Singapore, May 17th, 2006 – Singular ID Pte Ltd, the provider of integrated brand security products based on advanced micro and nanotechnology solutions, announced today that it has incorporated its Italian subsidiary Singular ID Italia Srl with an investment from Veneto Nanotech SCPA.

Singular ID was the winning team in the Nanochallenge International Business Plan Competition ( www.nanochallenge.com ), held during November 2005. The prize of €200,000 cash and €100,000 in-kind services will fund the initial operations of Singular ID Italia, enabling it to rapidly build its business from its location in northern Italy . At incorporation, Veneto Nanotech holds 7.5% of the quotas of the subsidiary, the balance being allotted to Singular ID.

Based in Padua , an historical University city in the Veneto region of Italy , Singular ID Italia will focus on deploying Singular ID's products and services in the Personal Premium Fashion Goods sector. This region of Italy is regarded as the power house that serves this particularly industry, with numerous branded goods and accessories for fashion items being manufactured in the area. Furthermore, the region is establishing itself as a European centre of excellence for high-end materials research and development, particularly aimed at applied technology that enhances the activities of small medium enterprises.

“We have already had numerous promising discussions with key industrial players in the region. We can clearly see how we will incorporate our tagging technology into buttons, zippers, apparel labels, fasteners and other accessories that find their way into fashion goods. This means we can offer the Principal Fashion Houses an anti-counterfeiting solution that is ready-to-go, without them having to overly concern themselves with the details of the technology”, explains Dr Peter Moran, Chief Technology Officer of the Singular ID Group of companies.

The day-to-day operations of Singular ID Italia will be run by the newly appointed General Manager, Mr Stefano Gallucci, reporting directly to Dr Adrian Burden, Singular ID's Group CEO in Singapore . Mr Gallucci is an experienced entrepreneur and company manager who has built businesses in both the United States and Italy . Recently, he was Business Development Manager and then Chief Executive Officer of a medium sized Italian public company in the Information Technology sector. He has also served as General Manager of a large manufacturing company in the clothing and apparel business. With additional technical knowledge in programming, enterprise resource planning systems, and financial software, Stefano's background is well suited to promoting and delivering Singular ID's brand protection solution to the chosen market.

Dr Enzo Sisti has been appointed to the Board of Directors of Singular ID Italia. Dr Sisti has a background in strategic marketing and is currently Investor Relations manager at Veneto Nanotech. Previously, he has worked as a marketing consultant in one of the world's leading professional service organizations. In this position, he was involved in numerous projects concerning the marketing strategy of some large Italian corporations in the automotive and aerospace sectors. He has a Ph.D. in Philosophy of Communication from the Department of Philosophy and Theory of Sciences, University of Venice .

“We are very pleased that the winner of our inaugural Nanochallenge business plan competition has now started its operations in the Veneto region of Italy . Our remit is to attract new materials-based nanotechnology businesses to the region and then facilitate the process so that the new company can operate effectively and efficiently from the first day. Singular ID Italia's fit is perfect; it's a high technology business that offers commercial products that in turn can add value to the goods of local companies”, states Mr Nicola Trevisan, CEO of Veneto Nanotech.

Dr Burden concludes “This is a really exciting milestone for Singular ID. Despite being a young company, we can now boast global reach right into the heart of one of our key markets. Veneto Nanotech brings us excellent value in the form of their extensive network, Stefano brings us diverse experience and knowledge that complements our existing management team, and Padua is a vibrant city from which to do business.”

About Singular ID Pte Ltd

(Website: www.singular-id.com ; E-mail: info@singular-id.com )

Head-quartered in Singapore , Singular ID is a nanotechnology spin-off company that was founded to commercialise magnetic tagging technology. With a mission to safeguard customers' interests by providing integrated tagging solutions that protect people, brands, corporate images and market share, Singular ID aims to be the leading solution provider for tracing and authenticating items of value. To achieve this, Singular ID works closely with its clients to tailor its technology to meet specific customer requirements. This may involve undertaking pilot projects where beneficial. For companies who wish to understand more about nanotechnology and the applicability of different brand protection technologies, Singular ID also offers a consultancy service to evaluate the options and create a roadmap for their implementation. Singular ID has licensed core technology from the Agency for Science Technology and Research (A*STAR), Singapore .

About Singular ID Italia Srl

(Website: www.singular-id.com ; E-mail: italia@singular-id.com )

Singular ID Italia is a subsidiary of Singular ID, located in the city of Padua in the Veneto region of Northern Italy . With an investment from Veneto Nanotech, the operation has the exclusive remit of the Singular ID group of companies to target the Personal Premium Fashion Goods sector. Sharing the same mission, vision and values of its parent Singular ID, Singular ID Italia aims to be the leading solution provider for tracing and authenticating branded fashion items; stemming counterfeiting, preventing product overruns, and identifying diverted / grey market

goods. Singular ID Italia, with the support of Singular ID, works closely with its clients to deliver fully integrated turn-key solutions to effect global brand security.

About Veneto Nanotech SCPA

(Website: www.venetonanotech.it ; E-mail: info@venetoanotech.it )

Veneto Nanotech was established in 2003 to foster the growth of activities using nanotechnology applied to materials. It cooperates with the Universities of Padova, Venezia and Verona and other institutions in the Region of Veneto with the participation of the Ministry of Education and various public orgnisations and private companies. In order to coordinate the initiatives and strategic actions of the Italian nanotechnology cluster, Veneto Nanotech facilitates enterprises to adopt process and product innovation, fosters the creation of high technology start-ups, and promotes the application of nanotechnology. It strives to attract private investment for research and to encourage technology transfer.

Public Relations

Dr Adrian Burden

Singular ID

Tel: +65 9159 0235 Email: adrian.burden@singular-id.com

Ms Federica Lodato

Veneto Nanotech

Tel: +39 049 7705500

Email: federica.lodato@venetonanotech.it

Mr Stefano Gallucci

Singular ID Italia

Tel: +39 049 8697501 Email: stefano.gallucci@singular-id.com