications including border security, government service provision and facility access. LaserCard's wholly-owned German subsidiary, Challenge Card Design Plastikkarten GmbH, manufactures and offers a wide range of high quality specialty cards, plus card personalization and ID management solutions under the CCD and Cards & More brands.

Forward-Looking Statements

All statements contained in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as may, will, intends, plans, believes, anticipates, visualizes, expects, and estimates. Examples of forward-looking statements in this release are the expectation that our shipments under the $2.9 million order will be completed by the end of the September quarter and our strategic focus for the growth of secure ID solutions business in the Middle East. This and other forward-looking statements in this press release are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to whether the Saudi government attempts to delay or cancel deliveries under the current order; whether political forces put a hold on the Saudi national ID card program, whether we encounter difficulties in making the cards or the cards have quality or other issues which cause a delay in their acceptance, and there being demand in the Middle East region for secure ID solutions which we are able to fulfill as well as the risk factors detailed in the Company's Form 8-K, 10-K, and 10-Q filings with the Securities and Exchange Commission. Due to these and other risks, future actual results could differ materially from the Company's expectations. These forward-looking statements speak only as to the date of this release, and, except as required by law, the Company undertakes no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.

SOURCE: LaserCard Corporation

LaserCard Corporation
Steven G. Larson, 650-969-4428
VP-Finance
or
Edelman
Lisa Hanna, 202-326-1734
Lisa.hanna@edelman.com