Giesecke & Devrient Has Brought Gary Glickman on Board to Lead the U.S. Cards and Solutions Business Unit

DULLES, VA., (BUSINESS WIRE), Oct. 15, 2004–Giesecke & Devrient, a global provider of banknotes, secure documents, processing equipment and smart cards, has hired Gary Glickman as CEO of Giesecke & Devrient Cardtech, Inc., the Cards and Solutions subsidiary in the U.S.

On October 1, Mr. Glickman assumed responsibility for the U.S. Cards and Solutions business unit, which includes contact and contactless smart cards, traditional magnetic stripe cards and card solutions for the government, enterprise, transit, health, payment and telecommunications market areas. Mr. Glickman is based out of G&D’s North American Headquarters, located in the technology corridor of Northern Virginia. The Dulles complex incorporates smart card production capabilities with an R&D center, sales, marketing, order management, customer support and a new technology demonstration center.

Mr. Glickman brings a wealth of experience to G&D, having recently served as Chief Marketing Officer for MAXIMUS, a leading provider of consulting, health and human services management, and information technology services to the government. Mr. Glickman has worked in both the public and private sectors for the past 25 years. He previously founded a consulting firm, Phoenix Planning and Evaluation, Ltd., which specialized in electronic commerce, smart cards, and electronic benefits transfer before being acquired by MAXIMUS in 1998.

“G&D is committed to developing smart card solutions for the U.S. market and we are pleased to have Mr. Glickman heading our team. His expertise and knowledge will help propel G&D’s presence in the smart card industry and expand our reach into new segments,” commented Peter Eisenbacher, member of G&D’s Board of Directors. “The U.S. market is ready to embrace the security that smart card technology offers. We are excited to see the increased level of activity and look forward to leading the development efforts.”

About Giesecke & Devrient

Giesecke & Devrient (G&D) is a technology leader in the supply of smart cards, systems and solutions for telecommunications, electronic payments, transportation, health, ID, and Internet security (PKI). G&D is also a leading provider of banknotes and securities as well as currency processing equipment. The Giesecke & Devrient Group, headquartered in Munich, Germany, operates subsidiaries and joint ventures all over the world. G&D employs over 6,500 people world-wide and generates annual revenues of EUR 1.05 billion. For more information, visit http://www.gdai.com.