||Alanco Investor Relations
Alanco/TSI PRISM Awarded Pilot Contract
For High Security Government Hazmat Monitoring Project
(Scottsdale, AZ – October 29, 2007) – Alanco Technologies, Inc. (NASDAQ: ALAN), announced today that its Alanco/TSI PRISM subsidiary has been awarded a pilot contract to develop, install and evaluate a new RFID tracking and monitoring system for management of certain hazardous materials stored in high security federal government facilities. The trial project will be based upon the Company’s TSI PRISM RFID inmate tracking technology and custom designed to provide instantaneous tamper detection and movement of the target materials within large, physically complex storage facilities. Installation of the pilot RFID system is expected to be completed in December, 2007, followed by a testing and evaluation period. Initial contract value is in the range of $100,000. Federal government security requirements preclude disclosure of further project information, including site location, timing and scale of potential full deployment.
Greg M. Oester, President of Alanco/TSI PRISM, Inc., commented, “We are actively pursuing new applications for our unique TSI PRISM technology beyond our historical prison market. This new hazmat monitoring opportunity provides us entry to potentially large federal government security applications.”
Alanco Technologies, Inc. (NASDAQ: ALAN), headquartered in Scottsdale, Arizona, is a rapidly growing provider of wireless tracking and asset management solutions through its StarTrak Systems and Alanco/TSI PRISM subsidiaries. Corporate website: www.alanco.com
StarTrak Systems is a leading provider of GPS tracking and wireless asset management services to the transportation industry and the dominant provider of tracking, monitoring and control services to the refrigerated or “Reefer” segment of the transportation marketplace. StarTrak products increase efficiency and reduce costs of the refrigerated supply chain through the wireless monitoring and control of critical Reefer data, including GPS location, cargo temperatures and Reefer fuel levels. StarTrak offers complete integrated solutions for refrigerated trailers, trucks, railcars, and containers. Additional information is available at www.StarTrak.com.
Alanco/TSI PRISM is the leading provider of RFID real-time tracking technologies for the corrections industry. TSI PRISM systems track and record the location and movement of inmates and officers, resulting in enhanced facility safety and security and significant staff productivity improvements. Utilizing proprietary RFID (Radio Frequency Identification) tracking technology, TSI PRISM provides real-time inmate and officer identification, location and tracking both indoors and out, and is currently utilized in prisons in Michigan, California, Illinois, Ohio, Missouri, Virginia, and Indiana. Additional information is available at www.TSIPRISM.com.
The Company also participates in the data storage industry through its wholly owned subsidiary, Excel/Meridian Data, Inc., a manufacturer of Network Attached Storage (NAS) systems. Excel delivers uniquely scalable, manageable and cost-effective storage solutions for all network storage customers. For further information, visit www.emdstorage.com.
Except for historical information, the statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are subject to, and are qualified by, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. These risks and uncertainties include, but are not limited to, reduced demand for information technology equipment; competitive pricing and difficulty managing product costs; development of new technologies which make the Company’s products obsolete; rapid industry changes; failure of an acquired business to further the Company’s strategies; the ability to maintain satisfactory relationships with lenders and to remain in compliance with financial loan covenants and other requirements under current banking agreements; and the ability to secure and maintain key contracts and relationships.