Mace Security International Announces Car Wash Sales by EON

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									Mace Security International Announces Car Wash
Sales
June 10, 2010 01:18 PM Eastern Daylight Time  

HORSHAM, Pa.--(EON: Enhanced Online News)--Mace Security International, Inc. (“MACE” or the
“Company”) (NASDAQ Global: MACE) announced that it has closed on the sale of a car wash in Lubbock, Texas
for $650,000 and that it has entered into agreements to sell its remaining car wash in Lubbock, Texas for
$1,700,000 and a car wash in Arlington, Texas for $2,100,000.

Lubbock, Texas Car Washes

On June 2, 2010, the Company completed its sale of the 50’s Classic Car Wash in Lubbock, Texas for $650,000.
The car wash had a book value of approximately $430,000. There was no outstanding debt on this car wash.

Additionally, on May 24, 2010, the Company entered into an agreement of sale for its remaining car wash it owns in
Lubbock, Texas, the Crystal Falls Car Wash, for a sales price of $1,700,000. The current book value of this car
wash is approximately $1,700,000. After payment of the related debt of approximately $770,000 and customary
closing costs, the Corporation expects to net approximately $900,000 upon completion of the sale. The agreement
of sale provides the buyer with a forty five (45) day feasibility study period followed by a maximum of six months, at
the buyer’s discretion and cost, to remove existing underground storage tanks and obtain necessary environmental
clearance. No assurance can be given that this transaction will be consummated. An escrow deposit of $25,000 was
made by the buyer with the deposit payable to the Company under certain default conditions as defined in the
agreement of sale.

Arlington, Texas Car Wash

On June 1, 2010, the Company entered into an agreement of sale for a car wash in Arlington, Texas for a sales price
of $2,100,000. The current book value of this car wash is approximately $2,000,000 with outstanding debt of
approximately $820,000. The agreement of sale provides the buyer a forty five (45) day inspection period with the
closing date forty five (45) days after the inspection period. The buyer can exercise up to three 30 day extension
periods beyond the defined closing date with additional escrow deposits required of $10,000 for each extension
period requested. No assurance can be given that this transaction will be consummated. An escrow deposit of
$10,000 was made by the buyer with an additional escrow deposit of $30,000 required five days after the 45 day
inspection period. The deposits are payable to the Company under certain default conditions as defined in the
agreement of sale.

“We are excited that we are continuing to sell our car washes especially in the current economic environment,” said
Dennis Raefield, Mace’s CEO and President. “We previously disclosed that we sold the Hanna Car Wash in
Lubbock, Texas in March, 2009. With the recent completion of the sale of the 50’s Classic Car Wash and the
execution of the signed agreement to sell the Crystal Falls Car Wash in Lubbock, Texas, Mace is one step closer to
being completely out of the Lubbock, Texas market.” 

Exclusive of the above mentioned car washes, Mace has four remaining car washes in the Arlington and Fort Worth,
Texas market, one of which is under an agreement of sale for $625,000 dated January 27, 2010 which is anticipated
to close by June 30, 2010.

About Mace
Mace Security International, Inc. is the manufacturer of personal defense and electronic surveillance products
marketed under the famous brand name Mace®, and is an owner and operator of a wholesale central monitoring
station. The Company also operates a Digital Media Marketing and e-commerce business. Mace’s web site is
www.mace.com.

Certain statements and information included in this press release constitute “forward-looking statements” within the
meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words
or phrases “will likely result”, “are expected to”, “will continue”, “is anticipated”, “estimate”, “projected”, “intend to” 
or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and
uncertainties. A discussion of factors that could materially adversely affect the Company’s financial performance and
cause actual results for future periods to differ materially from the statements expressed within this press release, are
contained under the heading “Risk Factors” in Mace’s SEC filings, including its periodic reports on Form 10-K and
Form 10-Q ,which reports should be read in conjunction with this press release.

Contacts
Mace Security International, Inc.
Gregory Krzemien, CFO and Treasurer
215-259-5670
greg@mace.com

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