To: caly who wrote (16 ) 5/6/2002 12:03:10 PM From: CIMA Respond to of 133 Viscount Enters into Investment Banking Agreement BURNABY, British Columbia, May 2, 2002 (BUSINESS WIRE) -- Viscount Systems Inc. (OTCBB:VSYS) Steven Pineau, President and CEO of Viscount Systems Inc. is pleased to announce The Company has entered into an agreement with New York based investment bank Mallon and Associates. "We are extremely pleased to have enlisted an experienced and respected investment advisor that focuses exclusively on the $100 billion global security industry," said Mr. Pineau. "It is a milestone for both Viscount and for our new MESH System." Mallon and Associates, through its parent company, Security Investing, Inc. will advise Viscount on mergers, acquisitions and strategic alliances. The investment bank, founded by long-time industry analyst Jack Mallon, represents both buyers and sellers in M&A transactions and secures financing for established companies as well as start-ups from sources that are knowledgeable about and specifically interested in investing in the security industry. We believe that there are great opportunities in the access control space," said Jack Mallon. "We are pleased to be working with Viscount, which has the potential to become a force in this burgeoning sector." About Viscount Systems Viscount Systems Inc., is a designer and manufacturer of telecommunications and electronic door control access systems for the security industry. From 1969-1997 Viscount was a R&D affiliate of Telus, itself a controlled subsidiary of GTE, now Verizon Communications. The company's diverse line of products are designed to improve safety and manage security for property owners and users. Viscount's products have been installed in approximately 35,000 sites in over 30 countries and are sold through a 500 member, North America-wide dealer network comprised of security equipment vendors, including Tyco/ADT, Honeywell and Siemens. Additional information on Viscount's products may be obtained on-line at viscount.com . Financial statements are available from the company's registration statement filed with the U.S. Securities and Exchange Commission on February 6, 2002, which may be viewed at www.sec.gov or the company's web site www.viscount.com under the heading "Investor Relations". For further information, or to be placed on email NEWS ALERT please e-mail to ir@viscount.com. or call toll free 866/252-9446. Safe Harbor Statement This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Viscount Systems Inc., nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by Viscount Systems Inc. may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions. CONTACT: Viscount Systems Inc. Konstantine Tsakumis, 866/252-9446 (Investor Relations) Greg Werbowski, 866/252-9446 (Investor Relations) ir@viscount.com or visit: viscount.com