STOCKHOLM, Sweden, Nov. 20, 2002 (PRIMEZONE) -- Securitas (Other OTC:SCTBF) (Stockholm:SECUb):
The U.S. Senate gave final approval last night to legislation to create a new cabinet-level Department of Homeland Security. The vote came after several months of debate in Congress over the need and extent to which the federal government needed to restructure and coordinate the nation's ongoing war against global terrorism in the wake of the September 11 attacks. President Bush is expected to sign the bill into law shortly. The law will take effect immediately after the President's signature.
Section 890 of the bill as passed (H.R. 5005) restores the liability cap for eligible screening companies such as Securitas subsidary Globe Aviation Services that had contracted with the U.S. aviation agency known as the Federal Aviation Administration, and which had commenced services no later than February 17, 2002. Under this legislation, any potential liability arising out of the terrorist events of September 11, 2001 would be limited to the amount of liability insurance coverage maintained.
The text of the bill including the provision that reinstates the liability cap for airport screening companies as approved by the Senate and the House of Representatives is available at http://www.thomas.loc.gov
Further information can be obtained from:
Thomas Berglund, President and CEO +44 208 432 6500 Amund Skarholt, Executive Vice President and COO +44 208 432 6500 Hakan Winberg, Executive Vice President and CFO +44 208 432 6500 Henrik Brehmer, SVP Investor and Public Relations +44 208 432 6523
The press release is also available on: www.securitasgroup.com.
Securitas is a world leader in security, providing services within guarding, alarms, cash handling and consulting & investigations. The group has about 230,000 employees in more than 30 countries.
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