CLEAR Acquired Out of Bankruptcy

New Owners to Reinstate and Honor Subscription Terms of Previous Members

Expects to be in Major Airports in the Fall 2010

NEW YORK--()--Alclear, LLC today announced that it has acquired the assets of Verified Identity Pass Inc. out of bankruptcy protection. The Company plans to re-launch CLEAR, its biometric-based, secure Trusted Traveler program, in select major airports in the fall of 2010. Enrollment for new customers is expected to begin in the summer 2010 and the subscription terms of nearly 160,000 previous members will be honored.

CLEAR is a secure biometric identification platform that pledges predictability, expedience, and service for its members through airport security. CLEAR will activate valuable privileges and amenities both locally and nationally for its customers. Pricing plans will include: $179.00 per year flat fee for unlimited use or a family plan, for an additional $50.00 on top of the unlimited plan.

"We are thrilled to re-launch CLEAR – a service with proven demand that will increase airport efficiency and security while delivering significant value to our customers,” said Caryn Seidman-Becker, Chairman and CEO of CLEAR. “We are rebuilding CLEAR with our members and for our members. We are working to build our footprint and re-introduce the program. We look forward to partnering with airports nationwide, regulators and lawmakers to ensure CLEAR's success.”

CLEAR’s Board of Directors will include Michael Chertoff, former Secretary of the U.S. Department of Homeland Security, Craig Coy, former President and COO of L3 Communications’ Homeland Security Group and Chief Executive Officer of the Massachusetts Port Authority, and Robert LaPenta, Chairman, President and CEO of L-1 Identity Solutions. The Company is assembling a world class management team with significant experience in the aviation, marketing, and security industries.

About CLEAR

CLEAR, the original Registered Traveler program, will offer a biometric-based secure identification platform to deliver significant value for customers, increase predictability and enhance airport security. For more information please visit www.flyclear.com.

Contacts

Sard Verbinnen & Co
Jonathan Gasthalter/Carrie Bloom, 212-687-8080

Contacts

Sard Verbinnen & Co
Jonathan Gasthalter/Carrie Bloom, 212-687-8080