NEW YORK--(BUSINESS WIRE)--May 4, 2006--MSGI Security Solutions, Inc. (Nasdaq: MSGI), a leading provider of proprietary security products and services, today announced that the company, along with its new strategic partner, Innovative Security Technology, Ltd., has been awarded a contract for oil pipeline security for Ten Degrees North Energy Limited in San Fernando, Trinidad and Tobago. The award comes as MSGI's Innalogic division, the city of San Fernando, and Innovative co-presented the "Digital Energy City" initiative this week in conjunction with the World Energy Cities Partnership (WECP) Conference. The WECP Conference was sponsored by Halliburton in coordination with the Offshore Technology Conference in Houston.
The Venture plc (Ten Degrees North Energy Limited) contract and other new opportunities in San Fernando, as a member of the WECP, are estimated to be worth more than $3 million in revenue during the next 18 months. MSGI-Innalogic will provide broadband wireless network connectivity and supporting software applications, establish business operations, develop solutions, and implement tactical security operations. Innovative offers sophisticated physical and technology solutions in Trinidad and Tobago, where the company's clientele includes National Gas Corporation, British Gas, and PetroTrin. Working in concert with the city of San Fernando, under the leadership of Mayor Ian Atherly, MSGI-Innalogic and Innovative will create a model digital "energy city" with the latest in security solutions.
Ian Atherly, Mayor of San Fernando commented, "We are very enthusiastic about this effort. As a member of the WECP, San Fernando sees the Digital Energy Initiative as an opportunity to create a robust, revenue generating environment for industry, city, and national collaboration using state-of-art technology for security and economic development. When completed, San Fernando envisions being a self-sufficient city providing a new regional model for municipal economic independence."
Jeremy Barbera, Chairman and CEO of MSGI commented, "We are pleased to announce our first major contract award in the natural gas and oil pipeline industry and the Caribbean and Latin America market. Our recently formed partnership with Innovative has already yielded a material victory. The World Energy Cities Partnership is a collaboration between energy cities around the world, and we will use our anticipated success in San Fernando, and our new relationships from the offshore conference in Houston, to introduce our natural gas and oil pipeline security technology and methodologies to globally focused energy concerns."
MSGI Security Solutions, Inc. is a leading provider of proprietary security products and services to commercial and governmental organizations worldwide, including the U.S. Department of Homeland Security and U.S. Department of Justice, with a focus on cutting-edge encryption technologies for surveillance, intelligence monitoring, and data protection. From its offices in the U.S. and Europe, the company serves the needs of counter-terrorism, public safety, and law enforcement agencies. More information on MSGI is available on the company's website at www.msgisecurity.com.