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Non-Tech : LOCK (Saf-T-Lok) -- Ignore unavailable to you. Want to Upgrade?

To: Shadow who wrote (905)	5/11/1999 11:45:00 AM
From: steven d. zapf	Read Replies (1) \| Respond to of 1039

WEST PALM BEACH, Fla., May 11 /PRNewswire/ -- Saf T Lok Incorporated (Nasdaq: LOCK) announced today that the City of Hollywood, Florida, unanimously passed resolution #R-99-158, authorizing its police force to spend approximately $57,000 to purchase 700 Saf T Lok(R) magazine locks for its police and corrections officers. At a press conference on Friday, May 7, the Hollywood Police Department announced that they would be the first police agency in Broward County to issue gun locks to police officers. In an effort to avoid an accidental shooting or an unauthorized use, the department explained that it will purchase two Saf T Lok(R) gun locks for each officer -- one for their duty weapon and another for their off-duty weapon -- with both locks to be used while officers are off duty. "My initial interest for the product was based on my role as a parent, not just a law enforcement administrator," said Chief Al Lamberti. "We feel the Saf T Lok(R) gun lock's will compliment the department's current gun safety program, sponsored for the spouses and children of our officers, and it should be incumbent upon us, since we issue these weapons, to also issue a reliable locking device to make the weapon safe from unauthorized use." After thoroughly testing and evaluating the locks, Hollywood police officials said they chose the Saf T Lok(R) gun locks because the lock becomes part of the firearm. It works by blocking the weapon internally so that the gun cannot be fired, even with a round in the chamber, yet can be unlocked in a matter of seconds. Two municipalities in Miami-Dade County have purchased the locks already and law enforcement agencies in Coral Springs, Fort Lauderdale and Hallandale are presently testing the locks. Commenting on the City's resolution and Chief Lamberti's statements, Frank Brooks, Chairman of Saf T Lok, explained, "The actions of the City of Hollywood may be far more significant for our Company than this single purchase. We hope that the acknowledgment by a law enforcement agency, that those who issue guns have a moral obligation to make those guns safer, will convince more law enforcement agencies, and ultimately gun manufacturers and dealers, to summon the courage to protect families from accidental shootings and unauthorized use of hand guns. We are encouraged by President Clinton's recent call to make this obligation a legal duty." The Company also announced that it has settled the lawsuit with former CEO Lisa Broderick. Ms. Broderick and her husband, Bruce Fogel, sued the Company in December 1996 for libel, slander and loss of consortium. The plaintiffs have agreed to dismiss all claims with prejudice in exchange for a payment of $50,000 and the issuance of warrants to purchase 110,000 shares of the Company's common stock for $.10 per share. The warrants are exercisable for a term of one year. 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 /CONTACT: Jacquie Cofer of Saf T Lok Incorporated, 561-478-5625/ /Web site: saf-t-lok.com (LOCK) Headlines Next Story -------------------------------------------------------------------------------- LOCK %LAW %LEG V%PRN P%PRN