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August 12, 2004 Stock Pick: Mace Security International, Inc. (MACE)

Stock Price: $3.02

Mace Security International, Inc. is a manufacturer of electronic surveillance and personal defense products. The company is also an owner and operator of car and truck wash facilities.

Over a month ago, the company acquired two electronic surveillance security businesses with over $20 million in annualized sales. This action plus 178% growth in electronic surveillance product revenue last quarter makes MACE a possible homeland security play especially at this level.

As of March 31, 2004, MACE had a book value of $4.36. The company has decided to buyback $3.0 million worth of its undervalued shares.

MACE has been bottoming and should begin to rise in the near future.

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