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SECURITY ENVIRONMENTAL SYSTEMS ANNOUNCES FINAL SETTLEMENT OF SHAREHOLDER LAWSUIT

 GARDEN GROVE, Calif., March 3 /PRNewswire/ -- Security Environmental Systems (NASDAQ: SENV) announced today that the chancery court of Delaware approved the terms of a settlement of a shareholder lawsuit brought against the company and certain of its officers in March 1992. As previously disclosed, as part of the settlement the plaintiffs will abandon their threatened proxy contest and will vote in favor of a board of directors nominated by management and in favor of certain management proposals to be resubmitted to shareholders for approval. The settlement also provides that Security Environmental Systems will pay plaintiffs' legal fees and other costs related to the action, and that one plaintiff will be retained as a financial consultant to SES for approximately seven years. The settlement also provides for the cancellation of certain shares issued to SES officers and directors.
 By May 18, 1993, the company will schedule an annual meeting of shareholders to vote on the election of directors, a reverse stock split and other corporate matters.
 Security Environmental Systems, founded in 1972, disposes of biomedical waste by incineration and steam sterilization and conducts interstate transportation of hazardous waste. The company operates from facilities in Garden Grove, Vernon and Long Beach, Calif. Most recently, the company has expanded into Albuquerque, N.M.
 -0- 3/3/93
 /CONTACT: Stephen I. Grossman of Security Environmental Systems, 213-262-3722; or William F. Coffin of Coffin Communications Group, 818-789-0300, for Security Environmental Systems/
 (SENV)


CO: Security Environmental Systems ST: California IN: ENV SU:

MS-BP -- LA034 -- 2618 03/03/93 16:22 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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