VOXX International Invests $3 Million in EyeLock, Inc.

            VOXX International Invests $3 Million in EyeLock, Inc.

Strategic investment in leading iris authentication provider follows
distribution agreement formed by the two companies at the 2014 Consumer
Electronics Show

PR Newswire

HAUPPAUGE, N.Y., May 19, 2014

HAUPPAUGE, N.Y., May 19, 2014 /PRNewswire/ --VOXX International Corporation
(NASDAQ: VOXX) and EyeLock, Inc., today announced VOXX has made a $3 million
strategic investment in EyeLock, a market leader in iris-based identity
authentication solutions.

The investment follows the recently announced strategic partnership for VOXX
Electronics Corp. to leverage its distribution channels in North America and
Europe to deliver EyeLock's newest solution myris™. The investment and
distribution partnership will give consumer technology and enterprise markets
broad access to directly purchase and quickly take advantage of this new tool
in the home or office.

myris is the world's first USB-enabled iris identity authenticator offering
the most convenient and secure way to authenticate an individual's identity in
the digital world. myris is compatible with Windows 7 and 8, Mac OS and Chrome
OS and uses EyeLock's proven video-based iris authentication technology. myris
is the first simple-to-use technology that converts an individual's iris
characteristics to an encrypted code unique to only that person and then
matches the code to their eyes to grant access to his or her desktop, laptop
or other devices and digital platforms they rely on the most – all in less
than one second. No lasers, no invasion of privacy, just quick, effortless
access to the accounts that matter most.

"This investment is in keeping with our stated goals for diversification in
both product offerings and strategic partnerships as we look to grow our
Company with new technologies and in new and emerging growth categories," said
Pat Lavelle, President and Chief Executive Officer of VOXX International
Corporation. "While iris authentication has been available to corporations
and enterprises for years, no platform has been simple enough for consumers to
use in everyday situations and myris changes all of that. This investment,
combined with our exclusive distribution agreement, enables us to share in the
biometrics category growth, and in theirs, and we are excited to partner with
them to bring this game changing technology to market."

myris joins an extensive suite of logical and physical access control
solutions offered by EyeLock and utilized by organizations across the
education, financial services, government, and retail sectors. Over the past
eight years, EyeLock has developed proprietary technology to change the way
information and identities are protected in personal and business
environments. EyeLock is also a sponsor member of the Fast IDentity Online
Alliance (FIDO), a non-profit organization dedicated to creating a safer and
more secure digital presence for consumers.

"This new investment from one of the most well respected companies in consumer
electronics will help propel EyeLock to the next level, benefiting consumers,
businesses, and governments alike," explained Jim Demitrieus, Chief Executive
Officer, EyeLock, Inc. "VOXX International has believed in this technology and
our vision. Deepening our partnership with VOXX not only provides additional
resources and greater flexibility for EyeLock to continue to innovate
throughout the biometrics market, but offers more opportunities to collaborate
with a great electronics brand with global reach, along with its partners and
customers."

About VOXX International Corporation:
VOXX International Corporation (NASDAQ:VOXX). The Company that began as
Audiovox over 45 years ago has morphed into a worldwide leader in many
automotive and consumer electronics and accessories categories, and now into
premium high-end audio. The Company's brands hold leading market positions
across a wide-spectrum of consumer and automotive segments.

Today, VOXX International is a global company….with an extensive distribution
network that includes some of the world's Fortune 500 companies and an
international footprint in Europe, Asia, Mexico and South America, and a
growing brand portfolio, which now comprises over 30 trusted brands including
Audiovox®, Klipsch®, RCA®, Invision®, Jensen®, Acoustic Research®, Jamo®,
Energy®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Hirschmann Car Communication®
and Oehlbach®. The Company continues to drive innovation throughout all of
its subsidiaries, and maintains its commitment to exceeding the needs of the
consumers it serves. For additional information, please visit our Web site at
www.voxxintl.com.

About EyeLock
EyeLock is a global leader in iris-based identity authentication technology
solutions. The company is changing the way identities and information is
protected from theft and financial fraud. Established in 2006, EyeLock has
built an extensive IP portfolio and broad suite of physical access control
hardware and logical access control solutions. The company's software
development kit (SDK) for embedding across OEM products and platforms extends
EyeLock's move deeper into logical applications by integrating the technology
across consumer and enterprise devices and digital networks. Its solutions
help meet critical needs across vertical industries spanning enterprise,
education, financial services, public sector and retail, among others. As a
sponsor member of the Fast IDentity Online Alliance (FIDO), a non-profit
organization dedicated to creating a safer and more secure digital presence
for consumers, EyeLock is dedicated to providing digital privacy and next
generation security. For more information, visit www.eyelock.com

Safe Harbor Statement
Except for historical information contained herein, statements made in this
release that would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in this release
are based on currently available information and the Company assumes no
responsibility to update any such forward-looking statements. The following
factors, among others, may cause actual results to differ materially from the
results suggested in the forward-looking statements. The factors include, but
are not limited to risks that may result from changes in the Company's
business operations; our ability to keep pace with technological advances;
significant competition in the automotive, premium audio and consumer
accessories businesses; our relationships with key suppliers and customers;
quality and consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price and product
competition; new product introductions; foreign currency fluctuations and
concerns regarding the European debt crisis; restrictive debt covenants; the
possibility that the review of our prior filings by the SEC may result in
changes to our financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX International
Corporation and/or our officers and directors as a result of any restatements.
Risk factors associated with our business, including some of the facts set
forth herein, are detailed in the Company's Form 10-K for the fiscal year
ended February 28, 2013.

VOXX Electronics Contact:
Larissa Bertolotti
Phone: 631-436-6408
Email: LBertolotti@audiovox.com.

Investor Contact:
Glenn Wiener, GW Communications
Phone: 212-786-6011
Email: gwiener@GWCco.com

SOURCE VOXX International Corporation

Website: http://www.voxxintl.com
 
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