SOURCE: View Systems, Inc.

May 15, 2008 09:15 ET

View Systems Announces Positive First Quarter and Ongoing Plans

BALTIMORE, MD--(Marketwire - May 15, 2008) - View Systems, Inc. (OTCBB: VYST) announced today that the firm's quarterly report released yesterday showed a positive first quarter.

Net revenues of $290,431 were reported for the quarter ending March 31, 2008 -- up from $250,706 for the same period last year. Cost of sales decreased from $141,509 last year to $107,230 due to the result of economies of scale achieved through larger quantity purchases at lower unit costs. The outcome is an increase in gross profit from $109,197 last year to $183,201. Total operating expenses decreased drastically from last year; March 31, 2008 total is $228,489, down from $416,936 reported March 31, 2007. Additional increases in sales should produce even greater margins.

Gunther Than, CEO of View Systems, states, "The next phase of our business plan will be to raise additional funds through common stock offerings to provide working capital to finance several acquisitions and the integration of new technologies and/or businesses. We also intend to strengthen our balance sheet by paying off debt. However, we have also been approached as a potential acquisition target by certain entities that would make use of our public structure and/or our net tax asset of $8,235,583.

"It is our intention to execute our business plan, unless and until we conclude that being acquired is the option that is more likely to lead to greater value for our shareholders. We have not entered into definite agreements or decisions about any of our opportunities.

"We plan to hold an annual meeting this year. We will issue information statements and mail out proxy forms as necessary at the appropriate time."

About View Systems, Inc.: View Systems, Inc. manufactures and installs unique security products to government agencies, schools, courthouses, event and sports venues, the Military and commercial businesses.

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Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

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