ITIS Holdings PLC
05 March 2007
UPDATE ON MISSOURI CONTRACT
On 6th December 2005, the Company announced that an agreed form contract with
the Missouri Department of Transportation ('MODOT') had been approved by the
Missouri Highways and Transportation Commission.
However, as previously highlighted, due to circumstances beyond ITIS' control,
this project remained undelivered throughout 2006. During this time both ITIS
and its US partner, Delcan, remained in contract with MODOT whilst seeking, with
its involvement, a solution.
The Company is therefore pleased to announce today that having secured certain
data supply agreements it now anticipates delivering real time traffic
information during the first half of the 2007/2008 financial year. The scope of
this strategically important project remains unchanged but as originally
indicated the financial contribution is expected to be modest.
Commenting, Stuart Marks, CEO of ITIS, said: 'We are very pleased that we can
now focus on the delivery of the MODOT contract and we believe that supplying
our real time traffic information in Missouri will act as an excellent reference
site for ITIS in the US.'
- Ends -
Contact:
Stuart Marks, Chief Executive, ITIS Holdings plc - 0161 929 5788
Ginny Pulbrook, Citigate Dewe Rogerson - 0207 638 9571
Note to Editors
• ITIS Holdings plc, listed on AIM, is the UK's leading provider of traffic
information and vehicle security services. ITIS has invested in the development
of a unique system for the collection and analysis of traffic information, it
combines journalistic information with ITIS' historic and real-time Floating
Vehicle Data (FVD) to provide journey time forecasts and real-time updates.
ITIS now operates the largest commercial application of FVD anywhere in the
world, and delivers the content over a variety of platforms including RDS-TMC
(Alert C), digital radio and automated telephone services (IVR).
• ITIS traffic information is collated from a combination of journalistic and
real-time sources using its own FVD network. The data is then transmitted
directly to the TMC receiver using a carrier of the Classic FM radio network,
which provides coverage of 90% of the strategic road network.
• ITIS provide traffic data to all mobile phone providers. To receive up-to-date
traffic and travel information direct from your mobile 'phone call 64644 from
any network; 2222 from Vodafone; 2020 from T-mobile.
For further information please visit www.itisholdings.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.