Re Contract

Orad Hi-Tec Systems
28 January 2005



Orad reports on progress with the Horse Track project for the Hong Kong Jockey
Club.


Orad Hi-Tec Systems Limited (Symbol: OHT), world leader in virtual sets, on-air
graphics and sports production tools today reported on progress with the Horse
Track project for the Hong Kong Jockey Club.

'Horse Track' is Orad's revolutionary system which, for the first time, enables
real time tracking of competitors' positions during sports events. The first
implementation of the project is with the Hong Kong Jockey Club at two of its
racecourses, where the system has been used at several meetings over a
considerable period.

The project entered its final acceptance testing in November 2004 with the aim
of final handover of the system by the end of the year 2004.  However, certain
technical issues arose during the final acceptance test which required
modifications and the final handover of the system was therefore delayed.

Currently, all known technical issues have been resolved and final acceptance
testing was resumed on 12 January 2005.

The handover of the Horse Track System to the Hong Kong Jockey Club is due to be
completed in the first half of 2005.


 About ORAD

Founded in 1993, Orad is a world leader in TV production technology and rapidly
increasing its position in the Virtual Reality industry. Orad's lines of
products include virtual sets, on-air graphics systems, virtual advertising,
sports production solutions and hardware for the Virtual Reality industry. Orad
has received extensive worldwide recognition for its systems at a wide-range of
events including the 1999/2000 Emmy Award for the 'Implementation of Real Time
Virtual Imaging for Live Events on Television'. Orad is a publicly traded
company at the Prime Standard of the Frankfurter Wertpapierborse and Alternative
Investment Market of the London Stock Exchange (symbol: OHT).


www.orad.tv


For further information contact:

  ORAD Hi-Tec Systems Ltd
  Avi Sharir, Israel                                         972 9 7676 862

  Shore Capital
  Graham Shore, London, UK                                   44 20 7408 4090

  Haubrok Investor Relations
  Michael Kempkes, Frankfurt, Germany                        49 211 30126102



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