Richard Haddock Retires as CEO of LaserCard

LaserCard Corporation, in multi-biometric ID optical cards, announced a series of organizational
changes, including the planned retirement of CEO Richard Haddock
effective March 31, 2008. Additionally, effective immediately,
director Bernard C. Bailey will assume the position of Chairman of the
Board of Directors. In this capacity, Mr. Bailey will play a more
active role in certain operational activities of the company in order
to effect a smooth transition as Mr. Haddock approaches his
retirement. Current Chairman Don Mattson will step into the newly
created role of Vice-Chairman, and the Company will begin a formal
search for a replacement CEO.

Mr. Haddock, age 56, has been with LaserCard Corporation for over
26 years, serving the corporation in numerous executive positions,
culminating in his role as the Chief Executive Officer for the past
three years. Pursuant to a Planned Retirement Agreement described in
more detail in our concurrent Form 8-K filing, Mr. Haddock will
continue to serve as CEO until March 31, 2008, after which he will
consult for the Company during the remainder of calendar 2008 and
receive certain severance benefits. During his career at LaserCard,
Mr. Haddock has played a key leadership role in the creation and
development of the core optical memory card business, beginning with
the responsibility for the design and development of the optical card
manufacturing operations, followed by the development of the related
hardware systems and software solutions, and implementation of the
sales and marketing organization. The Company’s original secure ID
credentialing product line started with the flagship US Green Card in
1997, and has been augmented with more than ten other US and foreign
government programs to date, many of which involve hybrid cards,
combining optical memory with smart and RFID chips and holograms.

LaserCard Corporation