OTIV On Track Innovations Ltd

On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV) announced today that on December 3, 2012, it received a NASDAQ Staff Deficiency Letter (the "NASDAQ Letter") notifying that OTI fails to comply with the majority independent board and audit committee requirements for continued listing on the NASDAQ Stock Market under Listing Rules 5605(b)(1) and 5605(c)(2), respectively.

Listing Rule 5605(b)(1) requires that a majority of a listed company's board of directors be comprised of independent directors, and Listing Rule 5605(c)(2) requires a listed company to have an audit committee comprised of at least three independent members. OTI's board of directors currently consists of three members, only one of which is an independent director.

The NASDAQ Letter provides that OTI has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, NASDAQ can grant an extension of up to 180 calendar days from the date of the NASDAQ Letter for OTI to demonstrate compliance.

The On Track Innovations Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5736

CONTACT: OTI Contacts:
         Galit Mendelson
         VP, Corporate Relations
         732 429 1900 ext. 111
         galit@otiglobal.com
         
         Investor Relations:
         Todd Fromer / Garth Russell
         KCSA Strategic Communications
         212-896-1215 / 212-896-1250
         tfromer@kcsa.com /grussell@kcsa.com