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- APPLIED DIGITAL SOLUTIONS SUBSIDIARY, DIGITAL ANGEL.NET
INC, SIGNS RESEARCH AGREEMENT WITH PRINCETON UNIVERSITY AND NEW JERSEY
INSTITUTE OF TECHNOLOGY
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- Applied Digital Chairman, Richard Sullivan, believes
Digital Angel technology could launch new era in 'location-aware' e-commerce
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- PALM BEACH, FLORIDA Jul 07, 2000 - PALM BEACH, FLORIDA
- Applied Digital Solutions, Inc. (NASDAQ:ADSX) today announced that its
wholly owned subsidiary, Digital Angel.net Inc., has signed a research
agreement with Princeton University and the New Jersey Institute of Technology.
The expanded research team will assist in the development of Digital Angel,
a miniature digital transceiver that could be used for a variety of purposes,
such as monitoring the medical conditions of at-risk patients, commodity
supply chain management, food safety, preventing the unauthorized use of
firearms, providing a tamper-proof means of identification for enhanced
e-commerce security, locating lost or missing individuals or pets, and
tracking the location of valuable property. It is anticipated that the
tiny device - which is intended to be bonded closely to the body or implanted
just under the skin - will be able to send and receive data and that it
will be tracked by GPS (Global Positioning System) technology.
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- With the newly signed research agreement, three noted
experts in the field of wireless telecommunications and geo-location technologies
will join the Digital Angel research team. The three scientists are: Hisashi
Kobayashi, Ph.D., of Princeton University's Department of Electrical Engineering;
and Sirin Tekinay, Ph.D., and Edip Niver, Ph.D., both of the New Jersey
Institute of Technology's Department of Electrical and Computer Engineering.
Dr. Peter Zhou, President and Chief Scientist at Digital Angel.net Inc.,
will continue to provide overall leadership of the Digital Angel research
effort. Commenting on the research agreement, Richard J. Sullivan, Chairman
and CEO of Applied Digital Solutions, said: "We're delighted that
these three renowned experts, who are affiliated with such prestigious
institutions, will be joining our effort to develop Digital Angel. As previously
announced, our goal is to produce a working prototype before the end of
this year. We're making enormous progress toward that goal, and I'm confident
that this expanded research team will help us meet it. We continue to see
a huge potential market for Digital Angel, and we're especially excited
about the role this device could play in launching what we call 'location-aware
e-commerce."
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- Professor Sirin Tekinay of the New Jersey Institute of
Technology said: "We are excited about this research project. The
Digital Angel concept bears the potential to provide applications of significant
value and high impact. We are happy to be working with Dr. Peter Zhou on
the enabling technologies for these applications and on the general proof
of this exciting concept."
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- About Applied Digital Solutions, Inc. Applied Digital
Solutions is a leading edge, single-source provider of e-business solutions.
The company differentiates itself in the marketplace by enabling e-business
through Computer Telephony Internet Integration (CTII). With five-year
revenue growth (from 1994 to 1998) of 64,012%, Applied Digital Solutions
is ranked as the fifth fastest-growing technology company by Deloitte &
Touche in its 1999 Technology Fast 500 listing. For more information, visit
the Company's web site at www.adsx.com.
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- Statements about the Company's future expectations, including
future revenues and earnings, and all other statements in this press release
other than historical facts are 'forward-looking statements' within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and as that term is defined in the Private
Litigation Reform Act of 1995. The Company intends that such forward-looking
statements involve risks and uncertainties and are subject to change at
any time, and the Company's actual results could differ materially from
expected results. The Company undertakes no obligation to update forward-looking
statements to reflect subsequently occurring events or circumstances.
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- Media Contact ADS Investor Relations Matthew Cossolotto
Robert Jackson Ovations International, Inc. Phone: 561-366-4800 (914) 245-9721
Fax: 561-366-0002 matthew@ovations.com rjackson@adsx.com
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