In a letter to the company today, the United States Postal Service indicated that a Request for Information (RFI) for Time and Date Stamp Technology and Management issued by the USPS today is designed to identify additional companies that may be interested in, and potentially capable of, providing the USPS EPM service. This exercise would enable the USPS to explore alternative business models for the EPM service, with a view to promoting wider adoption of the service across multiple business segments. Authentidate has operated the USPS EPM service on behalf of the USPS since March 2003, under a strategic alliance agreement that expires in July 2007, and currently is the only provider designated by the USPS to offer the EPM service. In its letter, the USPS also encouraged Authentidate to participate in the RFI, noting its role as a valued partner with the knowledge and experience to help grow the market for the USPS EPM.
Authentidate firmly believes in the emergence of a significant future market for applications that include the use of the EPM. Adoption by the USPS of a market model that supports multiple EPM service providers can only create greater awareness of the value of the EPM, promote the development of the market for new products and services incorporating the EPM, provide for heightened brand awareness of the EPM, and act as a catalyst for growing the addressable market for products and services that incorporate the EPM.
"As the preferred provider of the USPS EPM service for approximately four and a half years, we have fostered the emergence of this technology. The strategic transformation of our business over the past two years, with a focus on applications, is turning us into one of the largest customers for the USPS EPM service," stated Suren Pai, Chief Executive Officer of Authentidate. "We are excited about the USPS' pro-active approach to consider ways to expand awareness of the EPM service as this can only help accelerate the development of markets that we would like to address. We believe that a multiple provider model for the USPS EPM is the most viable strategy for supporting what we see as the future growth of this technology. We plan to participate in the RFI process, and we would be delighted to continue our role as a provider of the USPS EPM service under terms and conditions that are right for the company."
About the United States Postal Service(R) Electronic Postmark(TM)
The USPS Electronic Postmark (EPM) is a web based security service that enables users to verify authenticity, provide tamper detection, and date and timestamp electronic documents and files. Evidence of content authenticity is stored in the USPS EPM repository for seven years to ensure trusted non- repudiation of content.
About Authentidate Holding Corp.
Authentidate Holding Corp. is a worldwide provider of secure enterprise workflow management solutions that incorporate its proprietary and patent pending content authentication technology in the form of the USPS Electronic Postmark(TM) (EPM) and electronic signing solutions. Authentidate also provides secure document management solutions, and enterprise network security products and services.
The company operates its software and services businesses in three segments: the Security Software Solutions segment (including Authentidate, Inc., Trac Medical Solutions, Inc. and Authentidate International AG), the Document Management Solutions segment (Docstar Division) and the Systems Integration segment (DJS). For more information, visit the company's website at http://www.Authentidate.com.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
This document is available on the KCSA Worldwide Website at http://www.kcsa.com.
For: Authentidate Holding Corp.
Investor Contacts: Media Contacts:
Todd Fromer / Garth Russell Shelley Pfaendler
KCSA Worldwide KCSA Worldwide
212-896-1215 / 212-896-1250 212-896-1248
tfromer@kcsa.com / grussell@kcsa.com spfaendler@kcsa.com
