SOURCE: On Track Innovations, Ltd.

September 09, 2005 10:46 ET

MIT Enterprise Forum to Feature OTI on Contactless Payments Panel

FORT LEE, NJ -- (MARKET WIRE) -- September 9, 2005 -- On Track Innovations Ltd, (OTI) (NASDAQ: OTIV) (Prime Standard [Frankfurt]: OT5) today announced that Ohad Bashan, head of global marketing and president & CEO of OTI America, will be speaking at MIT Enterprise Forum of Cambridge.

Bashan will participate in a panel on contactless payments at 6:30 p.m. on Monday, September 12, in MIT Tang Center, Bldg. E51-376, Cambridge, MA.

Mr. Bashan will share insight gained through OTI's 15 years of experience with contactless projects around the world. OTI is a global leader in contactless microprocessor-based smart card solutions, for homeland security, payments, petroleum payments and other applications.

For more information about the event please go to http://www.mitforumcambridge.org/RFIDSIG.html

About OTI

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, 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.

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, 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. Results could differ materially from expected results. OTI undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

Contact Information

  • Contacts:

    Galit Mendelson
    Director of Corporate Communications
    OTI
    1.201.944.5200 ext. 111
    Email Contact