Exhibit 99.1
CONTACT: Leonard Carr
Vice President
713-783-8200
lcarr@tidelmail.com
FOR IMMEDIATE RELEASE
TIDEL CHAIRMAN AND CEO RASH DIES
LEVENICK APPOINTED INTERIM CEO
HOUSTON, Texas -- December 23, 2004 -- Tidel Technologies, Inc. (Other OTC:
ATMS) announced today that James T. Rash, its Chairman and Chief Executive
Officer since February 1989, died Sunday from an illness contracted during
cancer-related chemotherapy treatment. On December 22, 2004, the Board of
Directors appointed Mark K. Levenick, Chief Operating Officer of Tidel, to the
position of Interim Chief Executive Officer.
ABOUT TIDEL
Tidel Technologies, Inc. is a manufacturer of automated teller machines and cash
security equipment designed for specialty retail marketers. More information
about the company and its products may be found on the Internet at
http://www.tidel.com.
PRECAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD-LOOKING
STATEMENTS WITHIN THE MEANING OF SECTION 21(E) OF THE SECURITIES EXCHANGE ACT OF
1934. THE STATEMENTS ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES, INCLUDING
BUT NOT LIMITED TO THE COMPANY'S FINANCIAL POSITION AND WORKING CAPITAL
AVAILABILITY, ABILITY TO REPAY ITS INDEBTEDNESS, THE LEVELS OF ORDERS WHICH ARE
RECEIVED AND CAN BE SHIPPED IN A QUARTER; CUSTOMER ORDER PATTERNS AND
SEASONALITY; COSTS OF LABOR, RAW MATERIALS, SUPPLIES AND EQUIPMENT;
TECHNOLOGICAL CHANGES; COMPETITION AND COMPETITIVE PRESSURES ON PRICING; CHANGES
IN THE COMPANY'S RELATIONSHIPS WITH CUSTOMERS OR SUPPLIERS; ACCEPTANCE OF THE
COMPANY'S PRODUCT AND TECHNOLOGY INTRODUCTIONS IN THE MARKETPLACE; UNANTICIPATED
LITIGATION, CLAIMS OR ASSESSMENTS; THE COMPANY'S ABILITY TO REDUCE COSTS AND
EXPENSES AND IMPROVE INTERNAL OPERATING EFFICIENCIES; THE ECONOMIC CONDITION OF
THE ATM INDUSTRY AND THE POSSIBILITY THAT IT IS A MATURE INDUSTRY; THE FUTURE
TRADING MARKET FOR THE COMPANY'S SECURITIES; AND ECONOMIC CONDITIONS IN THE
UNITED STATES AND WORLDWIDE. TIDEL UNDERTAKES NO DUTY TO UPDATE ANY OF THE
STATEMENTS SET FORTH IN THIS RELEASE.
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