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Magal Announces Contracts of More Than Us$13 Million to Protect
Sensitive Sites in Africa and Europe
YAHUD, Israel, May 31 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd.
(NASDAQ NMS: MAGS; TASE: MAGS), today announced that it has signed two
contracts totaling over US$13 million for supplying comprehensive security
solutions at two sensitive sites, one based in Africa and the other based in
Europe. The installations will commence in the third quarter of 2005 and are
expected to be completed before the end of 2006.
These projects incorporate a number of Magal's products, including the recently
introduced DreamBox, an All-in-One CCTV security solution, which integrates a
number of CCTV related applications, into one box.
Mr. Jacob Even-Ezra, Chairman of Magal, stated: "We are pleased to win these
particular contracts with clients based in Africa and Europe, demonstrating the
global demand for our security solutions. We believe that we will receive
additional follow-on orders for these particular projects. As the market
becomes more educated with regard to the capabilities of DreamBox, we are
seeing a growing interest for this product."
About Magal Security Systems, Ltd.
Magal Security Systems Ltd. is engaged in the development, manufacturing and
marketing of computerized security systems, which automatically detect, locate
and identify the nature of unauthorized intrusions. Magal also supplies Video
Monitoring Services through Smart Interactive Systems, Inc., a US- based
subsidiary. Magal's products are currently used in more than 70 countries
worldwide to protect national borders, airports, correctional facilities,
nuclear power stations and other sensitive facilities from terrorism, theft and
other threats. Israel-based Magal has subsidiaries in the US, Canada, the UK,
Germany, Romania, Mexico and an office in China.
Magal trades in the US on the NASDAQ National Market since 1993 and in Israel
on the Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the symbol
MAGS.
This press release contains forward-looking statements, which are subject to
risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and some of
which might not even be anticipated. Future events and actual results,
financial and otherwise, may differ from the results discussed in the
forward-looking statements. A number of these risks and other factors that
might cause differences, some of which could be material, along with additional
discussion of forward-looking statements, are set forth in the Company's Report
on Form 8-K filed with the Securities and Exchange Commission.
Contacts:
Magal Security Systems Ltd
Roi Levy, Controller
Tel: +972-3-539-1444
Fax: +972-3-5366245
Gelbart Kahana Investor Relations
Ehud Helft, Kenny Green
US toll free: 1-866-704-6710
International: +972-3-6074717
E-mail:
DATASOURCE: Magal Security Systems Ltd.
CONTACT: Magal Security Systems Ltd: Roi Levy, Controller, Tel:
+972-3-539-1444, Fax: +972-3-5366245. Gelbart Kahana Investor
Relations: Ehud Helft, Kenny Green, US toll free:
+1-866-704-6710, International: +972-3-6074717, E-mail:
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