Magal Security Systems Ltd. Announces Payment of Interim Dividend - An interim dividend of 5 cents per share was approved by the Company's Board of Directors - YAHUD, Israel, Dec. 30 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. , announced today that in a meeting held on December 28, 2003 the Board of Directors of the Company, declared an interim dividend of $0.05 per share for the year 2003. A withholding tax at source of 18.07% will be withheld. Accordingly, each holder of an ordinary share of Magal will receive a cash dividend of $0.041 per share. The record date for the distribution of the dividend will be January 12, 2004 at 5:00 p.m. New York time and the payment date will be January 27, 2004. About Magal Security Systems Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies Video Monitoring Services through Smart Interactive Systems, Inc., a subsidiary established in the U.S. in June 2001. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Mexico, Romania and an office in China. Revenues for fiscal year 2002 were US$43 million, with net income of US$1.9 million. Magal trades in the U.S. on the NASDAQ National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the symbol MAGS. This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward- looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Report on Form 8-K filed with the Securities and Exchange Commission. Contacts: Magal Security Systems, Ltd. Raya Asher, CFO Tel: +972-3-539-1444 Fax: 972-3-536-6245 E-mail: Gal IR International Ehud Helft/Kenny Green Tel: 1 866 704 6710 Int'l dial: +972 3 607 4717 E-mail: DATASOURCE: Magal Security Systems, Ltd. CONTACT: Raya Asher, CFO, Magal Security Systems, Ltd., +972-3-539-1444, fax +972-3-536-6245, or ; Ehud Helft, , or Kenny Green, , both of Gal IR International, 1-866-704-6710, or Int'l dial +972-3-607-4717

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