Tri-S Security Corporation Sells Additional Shares

Underwriters exercised over-allotment option for 270,000 share units


Atlanta, Ga. -- Tri-S Security Corporation, a provider of contract guard services to various Federal government agencies, has announced that the underwriters of the company's recent initial public offering of 1,800,000 units have exercised in full their over-allotment option to purchase an additional 270,000 units at the initial public offering price of $6 per unit, less an underwriting discount of $0.48 per unit. Each unit consists of one share of the company's common stock and a warrant to purchase one share of the company's common stock.

Capital Growth Financial, LLC and Bathgate Capital Partners LLC acted as co-managers for the initial public offering.

Ronald Farrell, chairman and chief executive officer of Tri-S, commented, "I could not have been more pleased with how the underwriters handled the offering. The capital received from the exercise of the over-allotment option adds enormous flexibility. We anticipate using the over-allotment proceeds to reduce debt, thereby reducing interest expense, and for working capital in connection with our acquisition program."

A registration statement on Form S-1 (No. 333-119737) registering the securities sold in the company's initial public offering was filed with the Securities and Exchange Commission and declared effective on Feb. 8, 2005.