SURETRACK MONITORING PLC - IBP signs contract to supply a major high-street bank

Aug 18, 2009 (PR Newswire Europe via COMTEX) -- IBP | Quote | Chart | News | PowerRating -- e>IBP SIGNS CONTRACT TO SUPPLY EQUIPMENT TO A MAJOR HIGH STREET BANK - OTHER SIGNIFICANT CONTRACTS IN THE PIPELINE Suretrack Monitoring Plc ("Suretrack" or the "Company") one of the leading UK based asset security tracking businesses announces that its subsidiary IBP-Group Limited ("IBP"), a specialist in deterring and reducing the incidence of robbery, primarily relating to cash, has entered into a contract to supply a major High Street Bank. Based on order figures to date this contract is worth approximately GBP120,000, to update the security package for up to one hundred and ninety-five branches which are being re-branded following a recent takeover. The initial supply is for approximately forty-eight branches during which time it will be rolled forward until all the new branches have been updated. IBP works closely with UK and European financial institutions, retailers and leading cash-in-transit companies. This new contract will take in the region of four months to complete with some eight to nine branches being completed per week. In addition to this refurbishment/installation contract IBP has been asked to tender for the servicing of the security systems when the current contract, held by another provider, is due for renewal in September. Will Hirons, Chief Executive of Suretrack, stated: "Since we acquired IBP in March this year the company has gone from strength to strength winning new contracts in the UK, developing a European distributor network and winning new mandates throughout the EC as a result. IBP services the requirements of a number of High Street and household names as clients and this latest contract demonstrates the continued quality of the IBP offer. Many clients now have a major presence in Europe and even Worldwide. We are confident that, in time, we can extend the company's services to accommodate their global security needs." In addition to this new contract Suretrack's client base continues to grow. In the current economic climate, the requirement for security on expensive moveable assets has increased massively. In terms of trading some of the highlights for 2009, not previously announced, are: * Renewals from January to July 2009 compared to the same period last year have increased by 34%. Renewals provide Suretrack with an upfront yearly payment for its monitoring services. * Since the Suretrack MT2 tracking system was introduced in September 2008 recovery rates in 2009 have so far been 91% when a finder was assigned to a recovery, compared to the previous year which had a recovery rate of 83%. So far this year the directors consider that Suretrack has recovered in the region of GBP450,000 in assets. Mr Hirons added, "The business has had an excellent first half in 2009 and we have another exciting quarter ahead. We are currently involved in discussions with a major hire company to include in its Terms of Business that customers use Suretrack's tracking and monitoring system. Contractual negotiations are also being undertaken with a major infrastructure company, which could result in an initial 640 units being supplied in the next three months. And, lastly, we have been approached by an insurance company, whereby their customers could receive a discount in their insurance premium if they use our product in their carhire company fleets." The Directors of Suretrack Monitoring plc accept responsibility for this announcement. 18 August 2009 For further information contact: Suretrack Monitoring Plc Tel: 01926 863630 Will Hirons, Chief Executive Bridge Hall Stockbrokers Ltd Tel: 020 7337 9705 Alex Benger, Corporate Finance Lothbury Financial Tel: 020 7011 9411 Michael Padley/Simon Astley END

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