Command Security Corp. announces: renewal of CIT loan agreement, payment of note to ISS, and sale of Miami operations.

LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--Feb. 7, 1997--Command Security Corp. (NASDAQ:CMMD) announced Friday that it has completed an agreement with The CIT Group/Credit Finance Inc. ("CIT") for a two year renewal of its existing Loan Agreement.

The terms of the agreement provide for a reduction of 1/2 of 1 percent in the interest rate on the revolving credit line, a new 5 year, $500,000 term loan at the same rate, an increase in the borrowing rate of eligible accounts receivable to 85% from 82.5% and a number of other items which will reduce the costs and increase the availability of funds compared to the existing agreement.

William C. Vassell, chairman of the board of Command, said, "We are pleased with the terms of this new agreement with CIT as it provides us with additional borrowing capacity at reduced costs."

Command also announced that it has made the final $400,000 payment to ISS International Service System Inc. (ISS) in connection with its October 1993 acquisition of certain security guard assets. ISS will return to Command the 238,000 shares of common stock which had been issued to them to secure this note. These shares will be retired reducing the number of outstanding shares.

Command also reported that it has concluded the sale of its Miami operations, terms were not disclosed. Commenting on the sale, Vassell said, "Although the Miami operation was generating about $1 million in revenues it was not profitable and did not fit into our current plans."

Command Security Corp. provides security services through company owned offices in New York, New Jersey, California, Illinois and Connecticut and provides back-office service agreements to independent security companies nationwide.

CONTACT: Command Security Corp.

William C. Vassell, Chairman of the Board

914/454-3703

or

H. Richard Dickinson, Chief Financial Officer

212/689-6565

or

Radcliffe & Associates Inc.

Donald Radcliffe, 212/605-0174