Magal Reports Results of Annual General Meeting

Name	Symbol	Market	Type
Roundhill Magnificent Seven ETF	AMEX:MAGS	AMEX	Exchange Traded Fund

Roundhill Magnificent Se... (AMEX:MAGS)
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YAHUD, Israel, August 21 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced the results of its Annual General Meeting of Shareholders held on August 20, 2008, at the Company's headquarters in Yehud, Israel. Following are the meeting results with respect to the different items on the agenda: 1. Election of Jacob Perry, Jacob Even-Ezra, Izhar Dekel, Nathan Kirsh, Jacob Nuss and Zeev Livne as Directors of the Company - was approved 2. Terms of compensation for certain of the Company's Directors - was approved 3. Terms of compensation of Mr Jacob Perry, Chairman of the Board - was approved. 4. Extension of the exercise period of Share Options granted to Mr. Jacob Even-Ezra, a Company Director and former Chairman of the Board - was approved 5. Grant of a bonus to Mr Izhar Dekel, the Company's Chief Executive Officer - was not approved 6. Amendment to the Company's Articles of Association providing for the grant of the authority to appoint, dismiss and set the terms of employment Company officers (excluding the Company's Directors and Chief Executive Officer) to the Company's Chief Executive Officer - was not approved 7. Amendments to the Company's Articles of Association in order to conform those provisions with respect to Directors and Officers liability insurance and indemnification to meet the requirements of the Israeli Companies Law - was approved. 8. Amendment to the Company's 2003 Israeli Share Option Plan, to extend its term and to increase the number of ordinary shares reserved and authorized for issuance thereunder - was approved 9. Reappointment of Kost Forer Gabbay & Kasierer, independent registered public accountants, a member firm of Ernst & Young Global, as the Company's independent registered public accountants for the year ending December 31, 2008 and to authorize the Company's audit committee to fix the remuneration of the auditors in accordance with the volume and nature of their services - was approved About Magal Security Systems, Ltd. Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. The Company'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. Magal trades under the symbol MAGS in the U.S. on the Nasdaq Global Market and in Israel on the Tel-Aviv Stock Exchange (TASE). Contacts: Company Investor Relations Magal Security Systems, Ltd Gelbart Kahana Investor Relations Lian Goldstein, CFO Ehud Helft/Kenny Green Tel: +972-3-5391444 Tel: +1-866-704-6710 Fax: +972-3-5366245 E-mail: E-mail: DATASOURCE: Magal Security Systems Ltd CONTACT: Contacts: Company, Magal Security Systems, Ltd, Lian Goldstein, CFO, Tel: +972-3-5391444, Fax: +972-3-5366245, E-mail: ; Investor Relations, Gelbart Kahana Investor Relations, Ehud Helft/Kenny Green, Tel: +1-866-704-6710, E-mail:

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MAGS Roundhill Magnificent Seven ETF