MagTek and Sig-Tec Corporation announce Enterprise Level Two Factor Strong Authentication

Sig-Tec’s Strong Authentication Software along with MagTek’s MagnePrint Technology creates a versatile, reliable, two factor authentication secure access identity management solution for enterprises of all sizes

San Diego, CA – September 26, 2006 – MagTek®, Inc. and Sig-Tec Corporation announce a combination of proven hardware and software products to provide an unmatched two factor authentication solution to the marketplace.

The Sig-Tec Enterprise Level Strong Authentication Software solutions coupled with MagTek’s MagnePrint® Enabled Encrypting Magnetic Stripe Reader (MSR) enable companies to authenticate secure user access to both the enterprise’s network and all applications within that network, while creating the most advanced issuance, managing and revoking authentication.

“Implementation of Sig-Tec’s Enterprise Level Strong Authentication Software solution will make corporate security departments faster, stronger and more efficient while adding cost savings to the bottom line,” said John McGuire, Regional Sales Manager, Sig-Tec Corporation. “With this solution, implementing corporate wide two factor authentication for the network or implementing a convergence solution addressing both logical and physical security will be fast and inexpensive.” adds McGuire.

“By integrating our MagnePrint Enabled Encrypting Magstripe Reader into Sig-Tec’s authentication software application, the Sig-Tec solution makes required compliance issues such as HIPAA, GLB and the Sarbanes-Oxley Act (SOX) easy to attain,” says Kiran Gandhi, Vice President, Business Development, MagTek, Inc. “The Sig-Tec solution works with a wide variety of applications and systems throughout the healthcare, government and financial marketplaces, and MagTek is delighted to be the hardware provider for the Sig-Tec solution,” continues Gandhi.

Sig-Tec’s Enterprise Level Convergence Software solution will improve any company’s efficiency, strategy, time management, identity management and communication. It provides an end to end access security software solution that aligns the four major functional security groups within the traditional business organization – information security, physical security, compliance and privacy.

MagnePrint is a card authentication technology that allows any magnetic stripe card to be recognized as a unique and non-reproducible security token. MagnePrint addresses the risks of online banking “Phishing” as well as “Skimming” at the point of sale by offering strong two factor authentication using existing ATM, Debit, Credit and Gift Cards. MagnePrint® received the 2006 Technology Innovation Award from the Electronic Transactions Association (ETA) in recognition of MagTek’s achievement and leadership in the payment industry.

About MagTek
Since 1972, MagTek has been a world leader in electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems. The company's products and components are in use today at point-of-sale (POS) and back-office locations in thousands of companies around the world; incorporated into kiosks and ATMs, banking customer service terminals, custom retail POS terminals, and restaurant and hospitality equipment. MagTek is based in Carson, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries.

About Sig-Tec Corporation
Sig-Tec is an emerging leader of security access solutions with numerous patents pending. It is a respected developer of security software featuring strong authentication, true-multifactor authentication, password generation, and auto-synchronization. Sig-Tec’s technology is integrated with over thirty of the latest authentication devices and technologies to create the most flexible and reliable source for each client’s specific security needs. Sig-Tec’s proprietary software supports all forms of biometrics, tokens, magnetic stripe cards, and all other card technologies. Sig-Tec adds the Enterprise Level Convergence Software solution to its current security products that address Logical Access Security, Print Security and Remote Desktop Access Security. Sig-Tec has designed its products to aid in compliance with regulatory security requirements such as HIPAA, Gramm-Leach-Bliley, U.S. PATRIOT Act, and Sarbanes-Oxley.

Sig-Tec products are distributed through a dedicated sales team, as well as a network of value added resellers, system integrators, OEMs, and valued partners. For additional information about any of its offerings or to schedule a Webcast, please call John McGuire at jmcguire@sig-tec.com or 952-294-3055.