November 21, 2002

Ellen Qualls
(804) 786-2211, x2379

Yoram Curiel
SafeCard ID Inc.
(757) 636-5454
Jill Lawrence
(804) 371-0049
Safecard ID Locates Headquarters In Virginia Beach
-Governor Warner announces company will create 55 new jobs-

RICHMOND - Governor Mark R. Warner today announced that SafeCard ID Inc., a manufacturer of secure photo ID cards, will invest $10 million in the City of Virginia Beach and formally establish its headquarters there. The investment allows the company to create 55 new jobs at its International Parkway facility. Virginia successfully competed with Colorado, Maryland, New York, the United Kingdom and Israel for the project.

“Today I welcome SafeCard ID to Virginia Beach and the Commonwealth,” said Governor Warner. “This economic development win resulted from great cooperation between the city, state and region. SafeCard ID is applying new technology to make official documents and ID cards even more difficult to counterfeit, and their decision to locate this headquarters in Hampton Roads confirms that Virginia is indeed on the cutting edge of the homeland security industry.”

SafeCard ID Inc., originated as an R&D entity in Israel. Its management team has a rich history of finding advanced solutions to acute security problems in Europe and the United States. Through the use of technology, SafeCard’s experience includes production line automation and robotics, computer hardware, software, machine design engineering, creation of high security inks, and implementation of holographic solutions. SafeCard’s new technology offers optimal protection from copying, duplication and alteration. Hiring for the facility has begun, and will continue throughout 2003.

“Virginia is the perfect location for SafeCard,” said Yoram Curiel, SafeCard ID Inc. CEO and founder. “First, the area offers one of the best workforces we’ve ever seen. The military presence and ex-military pool of workers serve as invaluable labor sources. Second, the region has a cost structure that compares favorably with every location we’ve examined. Third, the city, region and state have a solid pro-business environment. Lastly, SafeCard will benefit from the proximity and connections to the federal government.”

The Virginia Economic Development Partnership, the Virginia Israel Advisory Board, the Hampton Roads Economic Development Alliance and the City of Virginia Beach assisted SafeCard ID Inc. with its decision. The Virginia Department of Business Assistance will provide workforce training services.

"We are delighted that SafeCard has decided to expand its operations in Oceana West Corporate Park and continue to grow with our city," said Virginia Beach Mayor Meyera E. Oberndorf. "SafeCard is precisely the type of clean, technology-driven corporation we seek for our community, and we're pleased that we can offer an environment where they can thrive."


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