Mace Security Announces Engagement of Grant Thornton, LLP
17 January 2000
Mace Security International Announces Engagement of Grant Thornton, LLP As Independent AuditorsMOUNT LAUREL, N.J., Jan. 17 -- Mace Security International, Inc. (Mace) announced today that it has engaged Grant Thornton, LLP as its new independent auditors. Grant Thornton, LLP, which was established in 1924, is an international accounting and management consulting firm serving clients from over 550 offices in 90 countries. In addition, Grant Thornton is the sixth largest accounting, tax and management consulting firm in the United States, and employs more than 3000 professionals in 48 domestic offices. Louis D. Paolino, Jr., CEO and Chairman of MSI, said, "We are very pleased to have found such a solid and diversified firm to assist MSI's strategic plan of growth in the car wash business. Grant Thornton's worldwide reputation in working with fast-growing entrepreneurial companies, along with their significant SEC reporting and public company practice, is very impressive. We look forward to working with their professionals as we focus on reporting MSI's first profitable year since its initial public offering in 1993." On January 10, 2000, Ernst & Young, LLP resigned as MSI's independent auditors as a result of a business conflict, which Ernst & Young determined they had between MSI and another client of Ernst & Young. Ernst & Young has served as the independent auditors of MSI since May 1999. 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. Contact: Eduardo Nieves, Jr., Investor Relations, 856-778-2300