MOUNTAIN VIEW, Calif., Aug. 21 /PRNewswire-FirstCall/ -- LaserCard Corporation today announced receipt of a $1.2 million purchase order, under a subcontract valued at approximately $11 million, for the LaserCard(R) optical memory-based national ID card project in a Middle Eastern country. This is the third of ten purchase orders expected under the subcontract, bringing the total value of orders received to over $4 million.

Richard Haddock, CEO of LaserCard Corporation, said today, "We are very encouraged by the continuing rollout of this significant program, and that our optical memory card's unparalleled security is successfully addressing some of the key challenges being faced in this area of the world."

The purchase order is to be fulfilled over a 60-day period and is for the supply of personalized secure national ID cards and the supply, installation and support of associated card personalization equipment and consumables. LaserCard continues in its project management role for management of the card personalization process, and the quality of the fully personalized cards, including the printing of cardholder information and encoding of data and the Embedded HologramHD. LaserCard will recognize revenue upon issuance of personalized cards, after the full card issuing infrastructure is in place, anticipated to be completed next quarter. Once this is complete, the customer will have the capability to issue cards from twenty sites throughout the country.

About LaserCard Corporation

LaserCard Corporation (http://www.lasercard.com/) manufactures and markets LaserCard(R) optical memory cards with IDLock(TM), chip-ready Optical/Smart(TM) cards and other advanced-technology secure identification cards. The Company has sold over 35 million secure ID cards to meet the demanding requirements for border security, immigration and national identification in countries around the world, including the United States, Canada, and Italy. In addition, the Company manufactures optical card read/write drives and develops optical card system software, card-related ID subsystems and peripherals. The Company operates a wholly owned German subsidiary, Challenge Card Design Plastikkarten GmbH, which manufactures advanced-technology cards and also markets cards, system solutions, and card personalization printers under the cards & more brand.

Forward Looking Statement Disclaimer

All statements contained in this news release that are not historical facts are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not 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, expects, plans, visualizes, believes, anticipates, and estimates. Forward-looking statements made in this release include our expectations that we will receive seven more purchase orders under our $11 million Middle Eastern subcontract, that the card issuing infrastructure will be in place by next quarter allowing the Company to recognize revenue cards are issued, that the materials to be supplied under this $1.2 million purchase order will be delivered in the next sixty days, and that the customer will ultimately have twenty card personalization sites in place when the card issuing infrastructure is in place. These forward-looking statements 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 we encounter unexpected difficulties in overseeing the personalization and issuance of cards for the Middle Eastern country program or the government deciding not to continue the program or have as many as twenty card personalization sites, and whether we encounter unexpected delays in setting up the card issuing infrastructure as well as other risk factors detailed in the Company's Form 8-K, 10-K, 10-Q, and other filings with the Securities and Exchange Commission. Due to these and other risks, the Company's future actual results could differ materially from those discussed above. 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.

CONTACT: Steven G. Larson, VP Finance of LaserCard Corporation,
+1-650-969-4428

Web site: http://www.lasercard.com/