Mace Security International's Board of Directors Purchase Mace Shares In the Open Market

Apr 30, 2001, 01:00 ET from Mace Security International

    MOUNT LAUREL, N.J., April 30 /PRNewswire/ -- Mace Security International,
 Inc. ("Mace") (Nasdaq:   MACE) today announced that members of the Board of
 Directors purchased shares of Mace common stock in the open market.
     Chairman and Chief Executive Officer of Mace, Louis D. Paolino, Jr., said,
 "At the current level of our stock price and the resulting market
 capitalization, the Board of Directors and I consider Mace to be significantly
 undervalued.  We believe that Mace is an excellent investment and will provide
 our stockholders with significant value on a long-term basis."  He added, "We
 recently reported that we expect a 12% increase in revenues, an 80% increase
 in EBITDA, and a profit in after-tax income and earnings per share for the
 first quarter of 2001.  In addition, our book value per share as of December
 31, 2000 was $2.47 per share.  Our decision to purchase these shares in the
 open market results from the belief that the market has undervalued our
     Mr. Paolino also said, "I am very pleased that my colleagues believe in
 the long-term growth of the Company.  All of these individuals already hold
 significant positions in Mace stock, and are very enthused with the current
 performance of the business.  The continued commitment by the major
 shareholders of Mace, coupled with the dedication of our management team and
 employees, strengthens our mission as a company and our presence in the
     Mace Security International, Inc. is a provider of car care services,
 which owns and operates car and truck washes nationwide.
     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 Form 10-KSB for 2000.
                      MAKE YOUR OPINION COUNT - Click Here

SOURCE Mace Security International