Tri-S Security Subsidiary Awarded Two Contracts Valued at $141 Million for Federal Facilities in Los Angeles and San Diego, Cali

ATLANTA , Jan. 5 /PRNewswire-FirstCall/ -- Tri-S Security Corp. (Nasdaq: TRIS), a provider of security services for government and private entities, today announced its wholly-owned subsidiary, Paragon Systems, Inc. ("Paragon"), was awarded two new...


ATLANTA , Jan. 5 /PRNewswire-FirstCall/ -- Tri-S Security Corp. (Nasdaq: TRIS), a provider of security services for government and private entities, today announced its wholly-owned subsidiary, Paragon Systems, Inc. ("Paragon"), was awarded two new contracts to provide armed guard services in Los Angeles and San Diego, California . Both contracts are with the Department of Homeland Security and include security for the counties surrounding Los Angeles and San Diego . The Los Angeles contract and the San Diego contract are valued at approximately $94 and $47 million, respectively, for a combined total of $141 million in revenue over five years. As a result of these contract awards, Paragon's contract awards for 2008 now total over $503 million.

"We would like to express our appreciation to the Department of Homeland Security for its continued support of Paragon, and reaffirm our commitment to continue to provide the quality of service that the Department of Homeland Security has come to expect from Paragon," said Ronald G. Farrell , Chairman and CEO of Tri-S Security.

"Fiscal year 2008 has been the best year for Paragon for contract awards since it was acquired by Tri-S Security in 2004. With a current pipeline of contracts valued at $397 million, we look forward with confidence to a strong 2009," added Mr. Farrell.

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, 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, 2007 , and 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.