Brink's, Inc.

804-289-9707

1801 Bayberry Court

Richmond, VA 23226

www.brinksinc.com

Business Description 
Brink's is a division of the publicly traded company, The Brink's Companies.

The major services offered by Brink's include armored car transportation,
automated teller machine ("ATM") servicing, currency and deposit processing
(including "Cash Logistics" services), coin sorting and wrapping, arranging the
secure air transportation of valuables ("Global Services") and the deploying and
servicing of safes and safe control devices, including its patented CompuSafe(R)
service.

Brink's has operations throughout the world with 42% of its 2003 revenues from
its operations in North America. Brink's in North America serves customers
through 155 branches in the U.S. and 44 branches in Canada.

Brink's operations outside North America are located in 48 countries, with
concentrations in Europe (39% of Brink's 2003 revenues) and South America (15%
of Brink's 2003 revenues.) In addition, Brink's has growing operations in the
Asia-Pacific region of the world that accounted for 4% of its 2003 revenues.
Brink's largest operations outside North America, in terms of 2003 revenues,
were located in France, Venezuela, the Netherlands, Brazil, Germany, the United
Kingdom and Colombia. These operations accounted for 80% of 2003 revenues
outside of North America.

Brink's ownership interest in subsidiaries and affiliated companies ranges from
20% to 100%. In some instances local laws limit the extent of Brink's ownership
interest.

Brink's customers include banks; industrial, retail and other commercial
businesses; investment banking and brokerage firms; and government agencies,
such as a country's central bank. Brink's provides individualized services under
separate contracts designed to meet the distinct transportation, security and
logistics requirements of its customers. These contracts are usually for an
initial term of, at least, one year but continue in effect thereafter until
canceled by either party.

Brink's armored car transportation services generally include secure
transportation of:

o Cash between businesses and banks.

o Cash, securities and other negotiable items and valuables between commercial
banks, central banks (such as the U.S. Federal Reserve Banks and their
branches and correspondents) and brokerage firms.

o New currency, coins and precious metals for a number of central banks
throughout the world.

o Canceled checks between banks or between a clearing house and its member
banks in certain geographic areas.

The trend by banks, retail businesses and others to outsource vaulting and cash
room operations continued in 2003. Brink's provides coin and currency processing
("Cash Logistics") services primarily to banks and retail customers. Cash
Logistics is a fully integrated solution that proactively manages the entire
cycle of cash from point-of-sale through deposit at the bank. The process
includes transportation, cashier balancing and reporting, deposit processing and
consolidation, and electronic information exchange. Retail customers use Brink's
Cash Logistics services to count and reconcile coins and currency in Brink's
secure environment, to prepare bank deposit information and to replenish retail
locations' coins and currency in proper denominations.

Through its proprietary cash processing and information systems, Brink's offers
customers the ability to integrate a full range of vault, ATM, transportation,
storage, processing, inventory management and reporting services. Brink's
believes that its cash processing and information systems differentiate its Cash
Logistics services from its competitors.

For transporting money and other valuables over long distances, Brink's Global
Services offers a combined armored car and secure air transportation service
between many cities around the world. Brink's uses regularly scheduled or
chartered aircraft in connection with its air courier services. Included in
Global Services is a specialized diamond and jewelry secure transportation
operation, with offices in the major diamond and jewelry centers of the world.

Brink's CompuSafe(R) services provide retail customers with a proprietary
integrated system for safeguarding and managing cash. Brink's markets its
CompuSafe(R) services to a variety of cash-intensive retail customers, such as
convenience stores, gas stations and restaurants. The service includes
installing a specialized safe in the retail establishment that holds safeguarded
canisters. The customer's employees deposit currency into the canister. The
canister can only be removed by Brink's armored car personnel.

Competition
Brink's is the oldest and largest armored car service company in the U.S. as
well as a market leader in many of the countries in which it operates.
Worldwide, Brink's competes with a number of large multinational companies and
with many smaller companies.

Primary factors in attracting and retaining customers are security, the quality
of services provided and the price for services. Brink's believes its
competitive advantages include:

o Recognizable name

o Reputation for a high level of service and security

o Proprietary cash processing and information systems

o High-quality insurance coverage

o Ability to serve multiple markets for the same customer in many of the
countries in which Brink's has operations

Brink's believes its cost structure is generally competitive, although Brink's
believes certain competitors may have lower costs as a result of lower wage and
benefit levels for employees or as a result of different security and service
standards.

Brink's growth in revenues from financial institutions and retail businesses is
partially dependent on the growth in the economy. Recent slow economic growth
has resulted in an increasing focus on the cost of all services including
armored car services by customers and potential customers. Because Brink's
management believes that the high level of service and security provided
differentiates Brink's from its competitors, Brink's resists competing on price
alone.

The availability of quality and reliable insurance coverage is an important
factor in the ability of Brink's to obtain and retain customers and to manage
the risks of its business. Brink's purchases insurance coverage for losses in
excess of what it considers prudent deductibles and/or retentions. For losses
below deductible or retention levels, Brink's is self-insured. Brink's insurance
policies cover losses from most causes, with the exception of war, nuclear risk
and certain other exclusions typical for such policies. Brink's generally does
not offer its customers protection from losses arising from excluded clauses.

Insurance is provided by different groups of underwriters at negotiated rates
and terms. Insurance is available to Brink's in major markets although the
premiums charged are subject to fluctuations depending on market conditions. The
loss experience of Brink's and, to a limited extent, other armored carriers
affects premium rates charged to Brink's.

Service Mark, Patents and Copyrights
BRINKS is a registered service mark in the U.S. and certain foreign countries.
The BRINKS mark, name and related marks are of material significance to Brink's
business. Brink's owns patents with respect to certain coin sorting and counting
machines, which expire in 2007 and 2008, respectively. Brink's has patents
associated with its integrated CompuSafe(R) service, that expire in 2015 through
2018. The patents for the CompuSafe(R) device and sorting and counting machines
provide important advantages to Brink's. However, Brink's operations are not
dependent on the existence of the aforementioned patents.

The Company has entered into certain agreements to license the Brink's and the
Brink's Home Security name. Examples include licenses to distributors of
security products (padlocks, home safes, door and window hardware, etc.) offered
for sale to consumers through major retail chains.

Security Services - Category Directory

Security Services Companies in the Directory

ADT

Brink's Inc.

Brink's Home Security

Central Security Group