Enseal:-

Foresight VCT has provided investment in Enseal to enable the company to seek a professional partner to develop the business further.

Currently Enseal has established a number of major opportunities all of which are in the US and exploitation of this is likely to come from a major international player.

We are pleased to announce further funding of Enseal Systems Ltd in Witney.

The funding has been achieved through discussion with 3i and Advent Venture Partners who provided the new funds to help the company tackle cheque fraud in the USA .

The Secure Seal software can determine whether a document or cheque has been fraudulently altered without using special inks and works seamlessly with all normal laser print and document imaging processes. The company has a number of key contracts with US Financial Institutions and leading banks. There is also a major relationship with the US Federal Reserve Bank which is using the product commercially and expects to process around 250 million cheques with security seals. The new funding is to help the company develop further markets and products to address further areas of fraud.

We are pleased to announce the launch of Enseal Systems Ltd in Witney, Oxfordshire, with a principle focus being the prevention of corporate cheque fraud.

Cheque fraud in the USA is an estimated $10 billion+ problem per annum. Enseal was formed to exploit this market opportunity by providing unique protection against document and cheque fraud.

The Secure Seal software can determine whether a document or cheque has been fraudulently altered. Secure Seal requires no special inks and works seamlessly with all normal laser print and document imaging processes. The initial market response has been very positive. We have a number of key contracts with US Financial Institutions and leading banks to license the technology including a major relationship with The US Federal Reserve Bank which is using the product commercially and expects to process around 250 million cheques with our security seals.