OTI Delivers Garanti Bank of Turkey Contactless Card Solutions

Program is Part of MasterCard(R) PayPass(TM) Launch in Europe 


FORT LEE, N.J., Sept. 5  /PRNewswire-FirstCall/ -- On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced today that it is providing Garanti Bank of Turkey 'Tap & Go(TM)' inlay solutions. As previously announced, Garanti bank is reissuing "Tap & Go(TM)" cards, which use MasterCard PayPass technology, to its Bonus cardholders.

Mehmet Sezgin, General Manager, Garanti Payment Systems, said: "OTI's extensive experience provides a reliable and cost-effective way to bring contactless solutions to our market. The possibility of any form factor necessary such as inlays, key fobs, wristwatches, including reader solutions, will help us differentiate ourselves in Turkey's highly competitive payments market.

Garanti Bank is the third largest private bank in Turkey.

Oded Bashan, Chairman, President and CEO of OTI commented: "We are happy to support Garanti bank in its initiative for contactless payments. With OTI experience and expertise, we allow our customers to introduce a cost-effective, reliable and secure solution in short time to market."

About OTI

Established in 1990, OTI (NASDAQ:OTIV) 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, loyalty programs and secure campuses. 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. For more information on OTI, visit http://www.otiglobal.com/.

Safe Harbor for Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws.  Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements.  Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release.  For example, forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations.  Forward-looking statements could be impacted by market acceptance of new and existing products and our ability to execute production on orders, as well as the other risk factors discussed in OTI's Annual Report on Form 20-F for the year ended December 31, 2005, which is on file with the Securities and Exchange Commission.  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 circumstances or otherwise.

   OTI Contact:                                   Media Relations
   Galit Mendelson                                Adam Handelsman
   Director of Corporate Communications           5W Public Relations
   201 944 5200 ext. 111                          212 999 5585
                               

DATASOURCE: On Track Innovations Ltd.



CONTACT:  Galit Mendelson, Director of Corporate Communications of On

Track Innovations Ltd., [phone], ext. 111, ; or

Media Relations: Adam Handelsman of 5W Public Relations, [phone],

 



Web site:  http://www.otiglobal.com/ 

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