EasyPark™ Has Now Been Adopted in Approximately
20 French Municipalities Since Its First Introduction in the Past
Year
OTI to Showcase EasyPark at 2011
CARTES & ID Exhibition, Nov. 15-17 in Paris, Booth: 4M070
CARTES '11 – Paris -- On Track Innovations Ltd. ("OTI")
(Nasdaq:OTIV) today announced an agreement to deploy its
EasyPark™ parking management system in Lille,
France. The Lille metropolitan area has a population of 1.1 million
with approximately 0.5 million vehicles and is the first of
France's four largest urban areas to join the growing deployment of
the EasyPark™ solution. In the past year,
EasyPark™ has been adopted in approximately 20
French municipalities under the service brand PIAF™.
OTI's EasyPark™ system implementation will upgrade Lille's
existing parking payment methods, such as paper parking tickets and
"Pay and Display" machines to create a more user-friendly
experience for drivers and a lower cost and more efficient
operation for the city. Users will be able to re-load their PIAF™
cards at any of the 29 public reloading points located in tobacco
and lottery shops across the city, or directly from their personal
computer via the PARX France web site at
www.monpiaf.fr.
OTI's wholly-owned subsidiary PARX France manages the
EasyPark™ deployments across France under the
PIAF™ name. PARX France has contracted with Optimal Parking Control
("OPC") of Belgium to provide the EasyPark™ system
for Lille's PIAF™ rollout. OPC manages parking
operations in over 20 municipalities in Belgium, three of which
have already implemented EasyPark™, and its
appointment to manage Lille's parking system represents its initial
entry to the French market.
EasyPark™ is a unique parking management
solution that delivers a quick, flexible and convenient service for
drivers, without the substantial investments in infrastructure,
maintenance and overhead required to operate other parking
solutions. The system utilizes a unique in-car electronic device
that is placed in the window when parking, where it can be verified
wirelessly. The device tracks parking usage and processes parking
payments, providing a user-friendly experience that eliminates the
need for cash or change and reduces the time required to find and
utilize traditional parking meters.
OTI Chairman and CEO, Oded Bashan, commented, "We are pleased
with the fact that the city of Lille has joined many other cities
across France in providing their drivers the convenience, security
and flexibility of our EasyPark™ solution. This new deployment
underscores the clear benefits and efficiency our turnkey parking
management solution delivers to municipalities and drivers alike.
Importantly, the EasyPark™ model minimizes upfront
municipal investment while also enhancing the revenue potential and
efficiency of parking operations. Our experience has shown that the
growth of these programs will accelerate as consumer awareness and
word of mouth stimulate demand."
EasyPark™ Case Study - Israel
Since its launch in Israel in 2000, the EasyPark™ deployment has
grown to approximately 700,000 users in more than 40 municipalities
across Israel, representing nearly 60% penetration of Israel's 1.2
million drivers. The Israeli EasyPark™ business generates annual
device sales and service fees totaling approximately $2.5 million
as of year-end 2010. On a global basis, EasyPark™ has been
successfully deployed in over 110 municipalities around the world
with over 1.1 million devices sold to date.
About EasyPark™
The EasyPark™ system offers a unique on-street and off-street
parking management solution without expensive infrastructure and
construction requirements or ongoing maintenance or paper tickets.
EasyPark™ utilizes small in-car devices to create
a uniquely convenient user experience that eliminates the need for
cash or change and reduces the time required to manage the driver's
parking needs. Drivers can securely deposit additional parking
funds for the device either online or through public reloading
stations.
EasyPark™ system provides detailed reports to
the municipality that allow them to monitor and manage parking
patterns across the city. The system easily supports multiple
rates, tariffs and currencies and provides robust security.
Additionally, EasyPark™ eliminates most of the
costs of conventional parking solutions, their installation and
maintenance, and fairly allocates the cost of the parking devices
to those who are utilizing the system.
About On Track Innovations Ltd.
(www.otiglobal.com)
On Track Innovations Ltd. ("OTI") designs, develops and markets
secure identification, payment and transaction processing
technologies and solutions for use in secure ID, payment and
loyalty applications based on its extensive patent and IP
portfolio. OTI combines state-of-the-art, contactless
microprocessor-based technologies and enabling hardware with
proprietary software applications to deliver high performance,
end-to-end solutions that are secure, robust and scalable. OTI
solutions have been deployed around the world to address homeland
security, national ID, medical ID, contactless payment and loyalty
applications, petroleum payment, parking and mass transit
ticketing. OTI markets and supports its solutions through a global
network of regional offices and alliances.
About PARX Ltd.
(www.parxglobal.com)
PARX Ltd. is a wholly-owned subsidiary of OTI, responsible for
marketing, operating and distributing advanced parking solutions,
including EasyPark™ on a global basis. PARX currently serves over
110 municipalities around the world.
PARX France (
www.monpiaf.fr)
PARX France is a wholly-owned subsidiary of PARX Ltd.,
responsible for the implementation of the EasyPark™ system in
France and Belgium, under the PIAF™ brand. PIAF is an acronym for
Parcmètre Individuel À Fente (which is roughly translated as
"Individual Parking Meter with Smart Card Slot").
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Whenever we use words such as "will", "believe,"
"expect," "anticipate," "intend," "plan," "estimate" or similar
expressions, we are making forward-looking statements. Because such
statements deal with future events and are based on OTI's current
expectations, they are subject to various risks and uncertainties
and actual results, performance or achievements of OTI could differ
materially from those described in or implied by the statements in
this press release. For example, forward-looking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations such as statements
related to the expected revenues to be generated from the
introduction of our parking solutions in Lille,
France. Forward-looking statements could be
impacted by market acceptance of new and existing products and our
ability to execute production on orders, as well as the other risk
factors discussed in OTI's Annual Report on Form 20-F for the year
ended December 31, 2010, which is on file with the Securities and
Exchange Commission. Although OTI believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its
expectations will be achieved. Except as otherwise required by law,
OTI disclaims any intention or obligation to update or revise any
forward-looking statements, which speak only as of the date hereof,
whether as a result of new information, future events or
circumstances or otherwise.
The content of websites or website links mentioned or provided
herein are not part of this press release.
CONTACT: OTI Contacts:
Galit Mendelson
VP, Corporate Relations
732 429 1900 ext. 111
galit@otiglobal.com
Jay M. Meier
SVP, Business Development & Investor Relations,
OTI America, Inc.
732 429 1900 ext. 104
jaym@otiglobal.com
Investor Relations:
Norberto Aja/David Collins
Jaffoni & Collins
212-835-8500
otiv@jcir.com
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