Gemplus -- EDBV Smart Labs Invests in Ufinity -- A First for the Smart Card Fund

1.   Smart Labs (www.smartlabs.com.sg), an early-stage fund set up jointly by GemVentures of Gemplus and EDB Ventures (EDBV"), has made its first investment in Ufinity (www.ufinity.com), a Singapore-based early stage company that specialises in providing carrier-grade solutions with secured Single Sign On" (SSO) functionality to access different information networks in multiple locations, using wired or wireless devices. Ufinitys existing clients include StarHub, Singapore Telecoms, Mobile One and The Star Publications (Malaysia). Going forward, Ufinity aims to expand rapidly into other industry segments in Singapore as well as the region. Ufinity will incorporate smart card technology to further enhance the security features of Ufinitys product.

2.   Ufinitys flagship product, RightAccess, offers businesses a unified and easy-to-use platform to authenticate, authorise, audit and administer user access across disparate intranet and extranet information networks located in multiple geographical regions. It enables users to securely access enterprise applications and services using wired or wireless devices. The user is authenticated once and his identity is federated to other applications or services within the circle of trust provided by RightAccess. SSO reduces the user barrier in accessing multiple applications or web services which will translate into more revenue and customer loyalty for the organisation.

3.   With the proliferation of web services and network applications, Authentication, Authorisation and Administration (3A") of user access have become a major concern among organisations. Traditionally, each user is given multiple access identities for different applications which inconvenience the users and are an administrative nightmare for any IT department. " said Lai Yeow Hin, Director of Smart Labs Pte Ltd.

4.   Ufinitys RightAccess, by providing SSO and a circle of trust, resolves user access issues and enhances customer retention and revenue by providing seamless access to partner sites. Moreover, the enterprise benefits from a greater ease of management and accelerated deployment of new applications." said Michael Ng, Director of Smart Labs Pte Ltd. He further added, Ufinitys proven product and experience in providing carrier grade security software put them in a good position to address the growing demand for 3A software in Asia." IDC projects that the 3A software demand in Asia will grow from US$117 million in 1999 to US$1.3 billion in 2004.

5.    The investment by Smart Labs allows us to intensify product research and development, and expand our sales and marketing activities to meet the increasing demand for our multi-channel access management solutions," said Chee Yeow Meng, Chief Development Officer of Ufinity. We are extremely pleased that the investment has paved the way for Ufinity to leverage Gempluss technical expertise and EDBs network. "
For media enquiries, please contact:
Koh Lian Hock, Manager, Smart Labs Pte Ltd at Tel: 6317 3805 (DID) or email: lian-hock.koh@smartlabs.com.sg

About Smart Labs Pte Ltd
Gemplus -- EDB Ventures Smart Labs Pte Ltd (Smart Labs") was set up in November 2001 as a joint venture between GemVentures of Gemplus and EDB Ventures. Smart Labs looks for and nurtures innovative ideas and applications based on smart card technology. An early-stage fund, Smart Labs has an investment budget of US$6 million targeted at young companies with innovative and viable business plans.
For more information, visit http://www.smartlabs.com.sg

About Gemplus & GemVentures
GEMPLUS: the world's leading provider of smart card solutions.
Gemplus helps its clients offer an exceptional range of portable, personalized solutions that bring security and convenience to people's lives. These include mobile internet access, inter-operable banking facilities, e-commerce and a wealth of other applications.

Gemplus is the only completely dedicated, truly global player in the Smart Card industry, with the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.
In 2001, Gemplus was the worldwide smart card leader in both revenues and total smart card shipments (source: Gartner-Dataquest, Frost and Sullivan, BNP Paribas) . Gemplus was also awarded 2002 Frost and Sullivan Market Value Award for its exceptional performance.
Gemplus trades its shares on Euronext Paris S.A. First Market and on the Nasdaq Stock Market as GEMP in the form of ADSs. Its revenue in 2001 was 1 billion Euros.

GemVentures is Gemplus' Corporate Venture Capital Fund set up in early 2000. With a fund size of US $75 Million, it aims to boost the smart card industry by investing in start up and young companies with innovative and viable business plan for smart card applications across Europe, the Americas and Asia. For more information, visit http://www.gemventures.com

About EDBV
EDB Ventures Pte Ltd (EDBV") is a wholly-owned subsidiary of EDB Investments Pte Ltd (EDBI"), the investment arm of the Singapore Economic Development Board (EDB"). It makes strategic investments world-wide focusing on new business-models, technology and knowledge intensive projects that deliver innovative solutions in hardware, software and related services. EDBI manages in excess of US$3 billion and has made investments in over 260 projects.
For more information, visit http://www.edbi.com