Tri-S Security Subsidiary Awarded $42.5M Contract For Federal Facilities In Southern Virginia

Atlanta, GA - Tri-S Security Corp., a provider of security services for government and private entities, recently announced its wholly-owned subsidiary, Paragon Systems, Inc. ("Paragon"), was awarded, on December 31, 2008, a $42.5M contract to provide armed and unarmed guard services in Southern Virginia. The contract is with the Department of Homeland Security and is valued at approximately $42.5M over five years. It is scheduled to start on April 1, 2009, adding approximately $6.4M in revenue for Paragon in 2009. It will require approximately two hundred guards at a number of sites throughout Southern Virginia.

"This contract increases the total awards for the fourth quarter of 2008 to approximately $183.5M and a total of approximately $545.5M for the full year 2008," said Ronald G. Farrell, Chairman and CEO of Tri-S Security.

Paragon has now won a contract in each of the last thirteen quarters, stretching back to the fourth quarter of 2005.

"With a current pipeline of contracts valued at $355M, we continue to look forward with confidence to a strong 2009," added Mr. Farrell.

SOURCE: Tri-S Security Corp.