The Steele Foundation spins off training

subsidiary

The Steele Foundation spins off training subsidiary.

SAN FRANCISCO, CA – JUNE 26, 2006. The Steele Foundation announced plans to spin off its International Training Group division into a new, separate company.

“The Steele Foundation is positioning the training sector of its business to be more competitive in government services”, said Kenn Kurtz, CEO and Chairman of Steele. “This move will enable the new company to participate in government contracts which are designated set-asides as well as attract more strategic investment as its own brand.” The new company will be called ITG Consultants, Inc., and will trade under the registered mark (“ITG®”).

"If you think about the security training space, it's moving to a more predictive model," said David L. Johnson, the President of the spin-off. “ITG® hopes to reinvent the way private companies and governments view training. Rather than only educating security practitioners on basic topics, ITG® will provide tailored programs that educate students on sophisticated topics and at advanced levels.” Additionally, a major initiative will be to broaden ITG’s® relationship with other training facilities and private security companies in order to help place students and extend professional growth opportunities to its alumni.

The Steele Foundation has had an integral role in defining new models of partnership between Governments and NGOs and the private security industry, in particular by providing specialized training for operating in high risk environments. That effort now will be continued through ITG®. The Steele Foundation and ITG® will continue to closely collaborate and leverage Steele’s global presence and past performance to pursue opportunities.

The Steele Foundation is at www.steelefoundation.com. International Training Group is at www.itg4.com.