Initial Orders for Infrastructure to Reach Around $750,000
Cupertino, CA – November 11, 2003 – On Track Innovations Ltd. (OTI) (NASDAQ: OTIV;
Prime Standard (Frankfurt): OT5), a global leader in contactless microprocessor-based smart
card solutions, announced today the first installation of its EasyFuel™ wireless petroleum
payment solution in Mexico. OTI is marketing EasyFuel with [email protected] Lleno™, a local provider
of support and marketing services. The first commercial implementation is planned for 57
CORPOGAS gas stations in 5 states in the center and south of Mexico, with the majority of
stations in Mexico City. The system is initially introduced to the station attendants, to increase
service speed at the island and eliminate fraud. The system is expected to expand to the
commercial fleets in the retail and government markets with applications for private motorists
planned in the future.
[email protected] Lleno™ is a Mexican company that provides Intelligent Administration Systems to
commercial fleets in Mexico and promotes the EasyFuel solution in the country. [email protected]
Lleno™ reached an agreement with CORPOGAS to become the first EasyFuel commercial
client in Mexico. CORPOGAS operates 57 stations throughout the country and was recently
recognized as the largest distributor of PEMEX gasoline. [email protected] Lleno™ plans to expand the
network in 2004 to additional gas stations and fleets that have expressed interest in the EasyFuel
solution. Mexico, the third largest producer of oil in the world, is an excellent market for
EasyFuel, with more than 6,000 gas stations nationwide.
The EasyFuel wireless solution represents the next generation of OTI’s gasoline management
system geared toward the North American and European markets. It is a totally wireless solution
for gas stations that dramatically reduces installation and maintenance costs, allowing for quick
and easy deployment, with a rapid return on investment. The system, developed over the past
four years is based on OTI’s patented technology that allows RFID smart tags to work in both
short and long-range situations.
The EasyFuel system has built-in benefits for the oil companies and commercial fleet operators.
Fleet companies eliminate non-authorized fueling and receive comprehensive billing and detailed
operating information. Operators can take advantage of the system’s pay-at-the-pump
capabilities and benefit from built-in loyalty programs. By controlling the distribution of fuel
electronically, fraud is greatly reduced while significantly decreasing the total service time. The
system also allows for 24-hour non-attendant sales and greater in-store purchases.
Several major oil companies, such as BP and Repsol, as well as commercial fleet companies,
have adopted OTI’s solution for petroleum payment and fleet management in Africa, South
America, and Europe. The fleet product has been operating in Africa via BP under the brand
name FuelMaster, and currently includes approximately 500 gas stations and 40,000 vehicles.
Oded Bashan, President and CEO, OTI, commented, “We are very pleased to announce the
installation of the EasyFuel solution in Mexico. EasyFuel is not only cost-effective and easy to
install, but helps to eliminate fraud associated with fleet management. We are happy to work
with [email protected] Lleno™ to bring EasyFuel to Mexico, one of the world’s largest petroleum
markets. We look forward to further expansion.”
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
micropayments, mass transit ticketing, parking, petroleum payment systems, loyalty programs,
ID 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, BP, EDS, First Data Resources, Repsol,
the Government of Israel and ICTS. For more information on OTI, visit www.otiglobal.com.
About [email protected] Lleno™ Sistema Inteligente de Administracion S.A de C.V.
[email protected] Lleno™ is a Mexican company that specializes in implementation of fuel control and
fleet management technology. The company’s personnel have more than 5 years of experience in
managing administration systems as well as in software development. [email protected] Lleno™ is
offering the Mexican market a complete solution to provide the highest level of security for all
potential clients in the Petroleum Market. For more information on [email protected] Lleno™, visit
This press release contains forward-looking statements within the meaning of the United States Securities laws,
including, but not limited to, statements about the expected installation of EasyFuel in Mexico and OTI’s expected
revenues from CORPOGAS, OTI’s products and their expected benefits, as well as expectations for their
performance and progress. Such statements are subject to certain risks and uncertainties, such as market
acceptance of new products, a deterioration of the strength of the fuel markets in other countries, our ability to
execute production on orders and the actual dispensing of fuel under systems using OTI products, which could cause
actual results to differ materially from those in the statements included in this press release. 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. 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 otherwise.
This press release and other releases are available on www.otiglobal.com and www.portfoliopr.com
Director of Corporate Communication, OTI
212 421 0333