Allied Security Innovations Reduces and Restructures Debt

Tue Mar 23, 2010 9:40am EDT

* Reuters is not responsible for the content in this press release.

  FARMINGDALE, NJ, Mar 23 (MARKET WIRE) -- 
Allied Security Innovations (OTCBB: ADSV), owner of CGM-AST, a leading
manufacturer of tamper-evident security products, announced a
restructuring and reduction of its debt.

    "The reduction in our debt markedly improves our balance sheet," stated
Anthony Shupin, CEO. "We are pleased with the cooperation of our
investors to accomplish this. Restructuring the debt in this manner
allows a more accurate picture of the viability of our company to our
shareholders." 

    "The amount of our long term convertible debentures will be decreased by
approximately eight million dollars ($8,000,000.00)," explains Michael
Pellegrino, CFO. "We believe this significant reduction more properly
reflects the capitalization and financial position of the Company."

    Allied Security Innovations, Inc. and its CGM-AST subsidiary design,
manufacture and distribute products to secure unattended assets, and
provide authentication and identification techniques throughout the
supply chain. A recognized leader in Tamper Evident Security devices,
CGM-AST produces SECURE T.R.A.C.(R) pressure sensitive labels and tapes,
ToppClip(R) pallet security systems, and has just announced Stretch Wrap
SecureCopyright, Crate SecureCopyright and Carton SecureCopyright,
innovative new products for use on stretch film, packaging crates and
recycled cardboard packaging. 

    For more information on how Allied Security Innovations tamper-evident
products may be incorporated into security systems, call 800-899-2246 or
International please contact Gina Levinson +732-751-1044. 

    About Allied Security Innovations, Inc.
 The company, based in
Farmingdale, NJ, develops and markets integrated enterprise-wide image
applications specifically designed for criminal justice organizations.
Customers include states, cities, counties, corrections, justice, and
public safety agencies. Additional information is available online, at
www.ddsi-cpc.com.

    Its subsidiary, CGM Applied Security Technologies, Inc., with locations
in Farmingdale, NJ and a factory in Staten Island, NY, is a leading
manufacturer and distributor of Homeland Security products, including
indicative and barrier security seals, security tapes and related
packaging security systems, protective security products for palletized
cargo, physical security systems for tractors, trailers and containers,
as well as a number of highly specialized authentication products.
Additional information is available online, at www.cgm-ast.com. 

    Safe Harbor Statement:
 Safe Harbor Statement Under the Private
Securities Litigation Act of 1995 -- With the exception of historical
information, the matters discussed in this press release are
forward-looking statements that involve a number of risks and
uncertainties. The actual future results of the Company could differ
significantly from those statements. Factors that could cause actual
results to differ materially include risks and uncertainties such as the
inability to finance the company's operations or expansion, inability to
hire and retain qualified personnel, changes in the general economic
climate, including rising interest rate and unanticipated events such as
terrorist activities. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "expect,"
"plan," "anticipate," "believe," "estimate," "predict," "potential" or
"continue," the negative of such terms, or other comparable terminology.
These statements are only predictions. Although we believe that the
expectations reflected in the forward-looking statements are reasonable,
such statements should not be regarded as a representation by the
Company, or any other person, that such forward-looking statements will
be achieved. We undertake no duty to update any of the forward-looking
statements, whether as a result of new information, future events or
otherwise. In light of the foregoing, readers are cautioned not to place
undue reliance on such forward-looking statements. For further risk
factors associated with our Company, review our SEC filings.

    

Contact Investor Relations
Michael Pellegrino 732-751-1115 

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