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NATIONAL INDUSTRIAL SECURITY CORPORATION TERMINATES PROPOSED MERGER

 ST. LOUIS, Dec. 7 /PRNewswire/ -- National Industrial Security Corporation ("NISCO"), headquartered in St. Louis, today announced it has terminated its proposed merger with World Technology Group, Inc. ("WTG") of Annapolis, Md. The two parties entered into a Merger Agreement and Plan of Reorganization effective July 30, 1993, pursuant to which NISCO and WTG were to merge. NISCO is a publicly traded company operating a security guard service in the St. Louis metropolitan area. WTG is a private company which owns and operates several building contractor supply stores and distribution centers for steel products in Maryland, Delaware, Virginia and the District of Columbia.
 The proposed merger originally was scheduled to be completed on or before Oct. 31, 1993, but was subject to several conditions precedent, including shareholder and director approval by each of the corporations, completion of certain audited financial statements of WTG, satisfactory due diligence investigations by each of the companies and a requirement that WTG's net work equal or exceed $400,000 as of June 30, 1993. WTG did not satisfy the net worth requirement as of June 30, 1993, and continuing operating losses by WTG in recent months eroded WTG's financial position further so as to make it impossible to complete the merger as planned. Based on the failure of these conditions, NISCO has terminated the Merger Agreement. WTG is attempting to restructure its business and operations and, if WTG is successful in doing so, NISCO would consider further negotiation with WTG toward a new merger agreement.
 Pursuant to the terms of the terminated Merger Agreement, all operations of the two companies would have remained intact, with WTG shareholders receiving 80 percent of the merged company's common stock and NISCO shareholders receiving 20 percent of the merged company's common stock. NISCO's common stock currently trades in the over-the- counter market through the NASD Bulletin Board Quotation System. Max T. Jackson, president of NISCO, stated that the company will continue to look for suitable merger or acquisition candidates in its efforts to increase revenues and shareholder value.
 -0- 12/7/93
 /CONTACT: Max T. Jackson of NISCO, 314-962-1414/


CO: National Industrial Security Corporation; World Technology
 Group, Inc. ST: Missouri, Maryland IN: SU: TNM


GK-SP -- NY059 -- 1322 12/07/93 13:34 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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