UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D
                                (Amendment No. 2)

                    Under the Securities Exchange Act of 1934

                           MAGAL SECURITY SYSTEMS LTD.
                           ---------------------------
                                (Name of Issuer)

                  Ordinary Shares, par value NIS 1.00 per share
                  ---------------------------------------------
                         (Title of Class of Securities)

                                   M6786D 10 4
                                   -----------
                                 (CUSIP Number)

                               Steven J. Glusband
                            Carter, Ledyard & Milburn
                     2 Wall Street, New York, New York 10005
                                 (212) 732-3200
            --------------------------------------------------------
            (Name, Address and Telephone Number of Person Authorized
                     to Receive Notices and Communications)

                                  April 8, 2004
             -------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].

Note:  Schedules  filed in paper format will include a signed  original and five
copies of the  schedule,  including all  exhibits.  See ss.  240.13d-7 for other
parties to whom copies are to be sent.

*The  remainder  of this cover page will be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information  required on the remainder of this cover page will not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but will be subject to all other provisions of the Act (however, see the Notes).






CUSIP No. M6786D 10 4

1      NAME OF REPORTING PERSON: Mira Mag Inc.

       I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): Not Applicable

2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]

                                                         (b) [X]

3      SEC USE ONLY

4      SOURCE OF FUNDS:  WC

5      CHECK  BOX IF  DISCLOSURE  OF LEGAL  PROCEEDINGS  IS  REQUIRED  PURSUANT
       TO  ITEMS  2(d) or 2(e):                              [ ]

6      CITIZENSHIP OR PLACE OF ORGANIZATION:  Liberia

NUMBER OF      7     SOLE VOTING POWER: 1,699,096 shares of Ordinary Shares
SHARES
BENEFICIALLY   8     SHARED VOTING POWER: 0 shares of Ordinary Shares
OWNED BY
EACH           9     SOLE DISPOSITIVE POWER: 1,699,096 shares of Ordinary Shares
REPORTING
PERSON WITH    10    SHARED DISPOSITIVE POWER: 0 shares of Ordinary Shares

11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON: 1,699,096 shares of Ordinary Shares

12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
       CERTAIN SHARES                                        [ ]

13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 20.7%

14     TYPE OF REPORTING PERSON: CO


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     This  Amendment  No. 2 to the Statement on Schedule 13D dated July 24, 2003
is being filed to report the sale by Mira Mag Inc.  ("Mira Mag") of an aggregate
of 827,000 ordinary shares,  NIS 1.0 par value, (the "Ordinary Shares") of Magal
Security Systems,  Ltd., an Israeli  corporation,  (the "Issuer") in a series of
open market transactions.

Item 5. Interest in Securities of the Issuer

        ITEM 5 OF THIS STATEMENT IS HEREBY AMENDED AND RESTATED TO READ IN ITS
ENTIRETY AS FOLLOWS:

     (a) and (b) Mira Mag is the  holder  of  1,699,096  Ordinary  Shares of the
Issuer, or approximately  20.7% of the 8,199,057 Ordinary Shares of the Issuer's
issued  and  outstanding  shares  as of April  15,  2004.  Mira Mag is a holding
company in which The Eurona  Foundation holds 81.5%, and Jacob Even-Ezra's three
children,  hold 18.5% of the outstanding shares. Mr. Even-Ezra has served as the
Issuer's  chairman of the Board and Chief  Executive  Officer  since  1984.  The
purpose of the Eurona  Foundation,  the trustees of which are Prinz  Michael von
Liechtenstein,  Altenbach  8, P.O.  Box 339, FL 9490 Vaduz,  Liechtenstein,  and
Nathan  Kirsh,  Kapola  Estate,  Ezulwini,  Swaziland,  is to  provide  for  the
education,  maintenance and support of the family of Nathan Kirsh and such other
persons as the foundation's  board may determine.  Jacob Even-Ezra  beneficially
owns all of the  shares of the  Issuer  held by Mira Mag in which his  children,
Ornit Dekel and Guy and Asaf Even-Ezra, have an interest.

     (c) The  following  table sets forth all the  transactions  in the Ordinary
Shares of the Issuer effected by Mira Mag since April 3, 2004. This  transaction
was open market sales effected on the Nasdaq National Market.


                                     Number of
          Date of Sale            Ordinary Shares   Price Per Share*
          ------------            ---------------   ----------------
          April 8, 2004               400,000           $36.22
          April 12, 2004              137,500           $35.45
          April 13, 2004              289,500           $31.19

-------------------------
*    Does not include broker's commissions.

        Except for the forgoing, Mira Mag has not effected any transactions in
the Ordinary Shares since April 3, 2004.


     (d) Not applicable.

     (e) Not applicable.

Item 7. Material to be filed as Exhibits

     None.


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                                   SIGNATURES

        After reasonable inquiry and to the best of our knowledge and belief,
the undersigned hereby certify that the information set forth in this Statement
is true, complete and correct.


Date:   April 16, 2004

                                            Mira Mag Inc.

                                            /s/ Jacob Even-Ezra
                                            -------------------
                                            By: Jacob Even-Ezra
                                            Title: Director

















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