ImageWare Systems, Inc. Announces Increase in Public Warrant Exercise Price

Apr 02, 2001, 01:00 ET from ImageWare Systems, Inc.

    SAN DIEGO, April 2 /PRNewswire/ -- ImageWare Systems, Inc.
 (Amex:   IW, IW.WS) today announced that effective as of the market open on
 April 5, 2001, one year after the close of the company's initial public
 offering, the exercise price of their publicly traded warrants to purchase
 common stock will increase to $12.00 per share of common stock, which
 represents 150% of the initial public offering price of $8.00 per unit of
 common stock and warrant.
     During the first year after the close of the initial public offering, the
 exercise price of a publicly traded warrant was $9.60 per share of common
 stock.  The warrants expire five years after the close of the initial public
 offering.
 
     About ImageWare Systems:
     ImageWare Systems, Inc. develops, sells and supports a suite of modular
 software products known as C.R.I.M.E.S.(R) used by law enforcement and public
 safety agencies to manage criminal digital images and data.  ImageWare's
 software systems and associated hardware allow customers to quickly create,
 archive, search, retrieve and share digital photographs and criminal history
 records.  Through its ITC and Goddard subsidiaries, ImageWare also develops,
 sells and supports software used to create digital identification cards and
 documents.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
 These statements involve a high degree of risk and uncertainty, are
 predictions only and actual events or results may differ materially from those
 projected in such forward-looking statements.  Factors that could cause or
 contribute to differences include the uncertainty regarding viability and
 market acceptance of the Company's products and services.  These factors and
 others are more fully described in the section entitled "Risk Factors" in the
 Company's Final Prospectus, dated March 30, 2000.
 
 

SOURCE ImageWare Systems, Inc.
    SAN DIEGO, April 2 /PRNewswire/ -- ImageWare Systems, Inc.
 (Amex:   IW, IW.WS) today announced that effective as of the market open on
 April 5, 2001, one year after the close of the company's initial public
 offering, the exercise price of their publicly traded warrants to purchase
 common stock will increase to $12.00 per share of common stock, which
 represents 150% of the initial public offering price of $8.00 per unit of
 common stock and warrant.
     During the first year after the close of the initial public offering, the
 exercise price of a publicly traded warrant was $9.60 per share of common
 stock.  The warrants expire five years after the close of the initial public
 offering.
 
     About ImageWare Systems:
     ImageWare Systems, Inc. develops, sells and supports a suite of modular
 software products known as C.R.I.M.E.S.(R) used by law enforcement and public
 safety agencies to manage criminal digital images and data.  ImageWare's
 software systems and associated hardware allow customers to quickly create,
 archive, search, retrieve and share digital photographs and criminal history
 records.  Through its ITC and Goddard subsidiaries, ImageWare also develops,
 sells and supports software used to create digital identification cards and
 documents.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
 These statements involve a high degree of risk and uncertainty, are
 predictions only and actual events or results may differ materially from those
 projected in such forward-looking statements.  Factors that could cause or
 contribute to differences include the uncertainty regarding viability and
 market acceptance of the Company's products and services.  These factors and
 others are more fully described in the section entitled "Risk Factors" in the
 Company's Final Prospectus, dated March 30, 2000.
 
 SOURCE  ImageWare Systems, Inc.