Appointment of Finance Director

Spectra Systems, a leader in machine-readable high speed banknote authentication, brand protection technologies and gaming security software, is delighted to announce that it has agreed to appoint Kevin Richards as the company's Finance Director, a non-Board position. Mr. Richards is replacing Mr. Spies pursuant to his separation from the company.

• Richards is an experienced accounting and finance professional with over 18 years of experience, which includes public accounting at KPMG, technical accounting, treasury and benefits, and SEC compliance, including preparation of 10-K and 10-Q statements. Mr. Richards also has experience with financial statements under both GAAP and IFRS regulations.

At IBM Mr. Richards provided financial management with a focus on revenue recognition as well as valuation of business combinations, At Linde, in addition to overseeing the accounting operations, Kevin handled SEC reporting as well as consolidation of financial statements of foreign and US subsidiaries.

• Nabil Lawandy, CEO of Spectra Systems, stated: "I am delighted to welcome Kevin to Spectra Systems and believe that his breadth of experience, particularly in revenue recognition, consolidation of financial statements, and SEC compliance will be of great value to the company."