Mace Security International Closes $6.7 Million Term Loan From Bank One, Texas N.A.

5 December 2000
Mace Security International Closes $6.7 Million Term Loan From Bank One, Texas N.A.
    MOUNT LAUREL, N.J., Dec. 5 Mace Security International,
Inc. (Mace) today announced that it has closed a $6.7 million
term loan from Bank One, Texas, N.A. (Bank One).  Bank One is a subsidiary of
Bank One Corporation, which is the nation's fourth largest bank holding
company with total assets of more than $272 billion.
    The three year secured term loan, which has a monthly payment based on a
15 year amortization schedule, provides for the refinancing of certain of
Mace's existing short-term debt totaling approximately $4.2 million associated
with the purchase of Eager Beaver Car Wash and Red Baron Truck Wash.  The loan
also provides for the purchase of the currently leased Beneva Car Wash
property for approximately $.8 million, and provides approximately $1.6
million of additional funding, net of loan closing costs, for capital
improvements and working capital.
    Louis D. Paolino, Jr., Chief Executive Officer and Chairman of Mace, said,
"We have now refinanced a majority of the Company's short term debt
maturities.  In addition, we have increased our working capital to support our
on-going internal growth efforts."  He added, "The terms of the financing are
very favorable, and we are pleased to continue our strong working relationship
with Bank One.  Their continued support demonstrates a substantial vote of
confidence in our management team."
    Eager Beaver consists of five car washes in Sarasota, Bradenton and Fort
Myers, Florida.  The Eager Beaver transaction closed in August 1999.  Red
Baron Truck Wash consists of a total of five truck washes in Arizona, Indiana,
Ohio and Texas.  The Red Baron transaction closed in March 2000.  Beneva is a
single car wash in Sarasota, Florida.  The Beneva Car Wash transaction closed
in June 2000.  Beneva was immediately integrated into Mace's Florida Region
with the Eager Beaver car wash chain.
    Bank One, Texas, N.A., a subsidiary of Bank One Corporation, provides
financial services to Texas consumers, small businesses, middle-market
companies and large corporate customers in Austin, Dallas, Fort Worth,
Houston, San Antonio and 61 other communities.
    Mace Security International, Inc. is a provider of car care services,
which owns and operates numerous car washes nationwide.  Additionally, Mace is
a leading producer of less lethal defense sprays for the consumer market.

    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", "intends 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, lack of capital, the effects of weather on the
demand for car care services, the affects of rapid growth upon the Company and
the ability of management to effectively respond to the growth, its ability to
achieve operating synergies, its ability to compete, regulatory matters, the
effects of competition, its ability to maintain the control of the Company's
cash business, and the ability of the Company to obtain additional financing.
Such factors could materially adversely affect the Company's financial
performance and could cause the Company'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 in the Company's SEC filings, including its S-3
registration statements and 10-KSB for 1999.