NEW YORK , Dec. 1 /PRNewswire-FirstCall/ -- MSGI Security Solutions Inc. (OTC Bulletin Board: MSGI) and Current Technology Corporation today reported StarOne Telematica SA, the 51% controlled Brazilian subsidiary of Celevoke, Inc. (Celevoke) and the most recent entry into the fast growing Brazilian market for Telematics Solutions and Tracking Systems, during November 2008 , has closed contracts for the provision of tracking services with a value of over
"Although we are still at a very early stage of development of the potentially dynamic Brazilian market, comparisons are starting to become meaningful," stated Current Technology CEO Robert Kramer . "For the first three months of effective operations to September 30, 2008 StarOne closed contracts with a value of slightly less than
Current Technology Director of Business Development and executive responsible for Brazilian operations Carl Ottersen said, "Once again, we believe this month's results validate our strategy. With our supply chain agreement in place (as announced October 28, 2008 ) and plans for a major retail roll-out in the first quarter of next year being finalized, we fully expect to achieve operational break-even ahead of schedule and within 12 months of the effective start of operations. While we are mindful of the impact of the Christmas and summer holiday period during December and January in Brazil , we believe we are well positioned and look forward to a very successful 2009 and beyond."
StarOne Telematica's program 24 Horas(TM) (24 hours) ensures round-the-clock service and support for its Brazilian clients requiring active, real-time information about the location and status of their mobile assets. Principal customers include local bus operators, regional trucking companies and tertiary service providers.
Celevoke is poised to become a market leader in the projected
About MSGI Security Solutions
MSGI Security Solutions, Inc. is a leading international provider of proprietary security solutions to commercial and government organizations. MSGI is developing a combination of innovative emerging businesses that leverage information and technology with a focus on encryption technologies for actionable surveillance and intelligence monitoring. The Company is headquartered in New York City where it serves the needs of counter-terrorism, public safety, and law enforcement in the United States , Europe , the Middle East and Asia . More information on MSGI is available on the company's website at www.msgisecurity.com
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels and other factors could cause actual results to differ materially from the Company's expectations.
SOURCE MSGI Security Solutions, Inc.