Paragon Awarded $5 Million Government Contract
General
Posted: Feb 27, 2006
Company Selected To Secure State of Washington Facilities
ATLANTA – Monday, Feb. 27, 2006 – Tri-S Security Corp. (NASDAQ: TRIS), a provider of security services and equipment for federal government and private entities, today announced it has been selected by the Federal Protective Service (FPS) and the Department of Homeland Security to provide security services for Southwestern Washington. Tri-S Security’s subsidiary, Paragon Systems, Inc., was tapped to secure federal government buildings throughout key areas across the state; the contract is estimated to generate $5 million in revenue over five years.
The contract requires Paragon Systems to provide armed guards on-site at federal government buildings in Tacoma, Puyallup, Olympia, Riverdale, Port Angeles, Hoquiam and Centralia, WA. The various properties in these locations house multiple government agencies including the Department of Homeland Security, Social Security Administration and Department of Justice.
The mission of the FPS is to provide law enforcement and security services to over one million tenants and daily visitors to all federally owned and leased facilities nationwide. FPS focuses directly on the interior security of the nation and the reduction of crimes and potential threats to federal facilities throughout the nation. The FPS, an agency of the Department of Homeland Security, reviewed multiple bidders prior to selecting Paragon Systems.
“We are proud of the work Paragon Systems has been doing for the federal government and we are looking forward to providing the highest quality security for the state of Washington,” said Ronald Farrell, CEO, Tri-S Security Corp. “Paragon Systems’ management team and security professionals understand the importance of protecting our federal facilities. We are excited that the government has acknowledged our unending commitment to its security needs.”
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.
Media Contact:
Tri-S Security Corp.
Ginger Lightburn, 678-808-1540, x 111
gingerlightburn@trissecurity.com
The contract requires Paragon Systems to provide armed guards on-site at federal government buildings in Tacoma, Puyallup, Olympia, Riverdale, Port Angeles, Hoquiam and Centralia, WA. The various properties in these locations house multiple government agencies including the Department of Homeland Security, Social Security Administration and Department of Justice.
The mission of the FPS is to provide law enforcement and security services to over one million tenants and daily visitors to all federally owned and leased facilities nationwide. FPS focuses directly on the interior security of the nation and the reduction of crimes and potential threats to federal facilities throughout the nation. The FPS, an agency of the Department of Homeland Security, reviewed multiple bidders prior to selecting Paragon Systems.
“We are proud of the work Paragon Systems has been doing for the federal government and we are looking forward to providing the highest quality security for the state of Washington,” said Ronald Farrell, CEO, Tri-S Security Corp. “Paragon Systems’ management team and security professionals understand the importance of protecting our federal facilities. We are excited that the government has acknowledged our unending commitment to its security needs.”
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.
Media Contact:
Tri-S Security Corp.
Ginger Lightburn, 678-808-1540, x 111
gingerlightburn@trissecurity.com