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Smartmatic, Sequoia Voting Systems announce voluntary CFIUS filing

Boca Raton, Florida, October 29, 2006 - Sequoia Voting Systems, Inc. ("Sequoia") and its parent, the Smartmatic Corporation ("Smartmatic"), today announced that, contrary to reports, the companies have voluntarily submitted a notice to the U.S. Committee on Foreign Investment in the United States (CFIUS). The companies filed voluntarily in order to allow the U.S. Government to review Smartmatic?s acquisition of Sequoia.

"No foreign government or entity ? including Venezuela ? has ever held an ownership stake in Smartmatic, and we have voluntarily filed with CFIUS to put to rest the baseless but persistent rumors about our ownership," said Antonio Mugica, Chief Executive Officer, Smartmatic.

The firm is owned primarily by three young entrepreneurs: Antonio Mugica, a dual-Spanish-Venezuelan national (78.8%); Alfredo Anzola (3.87%); and Roger Piñate (8.47%). The other main investor is Jorge Massa (5.97%), a well-known French-Venezuelan businessman. Smartmatic employees and friends and family own the remainder of the firm (2.89%).

As part of the CFIUS process, Smartmatic and Sequoia have voluntarily provided significant information to CFIUS on all aspects of the two firms? businesses and ownership and the security and integrity of Sequoia?s voting solutions.

"As a company, we sought out a CFIUS review because we are confident it will clear the air so we can focus on what we do best ? making the world?s most secure and auditable voting solutions," added Antonio Mugica.

Press Conference: 2:00pm, Washington, DC, October 30 th, 2006.

Smartmatic and Sequoia will hold a press conference tomorrow ? Monday, October 30 ? to present additional information on their voluntary filing, the company?s ownership and operating structure and to take questions.

The press conference will be held at Sutherland Asbill and Brennan LLP, 1275 Pennsylvania Avenue NW, Washington DC 20004 at 2:00PM, Monday, October 30 th, 2006.

A call-in number for journalists will be distributed tomorrow.

About Smartmatic

Smartmatic is a multinational company that specializes in the design and end-to-end deployment of complex purpose-specific technology solutions. With an unsurpassed technology base, continuous innovation, and quality in processes and results, Smartmatic is organized around three business areas: Electronic voting systems, intelligent and integrated security systems for large enterprises and governments, and advanced solutions for people registration and authentication for a wide range of government applications.
Smartmatic is a privately held company with offices in the US, Mexico, Venezuela, Barbados, Spain, Philippines and Taiwan. It has more than 200 employees worldwide. Its capacity for innovation and wide range of products and services have earned Smartmatic extensive recognition in the technology community worldwide.

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About Sequoia Voting Systems

Sequoia Voting Systems is an American company, based in Oakland, California with a 100-year history of providing accurate, reliable, state-of-the-art voting solutions dating back to the nation's first lever-based mechanical voting equipment in the 1890s. Sequoia provides election technology, services and support to state and local government including precinct-based optical scan ballot readers, high-speed central count optical scan ballot readers, ballot layout and printing services, and full-face and paginating electronic voting equipment with optional printers that produce voter verifiable paper records. The company has hundreds of customers throughout 16 states and the District of Columbia.

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Michelle M. Shafer
VP, Communications & External Affairs