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CHECKPOINT TAKES OPTION TO PURCHASE SHARE CAPITAL, SUBORDINATED DEBT OF DUTCH COMPANIES

 THOROFARE, N.J., May 3 /PRNewswire/ -- Checkpoint Systems, Inc. (NASDAQ: CHEK) today reported that it had obtained an option to purchase the entire share capital and subordinated debt of ID Systems International B.V. and ID Systems Europe B.V., related Dutch companies engaged in the manufacture, distribution and sale of security products and services, in return for the provision of interim financing for the companies. ID Systems International and ID Systems Europe are the subject of suspension of payments proceedings in the Netherlands. Consummation of any transaction is subject to satisfactory resolution of various contingencies, including renegotiation of indebtedness with a number of creditors and resolution of claims and litigation, as well as completion of due diligence by Checkpoint.
 The ID Systems group had consolidated sales of approximately $20 million for the fiscal year 1992.
 Checkpoint Systems, Inc., is the leading developer and manufacturer of advanced microprocessor and radio frequency-based merchandising and security systems. The company bases its Electronic Article Merchandising(R) (EAM(R)) and Electronic Access Control (EAC) systems on Electronic Signatures(R) technology which makes unique radio signals assignable to items or people. Using detectable, paper thin, disposable circuits that can be activated or deactivated without contact, the company has more than 70,000 EAM systems installed worldwide. Checkpoint's Threshold EAC systems employ proximity technology for personnel identification in security sensitive environments to control and monitor access to locations and equipment.
 -0- 5/3/93
 /CONTACT: Kevin Dowd of Checkpoint Systems, 800-257-5540, ext. 2407/
 (CHEK)


CO: Checkpoint Systems, Inc. ST: New Jersey IN: SU:

LR-PS -- NY045 -- 3722 05/03/93 11:03 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:266
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