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Cogent Systems Announces Contract with U.K. Post Office Limited
Monday, March 23, 2009 4:06 PM


Cogent Systems (Nasdaq: COGT) today announced that it has been awarded a contract to provide services to Post Office Limited in the United Kingdom. The initial contract is valued by the Company at £42 million pounds or approximately $60 million dollars over a five year period. The size of the initial award is potentially larger than any other single international win in the Company’s history.

Forward-Looking Statements

This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management's current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Cogent is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.

Forward-looking statements in this press release include, without limitation, express and implied statements regarding Cogent's future growth and timing of the performance of the UK Post Office contract. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied here. Readers are referred to Cogent's Report on Form 10-K for the year ended December 31, 2008 filed by Cogent with the Securities and Exchange Commission which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: changes in government policies; deriving a significant portion of revenues from a limited number of customers; deriving a significant portion of revenues from the sale of solutions pursuant to government contracts; failure of Cogent’s products to achieve broad acceptance; failure to successfully compete; failure to comply with government regulations; negative publicity and/or loss of clients due to security breaches resulting in the disclosure of confidential information; failure to manage projects; rapid technology change in the biometrics market; loss of a key member of management team; termination of backlog orders; loss of limited source suppliers; negative audits by government agencies; failure to protect intellectual property; and exposure to intellectual property and product liability claims. The information contained in this press release is a statement of Cogent's present intention, belief or expectation and is based upon, among other things, existing industry conditions, market conditions, the economy in general and Cogent's assumptions. Cogent may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise. Cogent undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Cogent Systems, Inc.
Paul Kim, 626-325-9600
www.cogentsystems.com
or
The Blueshirt Group, Investor Relations
Chris Danne, 415-217-7722
chris@blueshirtgroup.com
Jill Isenstadt, 415-217-7722
jill@blueshirtgroup.com

(Source: Business Wire )


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