Time Finance Regulatory News (TIME)

9 Feb 2006 07:00

FOR IMMEDIATE RELEASE 9 February 2006 TIMESTRIP PLC ("Timestrip" or the "Company") Timestrip technology achieves one year breakthrough Timestrip Plc, which develops and markets a unique label technology foraccurately measuring elapsed time, is delighted to announce that it hasdeveloped a Timestrip smart label that is capable of monitoring elapsed timefor up to one year.This achievement, which surpasses the current six month capability, is theresult of extensive research and development and enables the Company to reachan even wider customer base. New potential customers include manufacturers ofcosmetic and personal care products which, under EU legislation, have a oneyear life once opened.Timestrip has already received an order from Labellord, a European distributor,who will launch a freezer version of the product later this year.Reuben Isbitsky, co-Founder and Joint CEO of Timestrip Plc commented:"Today's announcement is significant for our business as we can now offer ourproducts into new mass markets. The Cosmetic and personal care markets presentsubstantial opportunities for the group as does the frozen food sector. Ourtechnology now has the real potential to communicate Sell by and Use dates onfood products, in addition to the shorter elapsed time requirements of "onceopened" dates."Enquiries:-Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700Shane Dolan, Biddicks 020 7448 1000Roland Cornish/Felicity Geidt, Beaumont Cornish 020 7628 3393Notes to editorsNotes about Timestrip PlcTimestrip plc has developed an inexpensive and versatile technology foraccurately measuring elapsed time. Timestrip's smart labels contain a liquidwhich migrates across the label, enabling users of perishable food and otherproducts to monitor for how long an item has been open or in use. Thetechnology can be implemented as an external label or can be fully integratedinto products and product packaging.The Timestrip technology is relevant to a wide range of food and non-foodproducts which, once opened, should be used or replaced within a recommendedtime. Expiry dates feature prominently in the following mass markets, whichTimestrip actively targets:* Food Retailing* Catering and Food Services* Consumables* Pharmaceuticals* Medical Devices* CosmeticsTimestrip's main route to market is through supply and license agreements withmanufacturers and packaging companies who will integrate Timestrip labels intotheir products or packaging.ENDTIMESTRIP PLC