Exhibit 99.1
FOR IMMEDIATE RELEASE

                        VERITEC AND ICONIX TO JOIN FORCES

     GOLDEN VALLEY, Minnesota,  February 25, 2002 - Veritec (OTC Bulletin Board:
VRTC.OB)  announced  February  18th,  2002  that it has  formed  and owns 50% of
Veritec  Iconix  Ventures,  Inc (VIVI).  VIVI has acquired  Iconix.  Iconix,  an
industrial automation firm, is located in Osaka, Japan.

     Veritec  is  in  the   business   of  selling  and   installing   Automatic
Identification Systems using industry standard machine-readable symbols, and its
proprietary  VeriCode(R) symbol. The VeriCode(R) symbol is commonly used for LCD
computer screen manufacturing, where conventional bars codes are too big.

     VIVI  is  particularly   strong  at  systems   integration  with  customers
throughout the textile  industry.  VIVI and Veritec will be working  together to
offer  increased  sales,   installation  and  support  for  LCD,  textile,   and
semi-conductor applications in North America and Asia.

     VIVI and  Veritec  will  also  have  access  to each  other's  intellectual
property  resources.  Starting  in the  1980's  with the NASA  shuttle  program,
Veritec  has led the  world  in  creating  two-dimensional  barcode  technology.
Veritec holds key patents in Europe and the United States. VIVI is currently the
sole licensee of the CP Code patents in Asia.

     Veritec is expanding its market into the authentication industry, where the
VeriCode(R)  symbol is well suited due to its proprietary  nature and additional
benefits such as high data density, scanner orientation  independence,  and ease
of use on a wide range of materials.  VeriCode(R)  symbol technology can be used
to store  biometric  information  on ID  cards,  providing  additional  security
without requiring the creation of a centralized database.  Veritec will be using
the VIVI resources to deploy this new technology.

                                       ###

     Statements in this press  release that are not  statements of historical or
current fact constitute  "forward-looking  statements" within the meaning of the
Private  Securities   Litigation  Reform  Act  of  1995.  Such   forward-looking
statements  involve  known and unknown  risks,  uncertainties  and other unknown
factors  that could  cause the actual  results of the  Company to be  materially
different  from the historical  results or from any future results  expressed or
implied by such  forward-looking  statements.  In addition to  statements  which
explicitly  describe such risks and uncertainties  readers are urged to consider
statements labeled with the terms "believes," "belief," "intends," "anticipates"
or "plans" to be uncertain and forward-looking.  The forward-looking  statements
contained  herein are also subject  generally  to other risks and  uncertainties
that are described from time to time in the Company's  reports and  registration
statements filed with the Securities and Exchange Commission.



                                 Exhibit 99.1-1