Tri-S Security Corporation Announces Department of Homeland Security Task Orders Estimated to Generate Quarterly Revenues of $2.0 Million
These additional guards have been recruited, trained and hired from the stricken communities. They will augment existing Paragon personnel and bring the total guard force to over 250 professional security personnel across Alabama to serve and protect hurricane victims that seek assistance at the Federal Emergency Management Agency ("FEMA") and Red Cross centers and shelters.
Ronald Farrell, Chairman and Chief Executive Officer of Tri-S Security, commented, "Over the last few days, my staff has spoken to various government officials in Washington D.C., and all were pleased to hear of the cooperation and teamwork between us and DHS/FPS. We believe we can contribute to rebuilding the economy in the Gulf Coast Region by hiring qualified individuals that have been displaced by the disaster in Alabama, Mississippi and Louisiana."
Mr. Farrell further stated that, "The award of this work, along with our anticipated acquisition of The Cornwall Group, Inc., which is expected to close by the end of October 2005, evidences our business strategy of growing both through the award of additional contracts and by acquisition."
Leslie Kaciban, President of Paragon, stated, "In addition to the security personnel contracted pursuant to this new task order, we are in the process of training and certifying over 200 guards to help address future security needs in Alabama, Louisiana and Mississippi upon request by DHS/FPS. Paragon is committed to be prepared to fill additional security needs of DHS/FPS."
About Tri-S Security Corporation
Tri-S Security Corporation provides contract guard services to Federal government agencies pursuant to long-term contracts. These guard services include providing uniformed and armed guards for access control, personnel protection, plant security, theft prevention, surveillance, vehicular and foot patrol, crowd control and the prevention of sabotage, terrorist and criminal activities. In connection with providing these services, we assume responsibility for a variety of functions, including recruiting, hiring, training and supervising security guards deployed to the Federal agencies we serve. We strive to provide cost-effective solutions to ensure the safety and security of the assets of our customers and to continually improve the protection we provide for their personnel, programs, resources and facilities.
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" 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 Commission by visiting the Commission's web-site at http://www.sec.gov.
