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Mon, Jun 02, 2003

ICTS Directors Under Investigation In Israel

Involvement With Another Company May Land Execs In Hot Water

ICTS International, a provider of advanced aviation services, says that on Sunday, May 25, 2003, Ezra Harel, the company's chairman of the board, was arrested in Israel in a criminal investigation under Israeli law involving an unrelated company. Harel was a former director and controlling shareholder in that company. He was subsequently released on bail in Israel by the investigative authorities of the Israeli Securities Authority.

Menachem Atzmon, a director of ICTS International was also detained and subsequently released on bail in the same matter. Atzmon may be deemed a former controlling shareholder of the unrelated company. The substance of the Israeli Securities Authority's questioning of Harel and Atzmon is not known, since a gag order is in effect in connection with the investigation.

Lior Zouker, the President of ICTS stated that "ICTS has no indication that the investigation involves ICTS."

FMI: www.icts-int.com/set.html

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