PARX, OTI's Subsidiary, Expands EasyPark(TM) to Montpellier, the 8th Largest City in France

On Track Innovations Ltd, (OTI) , today announced that its subsidiary, PARX Ltd., is expanding its parking solution to Montpellier, the 8th largest city in France with more than 500,000 residents in the city's metropolitan area.
Parx logo.jpgMontpellier is the second city in France adopting the parking solution just two months after the announcement on Reims being the first city to adopt EasyPark(TM) in France. PARX France is PARX's subsidiary and is acting as the local operator in France. PARX France is planning to expand the program to more cities next year. The EasyPark product is sold in France under the brand name Piaf 2.

EasyPark(TM) is OTI's patented in-vehicle electronic parking meter. The EasyPark(TM) business model is one in which revenues are generated from product sales and recurring transaction fees revenues.

Oded Bashan, Chairman & CEO of OTI said, "EasyPark(TM) is an easy-to-use, cost effective solution that requires minimum infrastructure investment, which makes it an attractive parking payment tool for municipalities for on-street parking and parking lots worldwide."

Using Piaf 2 the driver pays only for the actual parked time. To activate Piaf 2 the driver turns on the contactless unit and places it in the car window. Upon returning, the driver turns the device off. This creates a uniquely convenient user experience by eliminating the need for cash, change, and saving the time looking for parking meters. Piaf 2 can be used for both on-street parking payments and for parking lots. Piaf 2 provides detailed reports to the municipality in order to better manage and monitor parking patterns across town. The parking system is able to support multiple rates, cities, tariffs in a modular, scalable and easy to implement way.

EasyPark system is the largest field tested in-vehicle parking meter implementation of its kind with more than 30 cities and 600,000 users around Israel. Late last year OTI and PARX have announced the introduction of EasyPark in Italy and Bermuda as well.

About OTI

Established in 1990, OTI 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 and loyalty programs. 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.

About PARX

PARX Ltd. is a subsidiary of On Track Innovations Ltd. (OTI) responsible for marketing, operating and distributing advanced parking solutions, including the EasyPark TM product, in international markets.
On Track Innovations Ltd
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