OTIV On Track Innovations Ltd

Approximately 18 Million Contactless Chips Incorporating OTI's Technology Delivered to the China ID Program FORT LEE, N.J., March 15 /PRNewswire-FirstCall/ -- On Track Innovations Ltd, (OTI) (Nasdaq: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that approximately 18 million contactless ID smart card chips incorporating the OTI technology were delivered to the China ID Project during the year 2004. According to certain news agencies in China, the aim of the China ID Project is to provide Smart ID cards nationwide by the end of 2008. Oded Bashan, President & CEO of OTI, noted, "We are proud to take part in one of the largest and most advanced identification project to date. We look forward to leveraging our technological advantage in future projects." About OTI Established in 1990, OTI (NASDAQ:OTIVNASDAQ:PrimeNASDAQ:Standard:NASDAQ: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. For more information on OTI, visit http://www.otiglobal.com/ 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. This press release and other releases are available on http://www.otiglobal.com/ and http://www.portfoliopr.com/ OTI Contact: Media Relations IR Contact: Galit Mendelson Adam Handelsman Paul Holm Director of 5W Public Relations PortfolioPR Corporate Communication, 212 999 5585 212 736 9224 OTI 201 944 5200 ext. 111 DATASOURCE: On Track Innovations CONTACT: Galit Mendelson, Director of Corporate Communication, of OTI, +1-201-944-5200 ext. 111, ; or Media Relations, Adam Handelsman of 5W Public Relations, +1-212-999-5585, ; or IR, Paul Holm of PortfolioPR, +1-212-736-9224, , both for OTI Web site: http://www.otiglobal.com/

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