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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.

 

 

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