Time Finance Regulatory News (TIME)

7 Mar 2005 13:46

FOR IMMEDIATE RELEASE 7 March 2005 Timestrip Plc ("Timestrip" or the "Company") Timestrip Plc Announces Progress on European and South African Patents The Board of Timestrip plc, which markets an inexpensive and versatiletechnology for accurately measuring lapsed time, is pleased to announce that ithas received advance notification from the European Patent office of itsintention to grant a European Patent for its Timestrip technology andmanufacturing process (application number 02 743 427.3.). The Company is alsopleased to announce that a corresponding patent application has now beengranted in the Republic of South Africa. Further Patents are being pursued in major jurisdictions across the world andthe Company is confident of reporting further progress in securing approvals inthe coming months. Timestrip currently supplies customers both in the US and UK in the FoodService markets and is progressing with its existing development contracts forintegration of the technology into devices and packaging. Expiry dates featureprominently in five international mass markets and represent significantopportunities for Timestrip's technology. The key markets are: Food Retailing;Catering and Food Services; Consumables; Pharmaceuticals and Medical Devices. Paul Freedman, Joint CEO of Timestrip plc commented: "Timestrip's technology has significant applications in a number ofinternational mass markets and therefore it is crucial for the group to securethe underlying Patents to our technology and manufacturing processes. We arevery pleased that good progress has been made in this area in tandem withfurther progress on the integration\development front and we look forward tomaking further announcements in due course" For further information: Paul Freedman, Joint CEO and founding Director, Timestrip 01462 440700Stephen Oakes, Falcon Securities 0207 375 1177Shane Dolan,Biddicks 0207448 1000Roland Cornish, Beaumont Cornish Limited 0207 628 3396END