CNW Group | BIOSCRYPT INC. | Bioscrypt Provides Update on Plan of Arrangement

CNW Group | BIOSCRYPT INC. | Bioscrypt Provides Update on Plan of Arrangement

Bioscrypt Provides Update on Plan of Arrangement

    Securityholders' meeting anticipated for February 29, 2008

  TORONTO, Jan. 29 /CNW/ - Bioscrypt Inc. (TSX: BYT), a leading provider of
identity and access management solutions, today announced February 29, 2008 as
the anticipated date for the securityholders' special meeting called to
approve the plan of arrangement pursuant to which L-1 Identity Solutions, Inc.
will acquire all of the issued and outstanding shares of the Company.
  "The Bioscrypt acquisition is proceeding on schedule and we anticipate
its close in the first quarter of 2008," said Robert V. LaPenta, Chairman,
President and CEO of L-1 Identity Solutions. "As the global leader in
enterprise logical and physical access control software and hardware,
Bioscrypt is an important component of the L-1 strategy and adds the necessary
physical and logical biometric access control needed to better protect and
secure personal identities and assets."
  "Bioscrypt is very pleased to be advancing on closing the transaction
with L-1 Identity Solutions as announced earlier this month," said Robert M.
Douglas, President and CEO of Bioscrypt. "The execution of our 2008
operational plans focusing on delivering value to our customers and partners
continues."

  About Bioscrypt Inc.

  Bioscrypt is an enterprise access control solution provider, enabling the
unification of physical and logical access with its Door to Desktop(R)
products. Bioscrypt's hardware and software solutions deliver strong
authentication processes to facilities, equipment, IT networks and computer
applications and allow organizations to administer unified identities across
the enterprise.
  Building on its proven expertise in biometric technology and its unique
multi-factor authentication platform, Bioscrypt integrates all major secure
authentication standards, transforming how organizations are bridging the gap
between physical and logical access to create secure working environments.
More information is available at www.bioscrypt.com.

  About L-1 Identity Solutions Inc.

  L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of
companies, offers a comprehensive set of products and solutions for protecting
and securing personal identities and assets. Leveraging the industry's most
advanced multi-modal biometric platform for finger, face and iris recognition,
our solutions provide a circle of trust around all aspects of an identity and
the credentials assigned to it -- including proofing, enrollment, issuance and
usage. With the trust and confidence in individual identities provided by L-1
Identity Solutions, government entities, law enforcement and border management
agencies, and commercial enterprises can better guard the public against
global terrorism, crime and identity theft fostered by fraudulent identity.
L-1 Identity Solutions is headquartered in Stamford, CT. For more information,
visit www.L1ID.com.

  Forward-looking (safe harbour) statement