Reliance Security Group PLC
4 September 2000
RELIANCE SECURITY GROUP PLC
The Board of Reliance Security Group plc ('Reliance') is pleased to announce
their investment and participation in a new company to provide specialist
electronic and physical security to the unoccupied or void property market.
Reliance will own 19% of the new company, Safe Estates Services Limited, and
has options to acquire the balance, currently owned by the management team
lead by Gideon Israel and Paul Strasburger. Mr Israel, Mr Strasburger and
their colleagues have extensive experience in this highly specialist and
growing market having successfully developed and sold a leading provider.
Reliance's investment in the company, including the provision of initial
working capital comprises £400,000, of which it's equity stake is 19%.
Reliance Chairman, Brian Kingham said: 'We are delighted to be embarking on
this partnership of talents. The Reliance brand, market position, customer
base and nationwide Patrol Net mobile operation provides incomparable strength
to the new company giving it a head start on its few competitors. With the
very latest in technology Safe Estates brings something new and special to
this growing niche market.'
Contact : Geoff Haslehurst, Group Finance Director 01895 205 000.
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