Westminster Group Regulatory News (WSG)

22 Apr 2008 07:01

Westminster Group PLC22 April 2008 22nd April 2008 Westminster Group Plc: New contract Award Integrated Bank Security Systems - West Africa Westminster Group plc ('Westminster' or 'the Group'), the AIM listed supplier ofsystem solutions and products to the security, defence, fire protection andsafety markets worldwide, announces that it has been awarded a further contractwith Ecobank, a leading independent West African Banking Group, with an initialvalue of circa USD90,000. Ecobank serves wholesale and retail customers from its network of over 350branches across 18 countries throughout West and Central Africa. Westminster conducted a pilot installation for Ecobank in 2007 with a view totesting its integrated security solutions for roll out throughout the branchnetwork. As a result of the successful pilot, Westminster has already installedsystems in seven Ecobank branches within Ghana. The latest contract is for twoadditional branches in Accra, Ghana. This contract involves the installation of high security, fully integratedsecurity systems at each branch including CCTV surveillance, bespoke ATMmonitoring equipment, access control and intruder alarm systems. The branchsystems have the capability of automatically reporting to Ecobank's Head Officeto allow remote Control & Command, interrogation and monitoring of eachindividual branch. It is Ecobank's intention that Westminster will install similar securityprotection throughout its entire branch network. A further 6 branches havealready been surveyed and are currently under consideration. Commenting on the latest contract award, Peter Fowler, Chief Executive ofWestminster Group, said: "I am very pleased to announce this latest contract award especially as this isrepeat business from an important client. It further demonstrates our ability tobuild long-term relationships and provide high quality services to emerging andthird world economies. "We see great opportunities for Westminster in the African, Asian and MiddleEastern markets. Our strategy of providing consultancy advice and technicalsupport at a local level through our international agency network will, webelieve, enable us to generate significant additional revenues from theseregions. In this particular case, the potential to supply the system toEcobank's entire 350 branch network, including ongoing maintenance and technicalsupport, would substantially boost our recurring revenues." Enquiries: Peter Fowler 01295 756 300Chief Executive - Westminster Group Plc Clive Carver 020 7600 1658FinnCap Tom Cooper/Paul Vann 0117 920 0092Winningtons Financial Notes: Westminster Group plc is a leader in the supply of system solutions and productsto the security, defence, fire protection and safety markets worldwide. Westminster's principal activity is the design, supply and ongoing support ofadvanced technology security solutions. These can range from product onlyassignments, such as the supply of specialised scanners, to the design andimplementation of an integrated system solution such as a border detection andsurveillance system. The majority of its customer base, by value, comprisesgovernments and government agencies, non governmental organisations and bluechip commercial organisations. This information is provided by RNS The company news service from the London Stock Exchange