OTI’s Voter ID System, Based on its Magna™ Platform, Performs Electorate and Candidate Management to Ensure "One Person - One Vote"
On Track Innovations Ltd, (OTI) (NASDAQ-GM: OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments, eID Systems and other applications, announced today that it has signed a contract with the Electoral Commission of an African Country to implement the upgrade of the Country’s Permanent Voter Registry, including new biometric-based voter cards. The value of the initial contract is over $2 million, with more than $1 Million expected to be realized in 2008
The project’s objectives are to verify the voter identity, detect and avoid double registration attempts, and issue a new Voter ID card bearing advanced security features, which will be used in the next elections. The system will ensure "one person - one vote"
As part of the contract, OTI will supply its end-to-end solution, based on its proprietary state-of-the-art Voter ID Registry Magna™ platform. OTI’s Voter ID system provides advanced software for electorate management, a candidate management system, objections & appeals handling and provides secure biometric voter ID cards to all of the country’s eligible citizens. OTI will also provide mobile enrollment (stations, and will incorporate a biometric Automatic Fingerprint Identification System (AFIS
OTI’s solution supports both online and offline communication, thereby allowing every citizen, from cities to rural areas to vote, regardless of the area’s communication infrastructure. The solution is designed to provide maximum accuracy and security while being user friendly Oded Bashan, Chairman and CEO of OTI, stated, “OTI’s Magna™ system demonstrates our breadth of solutions, as our voter ID card is a natural extension of national ID cards and electronic passports. OTI's end-to-end Magna ™ based solution, complemented by the company's knowledge and experience, allows countries to access a quick and cost effective path to implement secured identification and verification needs, regardless of the country’s size and telecommunication infrastructure”
Mr. Bashan continued, “This project is another example of OTI's successful integration of complementary technologies, products and capabilities with those we acquired from SuperCom 18 months ago”
Established in 1990, OTI (NASDAQ-GM: OTIV) 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, 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 Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards
Safe Harbor for Forward-Looking Statements
This press release may contain 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 "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 those regarding the expected income to be generated from the upgrade of the African Country’s Permanent Voter Register including new biometric-based voter cards or regarding the superiority of our technology and solutions. 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, 2007, 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