e-Smart, Samsung and Kobile Enter into Korean Student ID Project

e-Smart Technologies, Samsung SDS and Korean Kobile, have entered into a "Student Management Card Project, Cooperation Agreement." Samsung SDS has projected that this Cooperation Agreement has a total revenue potential during its first six years of operation alone (through 2011) of in excess of the equivalent of US$ 617,000,000 based on todays exchange rates. The Project is structured as an outsourcing of IT equipment and services to the educational institutions involved. e-Smart shall be the service provider. The first of a number of planned domestic Korean and international projects that e-Smart Korea and Samsung SDS have agreed to cooperate in doing, the "Student Management Card Project" calls for the installation and operation of the Companys proprietary Biometric Verification Security System ("BVS2") operating platform and the issuance of the Companys, advanced Super Smart Card(TM) to students, faculty and employees of participating learning institutions throughout Korea. Specifically, the Student Management Card Project, operating on the BVS2 platform will connect mid-level schools, high schools and colleges nationwide. Each student, faculty member and school employee will be issued an e-Smart Super Smart Card that will serve as their student ID or employee ID, as applicable and that will also serve as both a physical and logical access card, an attendance card, a medical card, a tuition payment and services card as well as an ATM card, a pre-paid purse and or a debit card, among other planned applications. In addition, the Student Management Card Project includes components for parents to monitor the progress of their children and to insure the appropriate use of school allowances, among other things. e-Smart is the exclusive supplier for Asia and the USA of the BVS2 secure, operating platform featuring the Super Smart Card, believed to be the worlds only commercially available smartcard with a complete on-card system for biometric ID verification. Samsung SDS is the leading global IT solutions provider in Korea with an annual revenue of in excess of US $1.43 billion. Kobile is the operator of a loyalty marketing system in Korea, having a nationwide sales network there that is used to attract and retain domestic customers in Korea for the benefit of itself and its clients.