Allied Research Corporation Announces New Contracts for Its VSK Group With the European Commission.Business Editors/Hi-Tech & Defense Writers VIENNA, Va.--(BUSINESS WIRE)--April 28, 2000 Allied Research Corporation (AMEX AMEX See: American Stock Exchange : ALR ALR Administrative License Revocation ALR Agricultural Land Reserve (Canada) ALR Automatic Locking Retractor (seat belts) ALR Australian Law Reports (University of Tasmania Library) ), a diversified defense and commercial electronics security firm, announced today that its Belgian subsidiary, VSK VSK Verband Schweizerischer Kaderschulen (German: Federation of Swiss Cadre Schools) VSK Voice over Broadband Starter Kit VSK Virtual Storage Key VSK Vision Starter Kit Group, had received several new contracts in the past few weeks from the European Commission. W. Glenn Yarborough yar·bor·ough n. Games A bridge or whist hand containing no honor cards. [After Charles Anderson Worsley, Second Earl of Yarborough , Jr., President & Chief Executive Officer of Allied Research, stated that he was delighted to see continued growth in its electronic security business sector. These new contracts have moved VSK into new areas of security services and into more profitable service agreements. VIGITEC, the Brussels based closed circuit television company (CCTV CCTV abbr. closed-circuit television CCTV closed-circuit television ) firm acquired by The VSK Group in December 1999, was awarded a contract for the installation and maintenance of CCTV monitoring systems in 39 of the European Commission's key facilities in Brussels. This award will add substantially to the several hundred VIGITEC cameras already in use throughout the government agency. VSK currently provides fire detection and integrated security systems in the European Parliament's main facility. This new order adds recurring revenues of $200,000 per year. Allied Research Corporation is a defense and commercial electronic security firm. Its operating units develop and produce ammunition. In addition, they design, produce and market sophisticated electronic security and access control systems. Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission. |
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