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Magal Notified of an Award of a $21.4 Million Contract for a Comprehensive Security System

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Friday, November 26th, 2010

As reported by IVC

Magal Notified of an Award of a $21.4 Million Contract for a Comprehensive Security System

Magal Security Systems, Ltd. (NASDAQ: MAGS, TASE: MAGS) announced today that it received a formal notification from the Port Authority of an African country that it has won a tender to secure the main seaport of the country. The total value of the project is estimated to be $21.4 million, with a targeted completion date within two years after receipt of the formal order.

No contract has yet been signed; the Company will provide an update upon receipt of a signed contract.