Elsafe Inks Agreement to Provide In-room Electronic Safes to Rezidor SAS Hospitality

LEKSVIK, NORWAY - (August 20, 2003) Elsafe International a.s., the world's leading supplier of electronic safes to the hospitality industry, has announced that a preferred supplier agreement has been finalized with Rezidor SAS Hospitality. This agreement makes Elsafe’s award-winning line of in-room electronic safes available to over 210 Rezidor-branded properties, currently in operation and under development in 40 countries around the globe. The Rezidor SAS portfolio comprises five brands, which include Radisson SAS, Park Inn, Country Inn, Regent, and their newest addition, Cerruti, a lifestyle brand that is a joint initiative with the international fashion house. With a majority of its properties in the 4- and 5-star category, Rezidor SAS has maintained a focus on upscale amenities and advanced security technology. As one of the fastest growing hospitality companies in the world, Rezidor SAS Hospitality plans to expand to 700 hotels by 2012.

”This agreement represents a firm commitment by Rezidor SAS to provide their guests with the best products available on the market today, ensuring both security and convenience at their properties worldwide.” said Alvin Berg, president of Elsafe a.s. ”Their corporate standards of excellence are mirrored by our own, making this a natural partnership designed to better serve Rezidor franchisees and guests around the world.”

Elsafe has been the premier supplier of safes to the hospitality industry since introducing the world’s first electronic in-room safe in 1979. Current Elsafe products include range from the affordable Sentinel Series to the highly advanced Infinity Collection. Recently, the company became the first safe manufacturer to pass the stringent UL break-in test. The company also was the first to successfully incorporate biometric access technology into an in-room safe. The Infinity Biometric safe was awarded the "Editor's Choice" Award for best new product at the 2001 International Hotel/Motel & Restaurant Show in New York.