| 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. VingCard Elsafe, the leading provider of electronic locks
and in-room safes for the global hospitality industry, today announced
a 10 percent price increase on all electronic lock and in-room safe products.
The price increase will take effect prior to 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 help them stay financially healthy, physically secure, and solidly positioned in their respective markets,� said Marc Freundlich, president of ASSA ABLOY Hospitality 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 VingCard Elsafe will
remain the same reliable, secure and quality-driven manufacturer of security
solutions that we are known for around the world,� he said.
. About VingCard Elsafe  The
world leader in hotel security technology, ASSA ABLOY Hospitality has products
installed in more than 35,000 properties worldwide, securing in excess
of 6 million hotel rooms. The ASSA ABLOY Group, a publicly listed company,
is a world leader in security and hospitality systems. VingCard provides
numerous electronic locking system solutions, including traditional magnetic-strip,
smartcard systems and the latest RFID electronic locks compatible with
the main ISO standards: ISO 14.443A (MIFARE), ISO 14.443B, ISO15.693 and
NFC-compatible (Near Field Communication), fully integrated PMS interface
software solutions and worldwide service and support. Elsafe provides the
only UL-listed (1037) hotel safe series on the market today in keypad and
card-based models. Safes that include an internal power outlet to support
recharging of laptops and camcorders also are available with a UL listing.
Elsafe customers also enjoy the same worldwide service and support. The
ASSA ABLOY Hospitality Group is dedicated to the hospitality industry.
For more information on VingCard Elsafe, visit www.vingcard.com or www.elsafe.com.
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