Statement by Mace Security International, Inc.
3 January 2000
Statement by Mace Security International, Inc.MOUNT LAUREL, N.J., Jan. 3 -- Mace Security International, Inc. (Mace) announced today that its Chief Executive Officer, Louis D. Paolino, Jr., its Chief Financial Officer, Gregory Krzemien, its General Counsel, Robert Kramer and its Chief Accounting Officer, Ronald Pirollo, have been sued by Waste Management, Inc. Mace is not a party to the suit filed by Waste Management, Inc., and is not involved in the matters at issue in the suit. Mr. Paolino and the other defendants have stated unequivocally that the lawsuit is groundless and without merit. Mr. Paolino and the other officers intend to defend themselves vigorously and are confident that they will prevail in court. On December 31, 1999, Mr. Paolino and the other officers filed suit against Waste Management, Inc. Mace Security International, Inc. is a provider of car care services which owns and operates numerous car washes nationwide. The Company is also a leading producer of less lethal defense sprays for the consumer market and a marketer of consumer safety and security products. This press release includes statements which may constitute forward- looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties, including but not limitation, risks relating to the financial outcomes of the planned business and growth strategies, that could cause actual results to differ materially from the forward-looking statements. Although the Company believes that the expectations reflected in such forward- looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.