<html><body><P>TTS Zurich is a FREE newsletter bringing you the European view on Today’s Top Story from a hectic financial world. Based in Switzerland, TTS gives you a level-headed view of markets and companies, and provides valuable sources of further information. Our reports are honest and concise - your time is too valuable to read reams of speculation - our researchers trawl the financial news and bring you the cream. </P><P align=center><STRONG><FONT size=5> STRONG BUY ON GALTON BIOMETRICS INC. (GALB.pk)</FONT></STRONG></P><P> </P><P> </P><P><EM><STRONG><FONT size=4>Symbol: GALB (GALB.PK) 3 Months High / Low: $3.30 / $0.36 </FONT></STRONG></EM></P><P> <BR> TTS Zurich 12 Months Price Target: $5.10 <BR>Recent Price: $0.49 <BR>Potential 12 Months Upside: 564% <BR>Shares O/S: 22,465,000 <BR>Consensus Price Target (<A href="http://www.stocktargets.com">www.stocktargets.com</A>): $5.62 <BR>Free Float: 2,465,000 <BR>Average Daily Shares Traded: 171’000 </P><P><BR><STRONG>Summary</STRONG></P><P>- A promising new industry of biometrics <BR>- A good portfolio of technologies and solutions for many types of customers<BR>- The company could benefit of the “Homeland Security Effect”<BR>- The stock price is low by comparison to peers and needs to be discovered<BR>- TTS Zurich’s target price for Galton is $5.10 , consensus stock price target is at $5.62<BR>- 90% of the companies in the security industry are profitable, with stable margins and growth rates<BR>- Security systems and biometrics benefit from strong overall demand</P><P><BR><STRONG>Company Description</STRONG></P><P>Galton Biometrics Inc. (GALB.pk) is a biometrics company. By biometrics, we understand a company owning a technology enabling biometric recognition of individuals. The purpose of such recognition is to enhance or replace humans and human error in security access. Biometrics extends from fingerprint, facial recognition to iris reading,body measurements or equivalent, in order to identify an individual in a minimally invasive way. We recon thatbiometrics is a new and promising industry, which is to security what biotechnology is to pharmaceutics. Galton Biometrics Inc. owns a portfolio of biometric “solutions” for any type of customer willing or needing to enhance its security systems. The demand for biometrics is being driven mainly by global threats, such as terrorism or corporate espionage. Galton Biometrics inc. has gathered a substantial port! folio of technologies, which it owns or in some cases has a license agreement for in order to service its customers.</P><P><STRONG>Stock Chart<BR></STRONG><BR>Galton Biometrics Inc’s stock has been trading since November 15th, 2004 with an average of 171’000 shares per day. After the initial euphoria on the stock, GALB.pk has stabilized on a few announcements by the company on its strategy for the future. Since February 1st, the stock is back on an uptrend. This timing should be taken advantage of. TTS Zurich’s stock price target is 5.10 US$ as detailed in the following pages and this target should play itself out within a 12 to 18 months horizon.</P><P><BR><STRONG>Industry Analysis</STRONG></P><P>An Industry Comparables Analysis (ICA) has been performed on Galton Biometrics Inc. The biometrics industry is quite new and fits into the broader industry of Security Systems and Services. The major players in the sector are tabulated here below. A few elements characterize this industry:<BR>- More than 90% of the companies in the security hardware and software business are profitable companies. This has been an industry standard for years and is not likely to disappear. The nature of this business is that companies regularly achieve high profit margins (in percentage to sales).<BR>- The industry has been growing quite well also. A good year for the present companies is 25% and a bad year would be 15%. This trend is also an expression of the “Homeland Security Effect”. Most companies potentially benefiting from a contract with a large government agency (customs, defense or equivalent) will perform well and deserve higher multiples.<BR>- Investors appreciate security stocks and thereby the price multiples found are quite high by comparison to other industries. Global threats, such as terrorist threats or corporate espionage and factors that construct these high multiples. They are the expression of the trust of investors for the need to such products and services.<BR>- When a company has higher component of software rather then hardware, its margins will be higher than the industry’s margins and also its stock price multiples will be higher. </P><P>Galton Biometrics Inc. was founded at the end of 2004, and got organized as a company owning a portfolio of technologies in the field of biometrics. These technologies allow the company to have a “solutions” approach for its customers, thus spreading its business risk, and to fall into the trap of becoming a technology focused business, with a single product, single customer vision. Galton’s primary target is customs facilities, airports and sensitive office building. The following forecast income statement allows a view of the developments planned for the company. These numbers might seem quite conservative to the average investor. Nevertheless, one could also forecast a five-fold revenue figure from the one forecast. One single customs contract could potentially be substantially superior to the numbers proposed here. What remains certain, and wh! ich is expressed in the forecasts, is the demand for the technology in general and the relatively high margins the company should be able to achieve by comparison to its peers.</P><P><FONT size=1>Disclaimer: TTS Zurich provides information on selected companies that TTS Zurich believes has investment potential, as an independent research firm. TTS Zurich is not a registered investment advisor or broker dealer. This report is provided for information service only and the statements and opinions in this report should not be construed as an offer or solicitation to buy or sell any security. TTS Zurich accepts no liability for any loss arising from or investors reliance or use of this report. An investment in GALB.pk is considered to be highly speculative and should not be considered unless the person can afford a complete loss of investment. TTS Zurich was paid $17,500 USD to effect full research report and news alerts for a 12 months period. TTS Zurich intends to ! contract other third party IR and PR agencies to expand the scope of the Galton Biometrics Inc. story to a wider investor audience. TTS does not trade in this security, nor will it trade in the future in this security. TTS Zurich strives to bring unbiased accurate and timely information to the market place through research. This report contains forward looking statements which involve risks and uncertainties that may cause the actual results to differ from those set forth in the forward looking statements. Information presented in our newsletters contain "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. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward lookin! g statements are based on expectations, estimates and project! ions at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will," "anticipates," "estimates," "believes," or that by statements indicating certain actions "may," "could," or "might" occur. READERS SHOULD VERIFY ANY & ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. 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