Abstract: An alarm system for protecting a person and a valuable item from a thief is disclosed. The system comprises a personal module and an item module, each module being identical in size and shape and detail of construction. The modules are adapted to work in a paired, opposed relationship with each other. Each module has a plurality of flat multipole magnetic couplers recessed on an exterior face thereof. Each module has an electrical circuit contained within the casing having a siren transducer and a replaceable DC power source and an alarm switch therebetween. The alarm switch is adapted to close the circuit between the siren transducer and the DC power source when the modules are separated. Further, each module has a reed switch coupled to a magnetic switch in the casing inside the opposed module for deactivating the siren transducer and the replaceable DC power source upon the mating of the modules. The first module, the personal module, is attached to the person by a lanyard.