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Gold/Mining/Energy : IDS Intelligent Detection Systems (ISD.TO) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ferrari who wrote (127)	12/2/1999 10:06:00 AM
From: Michael Block	Read Replies (1) \| Respond to of 149

IDS Announces Acquisition Agreement Reached With Val d'Or Sagax Inc. Toronto, Ontario-- IDS pursuing select acquisitions as geophysical and exploration sectors consolidate IDS Intelligent Detection Systems Inc. (TSE:ISD) announced today that its wholly-owned subsidiary, Scintrex Limited has entered into an agreement to acquire Val d'Or Sagax, a Quebec based, innovative geophysical services company specializing in ground and borehole exploration with operations in Western and Northern Africa, South America as well as North America. "Val d'Or Sagax has a worldwide reputation for innovative geophysical data gathering techniques," says Dr. Mariusz Rybak chairman and CEO, IDS. "Their emphasis on providing industry leading services and technology plus their established operations on three continents make Val d'Or Sagax an important partner for many of the world's major exploration companies." Val d'Or Sagax currently has 21 geophysicists and 20 highly specialized technicians operating from 9 offices and is ISO 9001 certified. Revenue has averaged $6.8 million annually over the last 3 years generating average annual pre-tax earnings of about $200 thousand per year over the same period. "The Val d'Or Sagax agreement and our recently announced agreement with Micro-g Solutions Inc. are part of IDS's strategy to build critical mass in our geophysical business and to gain economies of scale," said Dr. Rybak. "Geophysical and exploration markets have endured a prolonged cyclical downturn over the past few years and consolidation is well underway. The marketing and distribution strength of Scintrex positions us well to pursue select acquisitions and secure synergies rapidly." The proposed acquisition of Val d'Or Sagax Inc., is subject to various conditions, including the execution of definitive agreements, due diligence and regulatory approvals. Val d'Or Sagax's website is located at www.vdsagax.ca. IDS's website is located at www.idsdetection.com. IDS is an innovative developer, manufacturer and marketer of proprietary sensory technology and communication systems. The company operates through seven business units: Analytical & Security products and solutions, IDS Power Control Systems, Scintrex Earth Science Instrumentation, Survey & Exploration Technology Services, IEC (Integration, Engineering and Consulting), ChemiCorp International and Caduceon Inc. Its more than 70 products range from drug and explosive detectors to nuclear safety control instruments, oil and gas exploration and developing technologies for industrial process control and point-of-care health analysis. For additional information: Media Relations Investor Relations Louise Armstrong Rick Conroy Advanced Planning & Communications Lexington Communications Telephone: (416) 967-3702 Telephone: (416) 588-1888 U.S. Contacts Thomas Dean/ Michael Block Murdock Capital Partners Telephone: (212) 421-2545 www.murdockcapital.com