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Tri-S Security Subsidiary Paragon Systems, Inc. Awarded Contract for United States Marshals Services

Posted on: Wednesday, 15 April 2009, 07:30 CDT

ATLANTA, April 15 /PRNewswire-FirstCall/ -- Tri-S Security Corp. (Nasdaq: TRIS), a provider of security services for government and private entities, today announced that on April 13, 2009 its wholly-owned subsidiary, Paragon Systems, Inc. (Paragon) was awarded an $808,000 contract over the next five years, to provide qualified Armed Detention Officers to guard prisoners as required by the United States Marshals Service for the Northern District of Alabama.

Paragon shall furnish the necessary security personnel to provide for the protection and safekeeping of persons held under the authority of any United States statue, including the detention of persons who are non-resident or non citizens of the United States. Start date for the contract is June 1, 2009.

According to Ronald G. Farrell, Chairman and CEO of Tri-S Security, "This is our first contract with the US Marshals Service (US Department of Justice). I am very pleased with this new contract as it opens a new branch of the government to do business with in the future."

Mr. Farrell further stated that "except for the first quarter of 2009, a period in which no new contracts were awarded on bids submitted by Paragon, we have won contracts in every quarter going back to the fourth quarter of 2005."

"With a current pipeline of over $500m, we continue to look forward with confidence to a strong 2009 with revenues of approximately $145-$150 million," Mr. Farrell added.

About Tri-S Security Corp.

Based in Atlanta, GA, Tri-S Security Corp. (NASDAQ: TRIS) is a provider of security services for government and private entities. Security services include uniformed guards, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. 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, 2007 and in our Quarterly Reports on Form 10-Q filed subsequent thereto. 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.

SOURCE Tri-S Security Corp.

Source: PR Newswire

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