Mace Sells Three Car Washes in Pennsylvania and One Car Wash in New Jersey for Approximately $7.7 Million

MOUNT LAUREL, N.J.--Mace Security International, Inc. (“Mace”) , a manufacturer of electronic surveillance and personal defense products and an owner and operator of car and truck wash facilities, today announced that it closed two separate transactions to sell three car washes in Pennsylvania and one car wash in New Jersey for a total of approximately $7.7 million in cash. These four locations represent all of Mace’s full service car washes in the Northeast. They are located in Bryn Mawr, Norristown, and Flourtown, Pennsylvania and Cherry Hill, New Jersey. Mace continues to own and operate exterior-only car washes in its Northeast region. Mace’s remaining Northeast car washes are for sale.

The operating assets of these four car washes were sold at a price approximately $1.5 million above their current net book value of approximately $6.2 million. Three of the car washes were owned and one was leased (Bryn Mawr). These car washes had no mortgage debt, and Mace will retain all of the net cash proceeds from the sale. Mace intends to use the proceeds of the transaction for working capital.

These transactions are a step forward in Mace’s goal to sell its car washes and invest in its Security Segment.

Parties interested in purchasing any of Mace’s remaining car washes should contact Mace directly at its corporate headquarters at 856-778-2300.

Mace Security International, Inc. is a manufacturer of electronic surveillance and personal defense products, and an owner and operator of car and truck wash facilities. Information about Mace and becoming a Mace Authorized Dealer is available at www.mace.com. The Company’s consumer e-commerce web site is www.macecatalog.com.

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result”, “are expected to”, “will continue”, “is anticipated”, “estimate”, “projected”, “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, dilution to shareholders, limited capital resources, the effects of weather on the demand for car care services, the effects of rapid growth on Mace and the ability of management to effectively respond to that growth, our ability to achieve operating synergies, our ability to compete against established competitors, regulatory matters, the effects of competition, and our ability to obtain additional financing. Such factors could materially adversely affect Mace’s financial performance and could cause Mace’s actual results for future periods to differ materially from any opinions or statements expressed within this press release. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations are contained under the heading “Risk Factors” in Mace’s SEC filings, including its registration statements and its periodic reports on Form 10-K and Form 10-Q. This press release should be read in conjunction with the financial statements and notes contained in Mace’s annual reports on Form 10-K and quarterly reports on Form 10-Q.