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Paragon Systems Awarded $30.0 Million Contract in Washington State

General
Posted: May 5, 2007
Paragon Systems to Provide Security Services at Various FPS Facilities Throught the State of Washington
 

ATLANTA--(BUSINESS WIRE)--May 7, 2007--Tri-S Security Corp. (NASDAQ: TRIS), a provider of security services and equipment for government and private entities, today announced its wholly-owned subsidiary, Paragon Systems, Inc. ("Paragon"), has been awarded a new contract with the U.S. Department of the Homeland Security, Washington State (Northern Area) for $30.0 million in total revenue over the five-year contract period. The contract will begin June 1, 2007.

The contract requires Paragon to provide security guard services at various Federal facilities located primarily in the Seattle area but also including the cities of Auburn, Renton, Mt. Vernon, Bellingham, Everett and Kent. Paragon will provide more than 120 guards for the contract.

"We established a small presence on the West Coast last year to build our visibility and further establish our regional credibility," said Leslie Kaciban, Jr., president of Paragon. "This contract validates not only our expertise but also our ability to provide our security services anywhere in the United States. We are extremely proud to have been awarded such a significant contract from the Federal government."

"Paragon is making significant progress in increasing its top line growth and this contract is a significant achievement," said Ronald Farrell, CEO, Tri-S Security Corp. "I am very pleased with the momentum in our business having now been awarded four contracts since the first of the year worth $53.0 million of new business at Paragon."

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. 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, 2005. 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: For Tri-S Security Corp.:
             Corporate Communications
             Kevin Inda, 407-566-1180
             kevin.inda@cci-ir.com

    SOURCE: Tri-S Security Corp.