| DALLAS, TX (March 17, 2003) - Elsafe, the world's leading supplier
of in-room electronic safes to the hospitality industry, announced today
that they have inked an extended agreement with Starwood Hotels & Resorts
Worldwide, Inc. This agreement maintains Elsafe�s current partnership with
Starwood to supply in-room Elsafes to more than 750 owned, managed and
franchised hotels in 80 countries around the globe. Since the original
agreement was signed in November 1999, Elsafe has installed over 40,000
in-room safes in Starwood properties worldwide.
"This agreement further solidifies our long-standing relationship with Starwood and confirms their staunch commitment to quality security products,� said John Foley, Vice President of the Elsafe Division of ASSA ABLOY Hospitality. �Together, we intend to continue to raise the bar in the industry for security, convenience and guest satisfaction.� According to Jay Schwartz, Starwood's Strategic Sourcing Manager, "Over the past three years, Elsafe has proven their commitment to continuous innovation and consistent quality. Quite simply, they offer a superior product coupled with the best service at a very competitive price. They are also the only company that can provide us with a worldwide sales and service network that mirrors our hotel base." Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 105,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, and W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwood.com. About Elsafe
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With
the invention of the world's first electronic in-room safe in 1979, Elsafe
revolutionized hotel guestroom security. For over 24 years since, Elsafe
has maintained this position of leadership, continuously introducing new
products that combine unparalleled strength and durability with technological
superiority. Recently, the company became the first safe manufacturer to
pass the stringent UL® anti-theft test with the popular Infinity� Collection.
The company was also the first to successfully incorporate biometric access
technology into an in-room safe. The Infinity� Biometric was awarded
the "Editor's Choice" Award for best new product at the 2001 International
Hotel/Motel & Restaurant Show in New York. Currently, Elsafe products
are installed in nearly one million hotel rooms and cruise ship cabins
around the globe. Used by virtually every major hotel chain in over 130
countries, Elsafe is the most trusted name in guestroom security. Elsafe
is part of ASSA ABLOY Hospitality Inc., one of 100 global companies within
the ASSA ABLOY group, a public Swedish company traded on the Stockholm
Stock Exchange. The group's expansive international network consists of
11 subsidiaries and 75 distributors. Currently, the group has around 30,000
employees and annual sales of approx. USD 3 billion. For more information,
please visit