TAG Company Secures Funding From Adurion Capital

HARMONDSWORTH, England and FORT LAUDERDALE , Fla., Sept. 6 /PRNewswire/ --TCI Ltd., trading as TAG Company, a fast growing retail security company, announced that it has closed a round of growth capital funding. TAG receives $5.6 million from Adurion Global Opportunities Fund Ltd. (AGOF), a mid market investment fund.

"We are pleased to have the backing of the Adurion group. Adurion and its parent company Armada Investment Group, have a proven track record of successful investments in growing technology companies. Over the last few years, TAG Company has invested internally in the development of exciting new technology and applications. We now have the necessary working capital to bring these innovations to a waiting marketplace. In the next two quarters, we will launch three breakthrough products that will revolutionize aspects of our industry," said Mark Krom , TAG's President and CEO.

TAG Company is a provider of Electronic Article Surveillance (EAS) systems and supplies, competing with Sensormatic Electronics (ADT) and Checkpoint Systems. The company sells, installs, and services both of the leadingindustry technology platforms: Swept-RF and Acousto-Magnetic in its portfolio of exit and point-of-sale systems, accessories, tags, and labels. TAG has installed two of the largest chain-wide EAS rollouts in the global marketplace in the last two years.

The investment structure is up to $5.6 million in convertible 5 percent Secured Loan Notes to TCI Ltd., the Bermuda corporation parent of subsidiaries TAG Company UK Limited and TAG Company US LLC. The notes are convertible up to 27.5 percent of TCI Ltd. Shareholders in the company include Mr. Krom, London-based Woolworths Holdings Ltd., and Richard Cowan of Farnham Common, England.

Joining TAG's Board of Directors from Adurion are Patrick Teroerde and Dr. Jurg Gassmann. Mr. Teroerde , Executive Director of Adurion, stated, "We are excited by TAG Company's growth potential. Our criterion is to invest inpromising but established companies with a track record of increasing revenues and positioned for high growth multiples. We're impressed with TAG's management team and believe that their new products will deliver great value to the company."

"From its inception, TAG's mission has been to be a major player and solutions provider in the retail tagging sector," Krom said. "We plan to increase our pace of growth and expand our market share. We will continue todevelop breakthrough products that will likely yield additional growth opportunities. Most of all, we want to build upon our status as a respected and superior solutions provider to retailers across the globe."