OTI Receives An Award By The U.S. Government For “‘electronic’ Passports”
Fort Lee, NJ, January 12, 2005–On Track Innovations Ltd, (OTI) (NASDAQ: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, micropayments, petroleum payments and other applications, today announced today that its wholly owned subsidiary, OTI America Inc. has been notified by the U.S Government Printing Office (GPO) that OTI America has received an award under the GPO EP 2004 solicitation to provide Electronic Passports to the US Government. The award is in addition to similar awards, announced in October 2004. It is anticipated that one or several companies will ultimately be selected for the production stage.
Ohad Bashan, President & CEO of OTI America, stated that “We are very pleased that the GPO has determined to make the award to us. We believe that, on the basis of the work that we will perform under the contract, the technology that we have developed for use in the growing world-wide market for personal identification and other homeland security applications we will be selected for use in the production stage of the U.S. passports.”
Established in 1990, OTI (NASDAQ: OTIV, Prime Standard: OT5) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, micro payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. Major clients include: MasterCard International, Atmel, BP, Scheidt & Bachmann, EDS, Repsol, and the Government of Israel. For more information on OTI, visit http://www.otiglobal.com.