MACE (NasdaqN-Mkt: MACED) Introduces DVRs To Surveillance Systems

Dear Reader, 

On December 5th, 2002 StockUpTicks brought you an in-depth profile (Click Here) of a company that is a household name with a namesake product: Mace®. 

Briefly, the profile on MACE SECURITY INTERNATIONAL, INC.,  points out three key financial highlights of this profitable company:

A strong cash position of $7.2 million or $0.29 per share as of September 30, 2002 
Shareholders equity of $59 million ($2.33 per share)
A stock trading at just 38% of its September 30, 2002 book value per share (as of market close on 12/03/02)

The profile also reveals MACE to be an effective model of revenue diversification. In addition to its self-defense product line, the company owns and operates 55 car washes as a profitable revenue stream and has successfully branched out into the home surveillance market with an impressive product catalog. 

Today's breaking news from MACE is proof positive that MACE isn't resting on its legendary brand name, but is staying on the cutting-edge of technology. MACE is dedicated to the expansion of its surveillance division and we think you'll like today's news ... 

* * * TODAY'S BREAKING NEWS FROM MACE * * *

Press Release
Source: Mace Security International, Inc.
Monday December 23, 4:02 pm ET 

MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Dec. 23, 2002--Mace Security International, Inc. ("Mace") (Nasdaq:MACED - News), a manufacturer and marketer of security products and a leading provider of car care services, today proudly announces the introduction of its innovative line of DVRs (Digital Video Recorders). 

The MACE recorders offer more features at a more cost effective price than recorders of other manufacturers. The DVRs are an essential component of MACE's video camera surveillance systems. 

The MACE line consists of four DVR models. Model DVR-0100 is a single channel recorder with a four channel switcher. The Model DVR-0400, 0800 and 1600, respectively, allow simultaneous live or playback viewing of four, eight and 16 locations on-site or remotely via the internet with the option of isolating and zooming in on any one particular area of interest. 

"We are very excited to be offering to consumers the new DVRs which are superior in performance at a cost- effective price. The new DVRs developed by Mace are a key component to Mace's integrated digital camera surveillance systems," said Louis D. Paolino, Jr., Chairman and Chief Executive Officer of Mace. 

Mr. Paolino continued to state, "Digital Video Recorders are truly revolutionizing the security and surveillance industry and are becoming an integral part of a reliable protection solution for the business and home owner. A DVR enables the user to replace conventional VCRs and costly tapes, while drastically improving picture quality, speed, and ease of playback while allowing remote viewing of images through the internet." 

All Mace models offer the following advance features: front panel controls; remote viewing and configuration of camera images through the internet; Pan Tilt Zoom of cameras connected to the DVR; 80 GB hard drive expandable to 2000 GB; triplex operation allowing simultaneously viewing of live events, recording and searching of recorded images; high resolution images using MPEG1 and MPEG4 technology; video motion detection, which records only when motion is detected; and hard drives which are self-formatting. 

MACE's new line of advanced DVRs will be offered solely under the registered trademark name of MACE. The Company plans to utilize its current distribution channels for marketing its new line of DVRs including mass merchants, catalogs, installers, security dealers and spy shops. 

Detailed specs on the digital video recorder line of products can be viewed on the Company's website at www.mace.com. For information relating to the distribution of Mace® Security Products, contact Surveillance Sales at (856) 778-2300 or via email at info@mace.com.

On December 17, 2002, Mace Security International, Inc. effected a one-for-two reverse stock split. Effective on the day of the split, Mace's symbol changed from MACE to MACED. On January 16, 2003, twenty trading days from the date of the split, Mace's symbol will revert back to MACE. 

Certain statements and information included in this press release constitute "forward-looking statements'' within the meaning of the Federal Private  Securities Litigation Reform Act of 1995. 

When used in this press release, the words or phrases "will likely result'', "are expected to'', "will continue'', "is anticipated'', "estimate'', "projected'', "intends to'' or similar expressions are intended to identify "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. 

Such statements are subject to certain risks, known and unknown, and  uncertainties, including but not limited to economic conditions, dependence on management, dilution to shareholders, lack of capital, the effects of weather on the demand for car care services, the effects of rapid growth upon the Company  and the ability of management to effectively respond to the growth, its ability to achieve operating synergies, its ability to compete, regulatory matters, the effects of competition, its ability to maintain the control of the Company's cash business, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. 

 Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and  expectations are contained in the Company's SEC filings, including its S-3 registration statements, Form 10-K for 2001, Form 10-Q for the quarter ended March 31, 2001, Form 10-Q for the quarter ended June 30, 2001, Form 10-Q for the quarter ended September 30, 2001, Form 10-Q for the quarter ended March 31, 2002 and Form 10-Q for the quarter ended June 30, 2002. 

This press release should be read in conjunction with the financial statements and notes contained in the Company's annual report on Form 10-K and the Company's quarterly reports on Form 10-Q. 
 

ABOUT MACE SECURITY INTERNATIONAL, INC.

Though Mace is known worldwide for its popular self-defense sprays, a deeper inspection of the company's financials reveals a business plan based on the car care industry and on new digital surveillance products which will be marketed under the enormously recognizable Mace brand name. Currently, the majority of its revenues and earnings are generated by its success in the car care services sector. However, Mace is heavily investing in a roll out of innovative electronic surveillance products including  its new 14" Dual Page Color Quad Surveillance System, 14" Black & White Quad Surveillance System and 2.4 Ghz Wireless Audio & Video System. 

Louis D. Paolino, Jr. is the Chairman, Chief Executive Officer and President of the Company.  Mr. Paolino was formerly the Chairman, Chief Executive Officer and President of Eastern Environmental Services, Inc., a solid waste management services company.  When Mr. Paolino joined Eastern in June 1996, the company's sales for that fiscal year totaled $7.6 million with a market value of less than $10 million with a stock price of $1.50.  Mr. Paolino was responsible for implementing an aggressive acquisition policy that resulted in the completion of 60 acquisitions by the end of 1998, thus producing an annual sales run rate exceeding $450 million.  In a stock transaction announced in August of 1998 and closed on December 31, 1998, Eastern, then the country's fifth largest solid waste management company, was merged into industry leader Waste Management, Inc. with a valuation in excess of $1.3 billion and a NASDAQ stock value of $32 per share.  He received a B.S. degree in Civil Engineering from Drexel University.

FOR MORE INFORMATION

Mace Security International, Inc., 
1000 Crawford Place, Suite 400
Mt. Laurel, NJ 08054
Phone: (856) 778-2300
Fax: (856) 439-1723
Email: info@mace.com

Investor Relations Contact: Louis Paolino, Jr. 856/778-2300

Corporate Web site: www.mace.com

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