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ASSA ABLOY Hospitality Inks Exclusive Agreement with SREE Hospitality
14 March 2004

RICHARDSON, TX - ASSA ABLOY Hospitality, the world's leading supplier of security related products to the hospitality industry, announced today that the company has executed an exclusive agreement with Charlotte, NC-based SREE Hospitality. Under the terms of the agreement, ASSA ABLOY Hospitality is designated as the exclusive supplier of security products to SREE's 29 hotel properties in Virginia, Maryland, Washington D.C. and the Carolinas. SREE's family of franchises includes Marriott Courtyard, Fairfield Inn, TownePlace Suites, Springhill Suites, Residence Inn, Comfort Inn, Comfort Suites, Sleep Inn, Econolodge, Holiday Inn, Hilton Garden Inn and Hampton Inn flags.

ASSA ABLOY Hospitality will provide an assortment of security products from its Elsafe and VingCard brands to existing SREE Hotels, as well as renovation and new construction projects. In addition, training and certification on ASSA ABLOY Hospitality products and systems will be offered to SREE employees.

"With our extensive range of product combinations, ASSA ABLOY Hospitality is uniquely positioned to provide the ideal security solution for SREE Hospitality's broad brand portfolio," said John Foley, Vice President of Sales for ASSA ABLOY Hospitality. "We can configure 'the perfect match' for each property, based on their individual security needs."

Founded in 1980, SREE Hospitality has established a reputation for managing a portfolio of financially successful properties. Their success has been validated by numerous hospitality awards over the past two decades. For more information, please contact Matthew Mrowczynski at 972-692-3110.

Further information can be obtained from:
John Foley
Vice President of Sales
ASSA ABLOY Hospitality Inc.
9333 Forest Lane, Dallas TX 75243
Tel: (972) 907-2273d
Fax: (972) 907-2771
usa@assaabloyhospitality.com

ASSA ABLOY Hospitality Inc. sells and services a host of ASSA ABLOY products, including locks, in-room safes and modern systems for security and safety in the hotel industry. The offering includes Elsafe, VingCard and TimeLox.

The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions, dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of about EUR3 billion

Contact
Andrea Roland
Phone: 407.905.0608
Fax: 407.905.9484
Email: andrea@phoenix-group.us

Organization
Vingcard, an ASSA ABLOY brand
www.vingcard.com/
631 International Parkway, Suite 100
USA - Richardson, TX 75081
Tollfree: +1 800 225 8464
Phone: 1 972 907 2273

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