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Check Technology Secures $11.5 Million Imaggia Systems Order from Harland

Press release from the issuing company

MINNEAPOLIS, Sept. 10 Check Technology Corporation today announced a new equipment contract with the John H. Harland Company for additional purchases of Check Technology's Imaggia advanced digital document production system. The contract, valued at $11.5 million for equipment alone, supplements the initial purchase agreement announced by the two companies in January 2000. Equipment deliveries under the new contract are expected to begin immediately and will be completed in the spring of 2002. The additional equipment being sold under the new contract will be included in Check Technology's existing service plan with Harland, which covers consumables, supplies and a dedicated Check Technology service team. Check Technology anticipates that the new equipment will result in approximately $8.0 million of incremental revenue over the next three years from the sale of consumables and supplies. "Harland initially selected Imaggia to be part of its digital modernization after months of production trials and comparisons,'' said Jay Herman, president and chief executive officer of Check Technology. "This new contract comes after significant actual production experience in which the Imaggia was employed in multiple shifts at several plant locations across the country. I believe it's fair to say that the Imaggia met and exceeded expectations. "The Imaggia is the keystone of Check Technology's strategy to provide digital printing solutions for the North American check printing market, and it is demonstrating substantial productivity advantages in check-printing and a widening range of other intelligent and secure digital printing needs.'' Check Technology is introducing the next generation of its high-volume, cut-sheet, digital print system, the Imaggia(TM) II, at the PRINT 01 trade show in Chicago, Ill. from September 6-13, 2001. At 300 pages per minute, the Imaggia II surpasses the Imaggia MG20 as the world's fastest cut-sheet digital printer.

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