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EXHIBIT B
ULTRAK
FOR IMMEDIATE RELEASE
For more information, please contact:
Arianne Wiese
Ultrak, Inc.
972-353-6651
[email protected]
ULTRAK CONGRATULATES DETECTION SYSTEMS
ON BOSCH ACQUISITION AGREEMENT
Lewisville, Texas - December 11, 2000 - Ultrak, Inc. (Nasdaq: ULTK) today
congratulated Detection Systems, Inc. on its announcement that it has signed a
definitive agreement to be acquired by Robert Bosch GmbH for $18 per share in
cash. Reacting to this morning's announcement, George Broady, Chairman and CEO
of Ultrak, said: "We view this announcement as a victory for all Detection
Systems shareholders and for shareholder democracy. It has been clear to us that
the world is changing and that Detection Systems needed to align itself with a
larger company. We're gratified that our efforts over the last year and a half
can come to a rest with such a positive result for all."
Ultrak also announced that it has suspended its solicitation of proxies for
the Detection Systems 2000 Annual Meeting of Shareholders in light of the
announced transaction and the delay of that meeting by Detection Systems. Mr.
Broady commented: "We'd like to see this transaction close without a hitch -- an
agreement like this was the precise point of our proxy contest. We agree with
the decision to delay the Annual Meeting in light of the overriding need for
management to focus on closing the transaction and to ensure a smooth transition
of the company's ownership to Bosch. We think this is a great victory as well
for Detection Systems' employees, who will now be supported by one of the great
companies of the world. We applaud Karl Kostusiak, David Lederer and the rest of
Detection Systems' Board of Directors for engineering a win-win situation."
Ultrak is a publicly-held corporation that designs, manufactures, markets
and services innovative electronic products and systems for the security and
surveillance, industrial and medical video, and professional audio markets. The
Company sells its products to distributors, dealers, system integrators,
retailers and mass-merchants (for resale). Headquartered in Lewisville (Dallas),
Texas, Ultrak has multiple facilities throughout the United States, Europe, Asia
and South Africa. Enterprise Security Solutions (ESS) from Ultrak set new
standards in quality, performance and value for large organizations interested
in protecting their assets and improving operating efficiency. Access control,
CCTV, alarm management, and public address functions are integrated and
optimized. Existing telecommunications and IT infrastructures are leveraged to
best advantage, security operations simplified and system life-cycle costs
reduced. And, in progressive organizations, ESS functions like remote video
surveillance are utilized to achieve improvements in operating efficiency and
support the bottom-line mission of the enterprise.
Except for the historical information contained herein, the matters
discussed in this news release may contain forward-looking statements that
involve risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements, including other risks
detailed from time to time in the Company's SEC reports, including its Annual
Report on Form 10-K for the year ended December 31, 1999 and quarterly reports
on Form 10-Q for the quarters ended March 31, 2000, June 30, 2000 and September
30, 2000.
