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FOR
IMMEDIATE RELEASE:
WHERIFY WIRELESS AND U.S. CURRENCY PROTECTION CORP.
ANNOUNCE USE OF MINIATURIZED LOCATION TECHNOLOGY
FOR CURRENCY PROTECTION
New currency tracking pack uses Wherify's patented wireless location technology to assist in quick recovery of cash stolen from banks
Redwood Shores, CA - September 10, 2001 - Wherify Wireless, Inc., developers of nationwide wireless location-based technologies and services, and USCPC, LLC, through its affiliated business unit U.S. Currency Protection Corp. (USCPC), Global Pursuit Systems LLC, announce the introduction of a new currency tracking pack. The tracking pack, to be marketed and distributed by Global Pursuit Systems, uses Wherify's patented location service technology that converges Global Positioning System (GPS) and wireless technology into a miniaturized locator for rapid recovery of stolen cash and the apprehension of bank robbers. For an additional measure of protection, the tracking pack also incorporates RF beacon technology.
"Wherify Wireless is excited to work with USCPC, the leader in industrial security, to deliver a product that will contribute to the quick recovery of a bank's cash and the arrest of the robber," said Timothy Neher, chairman and president of Wherify Wireless. "The currency tracking pack is a natural progression of our end-to-end location-based service technology into other vertical markets."
Neher added that Wherify will be launching their initial product later this year, the GPS Personal Locator for children, which enables parents to identify the location of their children 24 hours a day, seven days a week.
"As the company to first introduce the tear gas dye pack more than 40 years ago, we were looking for another technological innovation and strategy for the quick recovery of stolen cash from banks, combined with an additional feature to help get bank robbers off the streets," said Phillip Grimm, co-CEO of USCPC. "We found that innovative technology at Wherify Wireless and look forward to working with them to bring additional quick recovery products focused on protecting and recovering valuable assets for banking and other financial institutions."
Grimm added that USCPC's currency tracking pack, developed in cooperation and exclusive partnership with Wherify Wireless, will provide financial institutions with the most unique solution available today for quick recovery of stolen cash.
The patent-pending currency tracking pack capitalizes on the technology advancements made in Wherify's miniaturization of GPS and mobile communications, along with U.S. Currency Protection Corp.'s RF beacon technology. Through the convergence of these three technologies, financial institutions will have the capability to rapidly identify the location of an unsuspecting bank robber, and the stolen cash, through local law enforcement authorities dispatched via Wherify's Location Service Center. The currency tracking packs will be able to communicate their location information over the nationwide network that covers approximately 90 percent of the U.S. population (4,000 cities and metro areas).
Initial shipments of currency packs using this new technology are expected in limited quantities in the first quarter of 2002, with a more extensive rollout expected in the second quarter of 2002.
In addition to the GPS Personal Locator and the currency tracking pack, Neher said that Wherify is developing a wide-range of carrier-agnostic, end-to-end location-based products designed for the personal safety, m-commerce, personal electronics, handsets, criminal justice, fleet management, asset tracking, and pet care markets.
About Wherify Wireless
Wherify Wireless, Inc. is a privately-held developer of
patented wireless location devices and services for child
safety, parental supervision, personal protection, Alzheimer
and memory loss supervision, law enforcement, animal
identification and property asset tracking. The company’s
proprietary integration of global positioning systems and
wireless telecommunication technologies will enable customers
to obtain real-time location information for individuals and
property directly through the Internet or any phone. Wherify’s
technology partners include LSI Logic, SiRF, and Baldwin
Hackett & Meeks, Inc. Founded in March 1998, Wherify
Wireless is located in Redwood Shores, Calif. For more
information visit the company’s Web site at http://www.wherifywireless.com.
About USCPC
USCPC, located in Scottsdale, AZ has been a leading provider of pro-active security products, particularly tear gas dye packs, worldwide since 1961. Products using the miniaturized tracking and location technology will be marketed and distributed through its affiliate company, Global Pursuit Systems LLC.
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