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Timelox Adjusts Pricing to Accommodate Declining USD
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Continued U.S. and Canadian dollar (USD/CAD) depreciation against the European Euro (EUR),
Chinese Renmibi (RMB) and other major currencies supports a 10 percent price correction
in USD/CAD markets
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DALLAS — APRIL 17, 2008 — The rising cost of raw materials and transportation, coupled with the continued decline in the value of the U.S. and Canadian dollar (USD/CAD) versus the EURO (EUR), China Renminbi (RMB) and other major world currencies, has resulted in the need for companies to make price adjustments to help restore balance in light of the current economic environment. TimeLox, the leading developer of security solutions for gaming properties and other large resorts, today announced a 10 percent price increase on all electronic lock and in-room safe products. The price increase will go into effect by June 1. 

“We  absorbed most of the impact of the currency movements over the past 18 months to support the long-term growth of our customers and to help them stay financially healthy, physically secure, and solidly positioned in their respective markets,” said Marc Freundlich, president of TimeLox North America. “However, after further decline of the dollar this year to date, we must move to stabilize our costs to better reflect these developments.

“The economic environment may be changing, but TimeLox will remain the leading developer of locking systems for hotels, casinos and resorts that we are known for around the world,” he said. 
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USD to EUR exchange rate
USD to RMB exchange rate
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About TimeLox
TimeLox is one of the leading suppliers of electronic hotel-locking systems worldwide, with a selection of advanced, widely compatible solutions that are among the simplest to install and run. Specializing in meeting the unique security needs of gaming properties and other large resorts, TimeLox has become an industry leader in smartcard, dual-card, infrared and RF-online locking technology, as well as the integration of locks with other systems, such as property management systems (PMS), point-of-sales systems (POS) and player tracking systems. More information is available at www.timelox.com.

 
Contact:

Riise Walker
Marketing Supervisor 
TimeLox
Tel: +1 (972) 692-3167
rwalker@vcegroup.com
 

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Also See: VingCard® Partners with SARGENT®, Yale® and Corbin Russwin® To Offer New Security Solutions for Hotels and Resorts; Industry Leaders Join Forces to Provide Door Hardware Continuity for Hospitality Properties / November 2007
VingCard® to Secure Newly Renovated Plaza Hotel in New York; Contactless Signature RFID Electronic Locks Installed at Legendary Central Park Property / November 2007
Delta Chelsea Hotel Enlists TimeLox® to Install Wireless Electronic Locking System; Canada’s Largest Hotel to Utilize New TimeLox Wireless DC-ONLINE System / November 2007
VingCard® to Secure Baha Mar Resort Hotels on Nassau's Cable Beach; Hotel Security Leader will Install Electronic Locks at New Development in the Bahamas / October 2007
VingCard® Receives Two Prestigious ADEX Awards for Innovation; Industry Professionals Recognize VingCard Products With Platinum and Gold Awards for Design Excellence / June 2007
TimeLox Reports Bull Market Affecting Brass Production, Pricing / December 2006
Signature Unlocks Canadian Market with Installations in Two Luxury Properties; Alberta and British Columbia hotels choose new Signature by VingCard electronic-locking system to enhance decor, ensure security / October 2006
NEW Signature by VingCard Door Locks Selected by Kauai Beach Hotel and Resort / May 2006
Rezidor SAS Names VingCard Elsafe a Preferred Security Partner for Providing Electronic Locks and In-Room Safes / April 2006
Casinos, Resorts, Timeshares and Condo Hotels Tap TimeLox for Online Security / March 2006
ASSA ABLOY Hospitality, Inc. Strengthens Global Security Positioning With Marc Freundlich Leading the Way / February 2006
Signature by VingCard Offers Attractive Security Options, Hoteliers Say; California-based Tarsadia Hotels is first to ‘design their security’ with new Signature Series electronic-locking solution / December 2005
VingCard ‘Signature’ and Elsafe Chosen Preferred Security Solutions for Courtyard by Marriott in Europe / December 2005
VingCard Elsafe Providing Emergency Support to Hotels Hit By Hurricanes Katrina and Rita / September 2005
Pascal Metivier Appointed President of Assa Abloy Hospitality for Europe, Middle East, Africa and Latin America / June 2005
Elsafe Providing a ‘Safe’ Environment for Business Travelers and HSIA Users / June 2005
When Security Counts . . . Count On VingCard to Upgrade Your Electronic-Locking System / June 2005
Elsafe Selected by Accor as its Sole Approved Provider of In-Room Safes / April 2005
Elsafe Asks: Are Your In-Room Safes REALLY Safe? / November 2004
Ken Brown Joins VingCard Elsafe As SVP Marketing and Sales, North America / November 2004
Four Cornerstones Ensure Sound Principles and Fair Business Practices For ASSA ABLOY Hospitality Brands (Elsafe, Timelox, VingCard and INHOVA) / May 2003
Elsafe Renews Global Agreement with Starwood Hotels & Resorts to Supply In-Room Safes / March 2003
Crowne Plaza Times Square Manhattan Upgrades to VingCard Locking System to Enhance Guest Security and Convenience / March 2003
Elsafe Selected to Provide In-room Safes to Accor Hotels Worldwide / Dec 2002


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