SOURCE: Telvent

May 04, 2006 08:31 ET

Telvent to Control Traffic Systems in the Chinese City of Jincheng

MADRID, SPAIN -- (MARKET WIRE) -- May 4, 2006 -- Telvent GIT S.A. (NASDAQ: TLVT), the Global RealTime IT Company, today announced it has signed a contract for more than four million euro to implement a traffic control system in the Chinese city of Jincheng. This project is supported by the Development Assistance Fund (FAD in Spanish) that has given the Chinese government a loan to execute important infrastructure projects in the Asian country.

Jincheng, in the province of Shanxi, is located in central China. With a fast growing population of over half a million, the city requires increased traffic control infrastructure. Telvent's technology will help to reduce traffic congestion in Jincheng, while increasing safety for drivers and reducing environmental pollution.

Telvent's urban traffic control system will control the city's 20 main crossroads by closed-circuit cameras and traffic at more than 50 intersections. In addition, Telvent will install more than 50 Global Positioning Systems (GPS) in police vehicles. All data acquired by these systems will be processed in real-time at the city's traffic command and control center.

According to Telvent's chairman and chief executive officer, Manuel Sánchez Ortega, "The ongoing development of Telvent's business in China is a crucial element in our international expansion strategy. This project is of great importance for the company as we consolidate our traffic systems in the strategic Asia-Pacific area which is growing at a rate of more than 75 percent per year, and accounts for around 10 percent of our total billing."

Telvent has developed other important projects in the area, including the ring-road traffic management system for the city of Batou, in Mongolia, the Beijing highway network traffic management center, which will manage traffic on the access road network and ring-road highway network in Beijing throughout the 2008 Olympic Games.

Telvent (NASDAQ: TLVT), the Global RealTime IT Company, specializes in high value added solutions and services in four industry sectors (Energy, Traffic, Transport and Environment). Its technology allows high performing companies to make real-time business decisions using data acquisition, control, and advanced operational applications, providing secure actionable information delivery to the enterprise.

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