Business Services Industry
ICTS International N.V.; Certain ICTS Directors under Investigation by Israeli Securities Authority with Respect to an Unrelated Company
Business Wire, May 30, 2003
Business Editors
AMSTELVEEN, Netherlands--(BUSINESS WIRE)--May 30, 2003
ICTS International N. V. (NASDAQ: ICTS), a leading provider of advanced aviation services, today reported that on Sunday, May 25, 2003, Mr. Ezra Harel, the Chairman of ICTS International N.V. was detained and subsequently released on bail in Israel by the investigative authorities of the Israeli Securities Authority in connection with a criminal investigation under Israeli law involving an unrelated company in which Mr. Harel was a former director and controlling shareholder.
Mr. Menachem Atzmon, a director of ICTS International N.V. was also detained and subsequently released on bail in the same matter. Mr. Atzmon may be deemed a former controlling shareholder of the unrelated company. The substance of the Israeli Securities Authority's questioning of Mr. Harel and Mr. Atzmon is not known, since a gag order is in effect in connection with the investigation.
Mr. Lior Zouker, the President of ICTS stated that "ICTS has no indication that the investigation involves ICTS."
About ICTS
ICTS is a world leader in the field of aviation security services and solutions in high-risk environments. ICTS designs, customizes and implements large-scale security systems for airlines and airports; utilizes its know how and expertise to develop and assimilate innovative integrative and modular technological solutions targeting primarily the aviation security market; designs and provides the aviation industry with various computerized and non-computerized certified training programs.
ICTS' activities include aviation security services such as passenger data analysis, airport checkpoints, air travel passengers documents verification and consulting and training to airports and airlines, as well as the development of unique technological solutions to meet today's increased security threats. ICTS has introduced to the market its innovative technological products, such as: the FAA-certified APS Advanced Passenger Data Analysis computerized system; the IP@SS Integrated Passenger Security Solutions, which enhances security and accelerates passenger processing; ICTS' APIS (Advanced Passenger Information System), a state of the art scanning technology that enables existing scanners to automatically extract from travel documents the data required by U.S Customs at an exceptionally high level of accuracy; Traveldoc J, a computerized system that integrates sophisticated scanning technologies and data-analysis systems and enables the automatic verification of the authenticity of a passengers' travel documentation as well as its compliance with the requirements of his country of destination.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company's actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements.
The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events.
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