ATLANTA, March 18 /PRNewswire-FirstCall/ -- Tri-S Security Corp. (Nasdaq: TRIS), (the "Company") provider of security services and equipment for government and private entities, is pleased to announce that the Company has entered into a Joint Stipulation of Settlement and Release (the "Settlement Agreement") with respect to the previously-disclosed class action complaint filed against the Company, its Chief Executive Officer, its former Chief Financial Officer and the lead underwriters in its initial public offering, alleging, among other things, certain violations of the Securities Act of 1933 in connection with its initial public offering.

Under the terms of the Settlement Agreement and the court's order granting preliminary approval of the Settlement Agreement, the Company (on behalf of all defendants) shall make a cash settlement payment of $1 million no later than March 20, 2009, in return for a release and dismissal with prejudice of all claims against the Company and the other defendants. The Company's insurance carrier and insurance broker have jointly agreed to fund the entirety of the cash settlement payment.

The Settlement Agreement is subject to the satisfaction of certain conditions, including, without limitation, the entry by the court of a final order approving the Settlement Agreement. If such final approval is not obtained, then the Settlement Agreement will become null and void.

"We are particularly pleased that we have been able to reach a settlement regarding this matter, thus enabling us to fully concentrate on running the business for the advantage of all our stakeholders," said Ron Farrell, Chairman and CEO of the Company.

About Tri-S Security Corp.

Based in Atlanta, GA, Tri-S Security Corp. (NASDAQ: TRIS) is a provider of security services and equipment for government and private entities. Security services include uniformed guards, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. Tri-S Security assumes responsibility for the marketing, infrastructure and overall operational performance for its subsidiaries. Tri-S Security's management leverages highly trained government officers, experienced industry leaders, proven financial executives and infrastructure experts to consolidate the fragmented security industry into one efficient and effective security force.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Federal securities laws. Forward-looking statements are commonly identified by such terms and phrases as "should," "expects," "plans," "anticipates," "believes," "estimates," "projects" and other terms with similar meaning indicating potential impact on our business. Although we believe that the assumptions upon which such forward looking statements are based are reasonable, we can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from our projections and expectations are disclosed in our filings with the Securities and Exchange Commission, including the "Risk Factors" section set forth in our Annual Report on Form 10-K for the year ended December 31, 2007, and our Quarterly Reports on Form 10-Q filed subsequent thereto. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to their underlying assumptions. We do not undertake to publicly update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise. You may obtain and review our filings with the Securities and Exchange Commissions by visiting http://www.sec.gov.

SOURCE Tri-S Security Corp.