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The U.S. Social Security Awards a $220MM Contract to Tri-S Security Subsidiary (TRIS)

Paragon Systems (Tri-S Security subsidiary) announced that it has been awarded a $220MM contract from the US Social Security Administration. Beginning April 1, 2008 the contract will run over a ten year period. Located in Woodlawn, MD, approximately 500 guards, supervisors and administrative personnel will be assigned to the national headquarters of the US Social Security Administration and the national computer center.

Paragon Systems was chosen out of more than 25 other competing companies for this contract. “We are very pleased to be the sole company selected by the US Social Security Administration for this contract. This selection demonstrates the depth and experience of our management team and the high level of service that our company provides,” said Ronald Farrell, President of Tri-S Security subsidiary Paragon Systems.

In addition to the Social Security contract, Paragon Systems also received a contract, in January 2008 from the State of Georgia for $58 million to run for a five-year period beginning April 1st. The two new contracts will add a total in future revenue of about $287 million to the existing revenue base.

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