INTEGRATED SECURITY SYSTEMS, INC. ANNOUNCES SUBSIDIARY
SALE OF VT 6802 SAFETY BARRIER PATENT AND TECHNOLOGY
Irving, Texas – March 19, 2002 – Integrated Security Systems,
Inc. (OTCBB Symbol: IZZI) today announced the sale of the patent rights
and the transfer of technology for the VT 6802 Safety Barrier Gate (SBG)
by its wholly owned subsidiary, B&B Electromatic, Inc.
In consideration for the patent rights and transfer of technology, B&B
received:
$350,000 cash
Exclusive manufacturing rights for up to eight SBG’s sold, or
otherwise utilized by the purchaser, during the 12 months immediately
following the effective date of the agreement, at a mutually agreed
upon transfer price.
A non-exclusive patent license agreement from the purchaser to
manufacture, sell and service the VT 6802 for certain non-railroad
applications.
"Since September 11, our primary focus has been directed toward
filling the perimeter security needs of industries such as oil refining,
nuclear power generation, chemical, and the like. Our crash tested
anti-terrorist CR-25 crash beam barrier has been the leading product in
filling those needs," said Jack Caldwell, President of B&B. "The
agreement with the purchaser for our VT 6802 safety barrier patent and
technology is a win-win occurrence. With its extensive marketing and
sales capabilities, the purchaser can effectively leverage B&B’s four
year market penetration efforts in the railroad crossing market segment.
Additionally, the purchaser can utilize the VT 6802 in other application
it deems appropriate," he concluded.
Headquartered in Irving, Texas, IZZI is a high technology company that
designs, develops and markets security software to the commercial,
industrial and governmental marketplaces. IZZI’s Intelli-Site NT
provides users with a software solution that integrates existing
subsystems from multiple vendors without incurring the additional costs
associated with upgrades or replacement. Intelli-Site NT features a
user-defined graphics interface that controls various security devices
within one or multiple facilities. IZZI is also a leading provider of
traffic control and safety systems within the road and bridge and
perimeter security gate industries. IZZI designs, manufactures and
distributes warning gates, crash barriers (anti-terrorist and traffic
control barriers), lane changers, airport and navigational lighting and
perimeter security gates and operators. IZZI conducts its design,
development, manufacturing and distribution activities through two
wholly owned subsidiaries: Intelli-Site, Inc. and B&B Electromatic, Inc.
This information contains certain forward-looking statements. It is
important to note that IZZI's actual results could differ materially
from those projected by such forward-looking statements. Important
factors that could cause actual results to differ materially from those
projected in the forward-looking statements include, but are not limited
to, the following: operations may not improve as projected, new products
may not be accepted by the marketplace as anticipated, or new products
may take longer to develop than anticipated.