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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (52471)	3/5/2000 9:56:00 AM
From: Anthony@Pacific	Read Replies (1) \| Respond to of 122087

LOCK<--settles lawsuits by paying big moola & AGREEING TO take responsibility away from Gardner..since it was Brooks all along behind teh Pumporamma11 PRN SAF T LOK AGREES TO SETTLE SHAREHOLDER LAWSUIT Aug 3 1999 8:12 WEST PALM BEACH, Fla., Aug. 3 /PRNewswire/ -- Saf T Lok Incorporated (Nasdaq: LOCK) announced today that the Company has agreed with plaintiff- shareholders to settle all claims brought against the Company, its Chairman, Frank Brooks, and its former President and CEO, John Gardner. The claims being settled relate to certain disclosures and non-disclosures concerning the Company between May 26, 1998, and June 12, 1998. The terms of the settlement include payment of $850,000.00 to the plaintiffs. The settlement payment will be fully funded by the Company's insurer, except that the Company will pay the legal fees for itself and Mr. Gardner. Persons who acquired shares of Saf T Lok Incorporated between May 26, 1998, and June 12, 1998, will have the option to participate in the settlement or exclude themselves from the class. The settlement is subject to court approval. Saf T Lok Incorporated is the manufacturer of the Saf T Lok(R) hand gun safety locks. The Company's patented combination grip locks and magazine locks become an integral part of the firearm so there is nothing to remove, no keys or rings to find and no batteries to fail. The "touch-sensitive" combination allows for operation of the lock -- even in the dark. Unlike trigger locks, which require guns to be unloaded, the Saf T Lok(R) gun locks can safely lock both loaded and unloaded firearms. Only someone who knows the combination can use the gun or remove the lock. Except for historical information, this press release contains forward- looking statements concerning, among other things, future plans and operating results. Such statements are based on the Company's current plans and expectations. Actual results could differ materially based upon a number of factors, including but not limited to increased competition, dependence upon key personnel, market acceptance of the Company's products and other factors described in the Company's periodic reports filed with the Securities and Exchange Commission. SOURCE Saf T Lok Incorporated -0- 08/03/99 /CONTACT: Jacquie Cofer of Saf T Lok, 561-478-5625/ /Web site: saf-t-lok.com /