BURNABY, B.C. Oct. 8, 2002 (PRIMEZONE) -- Viscount Systems Inc. (OTCBB:VSYS) President and CEO Stephen Pineau is pleased to announce that the Company has signed an agreement with Paladin Sales Group of Melville, N.Y. to represent its products throughout New England and the Mid-Atlantic States. Under the terms of the agreement Paladin will promote Viscount products with dealers, distributors and end-users of security products.
"The agreement with Paladin is extremely strategic both for our existing product lines as well as for our new MESH product," explained Mr. Pineau. "Paladin is located in Melville, New York, which also happens to be the headquarters for ADI, the largest security distributor in North America and a subsidiary of Honeywell. ADI has upcoming trade expos in New York, Philadelphia and Washington, D.C., and we will be looking to use Paladin to display Viscount products at these events. Many of our new products -- such as Emerphone and Enterchek II -- are distribution-oriented so the proximity of Paladin will make the introduction of these products that much easier.
"In the meantime we have a large customer base in the region and our sales will definitely improve as a result of having Paladin as our representatives. Paladin is very strong in CCTV with major lines such as Samsung so we also expect to be able to use their contacts in the market to expand our dealer network.
"Paladin also has an office just outside Washington, D.C. and this will be instrumental in promoting our MESH system to the U.S. Government," continued Mr. Pineau. "Many of the consultants who have expressed interest in specifying MESH for industrial, institutional and military uses are located in the area so the local representation will be very beneficial."
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 an 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 more than 30 countries and are sold through a 500-member, North America-wide dealer network comprised of security equipment vendors, including affiliates of Tyco/ADT and Honeywell. Additional information on Viscount's products may be obtained on-line at http://www.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 1-866-252-9446.
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.
For more information contact Konstantine Tsakumis Greg Werbowski Viscount Systems, Inc. Investor Relations Toll Free 1-866-252-9446 ir@viscount.com or visit: http://www.viscount.com