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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2004
MAGAL SECURITY SYSTEMS LTD.
(Name of Registrant)
P.O. Box 70, Industrial Zone, Yahud 56100 Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F __
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):__
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):__
Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes__ No X
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-___________
This Report on Form 6-K is incorporated by reference into the
Registrant's Form F-3 Registration Statement File No. 333-9050.
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Magal Security Systems Ltd.
1. Press Release re Magal Launches DreamBox - a New All-in-One CCTV
Security Solution dated March 30, 2004.
ITEM 1
Press Release Source: Magal Security Systems Ltd.
Magal Launches DreamBox - a New All-in-One CCTV Security Solution
Tuesday March 30, 7:05 am ET
YAHUD, Israel, March 30 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd.
(NASDAQ NM: MAGS; TASE: MAGS) today announced the launch of the DreamBox - a new
All-in-One CCTV security solution.
The DreamBox is a state-of-the-art embedded hardware and software product, which
integrates a number of CCTV related applications, into one box. The system is
designed to be economical, as well as compact to save space, whilst avoiding the
use of a complicated cable installation and network protocols integration.
DreamBox contains twelve different applications, including Digital Video and
Audio Recording, Video & Audio Matrix Switcher, Outdoor and Indoor Video Motion
Detection System (VMD), Security Management System (SMS) and Transmission
system.
The DreamBox is substantially lower in price than the cost of the other
products' applications combined, a factor, which positions DreamBox as the
ultimate security solution for all strategic facilities. Its target markets
include governmental, institutional and other sensitive facilities, such as
airports, train stations, seaports, prisons, casinos and hospitals, all of which
require the use of high quality CCTV applications.
Mr. Jacob Even-Ezra, Chairman of Magal said: "Magal identified the huge
potential of the fast growing digital CCTV market and developed the DreamBox,
which is a break-through in this area, by providing a unique "All- in-One"
solution.
By developing this product, Magal is entering a new area of activity. We refer
to the DreamBox's target market as an `add-on' market for Magal and believe that
this product is substantially broadening the Company's target markets. As an
example, we are entering the field of Digital Video Recording, which is only one
of the DreamBox's applications out of many."
Mr. Even-Ezra, added:" Seeing the potential of the DreamBox, Magal has decided
to establish a special division for this product and open a separate office in
the USA for marketing and support of the DreamBox".
Mr. Even-Ezra concluded: "DreamBox joins two other new products that Magal has
recently launched. These are the FORTIS Integrated Command and Control System
and the PIPEGUARD- a buried assets security system, which altogether
significantly widens the spectrum of security solutions we offer and
substantially broadens the potential security markets of Magal."
DreamBox will be presented for the first time at the ISC West 2004 Expo, which
will take place at the Sands Convention Center in Las Vegas, Nevada, on March 31
until April 2, 2004.
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing
and marketing of computerized security systems, which automatically detect,
locate and identify the nature of unauthorized intrusions. Magal also supplies
Video Monitoring Services through Smart Interactive Systems, Inc., a subsidiary
established in the US in June 2001. The Company's products are currently used in
more than 70 countries worldwide to protect national borders, airports,
correctional facilities, nuclear power stations and other sensitive facilities
from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in
the US, Canada, the UK, Germany, Mexico, Romania and an office in China.
Revenues for fiscal year 2003 were US$59.4 million, with net income of US$2.4
million.
Magal trades in the US on the NASDAQ National Market since 1993 and in Israel on
the Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the symbol
MAGS.
This press release contains forward-looking statements, which are subject to
risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and some of which
might not even be anticipated. Future events and actual results, financial and
otherwise, may differ from the results discussed in the forward-looking
statements. A number of these risks and other factors that might cause
differences, some of which could be material, along with additional discussion
of forward-looking statements, are set forth in the Company's Report on Form 8-K
filed with the Securities and Exchange Commission.
Contacts:
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-539-1444
Fax: +972-3-536-6245
E-mail: magalssl@trendline.co.il
Gal IR International
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
Int'l dial: +972-3-607-4717
E-mail: ehud.helft@galir.com
kenny.green@galir.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MAGAL SECURITY SYSTEMS LTD.
(Registrant)
By: /s/Jacob Even-Ezra
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Jacob Even-Ezra
Chairman of the Board and
Chief Executive Officer
Date: March 30, 2004