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Tri-S Security Awarded Two Contracts Valued at $5,000,000 from the Department of Homeland Security and the Department of Defense
May 28, 2008 (08:05 AM EDT)
ATLANTA, May 28 /PRNewswire-FirstCall/ -- Tri-S Security Corp. , has announced that Paragon Systems, a subsidiary of Tri-S, has recently been awarded two new contracts. Total value of the contracts is estimated at approximately $5,000,000. Terms of the contracts are for 5 years and will average about $1 million per year. Because of the nature of the work, specific details cannot be disclosed except to say they are with the Department of Homeland Security and the Department of Defense.
According to Ronald G. Farrell, CEO of Tri-Security, "This work once again shows the government's confidence and belief in the quality and performance of Paragon Systems. These contracts were not part of our pipeline of bids and therefore a bonus we did not expect. Both contracts have already started and results will be seen immediately."
About Tri-S Security Corporation
Based in Atlanta, GA, Tri-S Security Corp. is a provider of security services and equipment for government and private entities spanning a wide range of industries. The government sector is serviced through its wholly-owned subsidiary Paragon Systems and the private sector through its subsidiary Cornwall Group. 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.
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, 2006. 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 results of new information, future events or otherwise. You may obtain and review our filings with the Securities and Exchange Commission by visiting http://www.sec.gov .
CONTACT: Ron Farrell, President, Tri-S Security Corporation,+1-678-808-1540
Web site: http://www.trissecurity.com//