Magal Announces Annual General Meeting Results YAHUD, Israel, July 29 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ NM: MAGS; TASE: MAGS), announced today that at the Annual General Meeting of Shareholders that took place today, an interim cash dividend in the amount of $0.05 per ordinary share, that was paid to shareholders of record as of January 12, 2004, was approved and an additional 5% share dividend to shareholders of record as of July 29, 2004 was declared as a final dividend for the year ended December 31, 2003. The ex-dividend date for the 5% share dividend for the ordinary shares traded on the Nasdaq Stock Market is July 27, 2004 and on the TASE the ex-dividend date is August 1, 2004. The share dividend will be payable on August 9, 2004. At the same meeting, the following directors were re-elected to the board: Jacob Even-Ezra, Izhar Dekel, Nathan Kirsh, Jacob Nuss and Jacob Perry. In addition, Mr. Zeev Livne was elected as a director and Mr. Shaul Kobrinski and Ms. Anat Weiner were elected as external directors. The Company also announced that all other matters on the agenda on the notice of annual general meeting of shareholders were approved. 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, Romania, Mexico and an office in China. Revenues for fiscal year 2003 were US$59 million, with net income of US$2.4 million. Magal trades under the symbol MAGS in the U.S. on the Nasdaq National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001. 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. Contacts: Magal Security Systems, Ltd Gal Investor Relations Raya Asher, CFO Ehud Helft, Investor Relations Tel: +972-3-5391444 Tel: +1-866-704-6710 Fax: +972-3-5366245 Tel (Intl): +972-3-6074717 E-mail: E-mail: , DATASOURCE: Magal Security Systems Ltd. CONTACT: Contacts: Magal Security Systems, Ltd, Raya Asher, CFO, Tel: +972-3-5391444, Fax: +972-3-5366245, E-mail: ; Gal Investor Relations, Ehud Helft, Investor Relations, Tel: +1-866-704-6710, Tel (Intl): +972-3-6074717, E-mail: ,

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