Mace Announces Authorization of Stock Buy Back Plan of up to $3.0 Million Dollars of Its Common Stock and Announces Sale of NJ-Based Car Wash

Business Wire, July 30, 2004

MOUNT LAUREL, N. J. -- Mace Security International, Inc. ("Mace") (Nasdaq:MACE), a manufacturer of electronic surveillance and personal defense products and an owner and operator of car and truck wash facilities, today announced that its Board of Directors authorized a Stock Buy Back Plan to purchase shares of the Company's common stock up to a maximum value of $3.0 million. Purchases will be made in the open market, if and when management determines to effect purchases. Management may elect not to make purchases or make purchases less than $3.0 million in amount.

At the current level of Mace's stock price and the resulting market capitalization, the Board of Directors consider Mace to be undervalued. Mace's stock price is currently trading under its book value per share as of March 31, 2004 of $4.36.

The Company also announced that it signed a definitive agreement to sell an exterior-only car wash in southern New Jersey for approximately $650,000. The selling price of the car wash is approximately $20,000 above its recorded book value. The decision to sell this car wash was made as a result of receiving an offer that management thought was attractive given the marginal profit generated by the site.

Mace Security International, Inc. is a manufacturer of electronic surveillance and personal defense products, and an owner and operator of car and truck wash facilities. Information about Mace is available at www.mace.com.

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "projected", "intend to" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, dilution to shareholders, limited capital resources, the effects of weather on the demand for car care services, the effects of rapid growth on Mace and the ability of management to effectively respond to that growth, our ability to achieve operating synergies, our ability to compete against established competitors, regulatory matters, the effects of competition, and our ability to obtain additional financing. Such factors could materially adversely affect Mace's financial performance and could cause Mace's actual results for future periods to differ materially from any opinions or statements expressed within this press release. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations are contained under the heading "Risk Factors" in Mace's SEC filings, including its registration statements, and its periodic reports on Form 10-K and Form 10-Q. This press release should be read in conjunction with the financial statements and notes contained in Mace's annual reports on Form 10-K and quarterly reports on Form 10-Q.