Magal Security Systems Ltd. Completes $16.3 Million Equity Placement YAHUD, Israel, April 19 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. ("Magal") (NASDAQ:MAGS)(TASE:MAGS) announced that yesterday, after the market was closed, it completed its previously announced registered direct offering of 1,700,000 ordinary shares. The ordinary shares were sold to unaffiliated institutional investors at a purchase price of $9.50 per share and to affiliated investors at a purchase price of $9.92 per share (the closing price of the ordinary shares on the Nasdaq National Market on April 14, 2005) for aggregate gross proceeds of approximately $16.3 million. The affiliated investors that purchased 425,000 shares, are Jacob Even-Ezra, Magal's Chairman of the Board and Chief Executive Officer and Nathan Kirsh, a member of the Board of Directors of the Company and a trustee of the Eurona Foundation that controls Mira Mag Inc, a major shareholder of Magal. Lehman Brothers Inc. acted as the exclusive placement agent for the offering. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission. A prospectus supplement and prospectus relating to this transaction may be obtained directly from the company at http://www.magal-ssl.com/ or from the U.S. Securities and Exchange Commission at http://www.sec.gov/. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. 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 U.S. 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 U.S., Canada, the U.K., Germany, Mexico, Romania and an office in China. Magal has been traded in the U.S. on the NASDAQ National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001 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 Annual Report on Form 20-F filed with the Securities and Exchange Commission. Contact: Magal Security Systems Ltd. Roi Levy Tel: +972-3-539-1444 Fax: +972-3-536-6245 E-mail: OR GK International Ehud Helft/Kenny Green Tel: +1-866-704-6710 Int'l dial: +972-3-607-4717 E-mail: DATASOURCE: Magal Security Systems Ltd. CONTACT: Contact: Magal Security Systems Ltd., Roi Levy, Tel: +972-3-539-1444, Fax: +972-3-536-6245, E-mail: , OR GK International, Ehud Helft/Kenny Green, Tel: +1-866-704-6710, Int'l dial: +972-3-607-4717, E-mail: ,

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