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YAHUD, Israel, December 21 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ NM: MAGS, TASE: MAGS) today announced that its fully
owned Canadian based subsidiary, Senstar-Stellar Corporation (SSC) has
recently received approximately US$2 million in orders for provision of
security solutions and security system infrastructure for power generation
and other sensitive sites located across Canada.
More than half of the work on the new orders will be completed in fiscal
year 2005, with the balance completed by the end of 2006.
Mr. Jacob Even-Ezra, Chairman of Magal commented, "These orders are from
customers looking to us to provide solutions for their security needs. It is
testament to the breadth and quality of our products and services, and the
fact that our products have been tried, tested and shown to be work very well
in high security-risk environments."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. is engaged in the development, manufacturing
and marketing of computerized security systems, which automatically detect,
locate and identify the nature of unauthorized intrusions. Magal also
supplies video monitoring services through Smart Interactive Systems, Inc., a
subsidiary established in the U.S. in June 2001. The Companys 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. Israeli-based
Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Romania,
Mexico and an office in China.
Magal trades under the symbol MAGS on the Nasdaq National Market since
1993 and on the Tel-Aviv Stock Exchange (TASE) since July 2001.
This press release contains forward-looking statements, which are subject
to risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks
and uncertainties, many of which cannot be predicted with accuracy and some
of which might not even be anticipated. Future events and actual results,
financial and otherwise, may differ from the results discussed in the
forward-looking statements. A number of these risks and other factors that
might cause differences, some of which could be material, along with
additional discussion of forward-looking statements, are set forth in the
Companys Annual Report on Form 20-F filed with the Securities and Exchange
Commission.
Contacts:
Company
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-5391444
Fax: +972-3-5366245
E-mail: magalssl@trendline.co.il
Investor Relations
Gelbart Kahana Investor Relations
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
E-mail: Ehud.Helft@galir.com
Kenny.Green@galir.com
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