ATLANTA--(BUSINESS WIRE)--April 11, 2006--Tri-S Security Corp.
(NASDAQ: TRIS), a provider of security services and equipment for
federal government and private entities, today announced that the
Department of Homeland Security (DHS), U.S. Immigration and Customs
Enforcement Procurement Division, has selected its subsidiary, Paragon
Systems, Inc., to secure the DHS headquarters Nebraska Avenue Complex
(NAC) in Washington, D.C. The contract is expected to generate
approximately $29 million in revenues over five years.
Paragon Systems, based in the Washington, DC area, will provide
highly trained armed guards, special police officers, emergency
dispatchers, desk sergeants, emergency medical technicians and alarm
monitors to the DHS headquarters 24 hours a day, seven days a week.
Paragon Systems' management team has begun to execute the transition
protocols for security services which will commence in August 2006.
President Bush established the DHS in November 2002. It is
comprised of twenty-two former independent agencies and is responsible
for transforming and realigning the current patchwork of government
activities into a single department whose primary mission is to
protect U.S. homeland. DHS is also charged with increasing the
nation's overall preparedness for catastrophic events, improving
transportation security systems, strengthening border security and
interior enforcement, reforming immigration processes and enhancing
information communications. Many of these operations are housed in the
Nebraska Avenue Complex.
"It is an honor to be selected by the U.S. Department of Homeland
Security as the security provider for this important facility," said
Leslie Kaciban, president of Paragon Systems. "We appreciate the value
of this agency's work and are dedicated to ensuring its safety. Just
as we do for all our federal government customers, we will provide the
highest level of security and overall satisfaction."
"This contract is a milestone in Tri-S Security's growth plan,"
said Ronald Farrell, CEO, Tri-S Security Corp. "We invested in the
further development of Paragon Systems' management team and security
professionals because we understood the value this team could bring to
current and new federal government clients. We look forward to serving
this and additional new contracts throughout 2006."
About Tri-S Security Corp.
Based in Atlanta, GA, Tri-S Security Corp. (NASDAQ: TRIS) is a
provider of security services and equipment for government and private
entities spanning a wide range of industries. Security services
include uniformed guards, electronic monitoring systems, personnel
protection, access control, crowd control and the prevention of
sabotage, terrorist and criminal activities. As a leading aggregator
of elite security companies, Tri-S Security is designed to build a
strong enterprise in which to service a unique customer base that
ensures America's safety at home and work. Tri-S Security assumes
responsibility for the marketing, infrastructure and overall
operational performance for its subsidiaries. Tri-S Security's
management leverages highly trained government officers, experienced
industry leaders, proven financial executives and infrastructure
experts to consolidate the fragmented security industry into one
efficient and effective security force.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Federal securities laws. Forward-looking statements
are commonly identified by such terms and phrases as "should",
"expects", "plans", "anticipates", "believes", "estimates", "projects"
and other terms with similar meaning indicating potential impact on
our business. Although we believe that the assumptions upon which such
forward looking statements are based are reasonable, we can give no
assurance that these assumptions will prove to be correct. Important
factors that could cause actual results to differ materially from our
projections and expectations are disclosed in our filings with the
Securities and Exchange Commission, including the "Risk Factors"
section set forth in our Annual Report on Form 10-K for the year ended
December 31, 2004. All forward-looking statements in this press
release are expressly qualified by such cautionary statements and by
reference to their underlying assumptions. We do not undertake to
publicly update the forward-looking statements contained herein to
conform to actual results or changes in our expectations, whether as a
result of new information, future events or otherwise. You may obtain
and review our filings with the Securities and Exchange Commissions by
visiting http://www.sec.gov.
CONTACT: Tri-S Security Corp.
Media Contact:
Ginger Lightburn, 678-808-1540, x 111
gingerlightburn@trissecurity.com
or
Investors:
Alliance Advisors, LLC
Alan Sheinwald, 914-244-0062
asheinwald@allianceadvisors.net
SOURCE: Tri-S Security Corp.