June 10, 2002

News Release: 22% Increase in Sales

GARDA WORLD SECURITY CORP ("GW-V") - 22% Increase in Sales
The management of Garda World Security Corporation is proud to announce its annual financial results for the year ended January 31, 2002. This year's highlights * Sustained internal growth of close to 17%; * Geographic expansion of more than 50% * Debt restructuring. Selected Financial Information

(in dollars, except 
 for per share amount)           January 31, 2002    January 31, 2001 
 
Sales                                  73,055,307          59,932,175 
EBITDA (1)                              3,100,985           2,841,319 
Fully diluted EBITDA                         0.15                0.16 
Cash flows from operations              1,560,675           2,165,350 
Net earnings (2)                          611,722             874,741 

1) Earnings before interest, taxes, depreciation and amortization.
(2) Net earnings for the year, excluding goodwill amortization and the
after-tax effect of unusual items.

"All of our business segments show a strong progression and we are extremely optimistic for the upcoming months. We have put in place a solid platform which will enable us to sustain our growth and achieve the profitability levels that management is targeting" says Mr. Stephan Cretier, President and C.E.O. of Garda World.

Sales for the year ended January 31, 2002 increased by approximately 22%, from $59,932,175 in fiscal 2001 to $73,055,307 in fiscal 2002. This is attributable mainly to sustained internal growth of approximately 17%, of which 30% comes from our geographic expansion, and to the full impact of our fiscal 2001 strategic acquisitions on fiscal 2002 results.

EBITDA increased by 9%, from $2,841,319 (4.7% of sales) in fiscal 2001 to $3,100,985 (4.2% of sales) in fiscal 2002. Fully diluted EBITDA per share remained stable at $0.15 for fiscal 2002 and $0.16 for fiscal 2001. Despite the increase in sales, our margins were impacted by our rapid internal growth, a change in the sales mix and pressure on our operations following the events of September 11, 2001. Selling and administrative expenses increased by approximately $710,000 which is attributable to our strategic acquisitions in fiscal 2001 and particularly to our geographic expansion, which have resulted in a higher overhead cost structure. We nevertheless remained close to our target of 6% of sales.

Also, during fiscal 2002, the Corporation completed a QSSP-eligible private placement amounting to $1,750,000, and proceeded with a banking refinancing with Bank of Montreal as new strategic partner. As noted by Mr. Yani Gagnon, CA, CPA, Vice-president and C.F.O. : "Over and above the fact that it strengthened our balance sheet, this refinancing has allowed the Corporation to redeem $2,426,600 of convertible debentures, improved the debt to equity ratio from 2.57 in fiscal 2001 to 1.46 in fiscal 2002, and will result in annual savings of approximately $350,000 in interest starting in fiscal 2003.

A well-established market leader security services provider on the Canadian market, Garda World has gained a solid reputation in the security industry. Profit Magazine, one of cross-Canada's most coveted business publications, and L'Actualite, Quebec's premier magazine, have earmarked Garda World #1 in Quebec and #7 in Canada on this year's 100 fastest growing company survey, with its 9,475% growth from 1995 to 2001. Best known for its one-stop-shop approach, Garda World provides security services to its industrial, commercial and public customers, through a vast range of services including traditional and state-of-the-art technology and techniques. Garda World is also an important shareholder (70%) of SoftManagement Inc., a Canadian-based company specialized in designing and marketing proprietary software products intended for security management, emergency management and business continuity management. TEL: (866) 460-0408 Paradox

Mr. Eric Leboeuf, Public Relations TEL: (514) 937-7487 local 235 Garda World Security Corporation TEL: (800) 334-2732 Mr. Stephan Cretier, President and C.E.O Internet: www.garda.ca TEL: (514) 937-7487 local 235 Garda World Security Corporation TEL: (800) 334-2732 Mr. Yani Gagnon, Vice-President and C.F.O Internet: www.garda.ca

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