Ithaca Energy Regulatory News (ITH)

5 Mar 2007 07:00

ITIS Holdings PLC05 March 2007 UPDATE ON MISSOURI CONTRACT On 6th December 2005, the Company announced that an agreed form contract withthe Missouri Department of Transportation ("MODOT") had been approved by theMissouri Highways and Transportation Commission. However, as previously highlighted, due to circumstances beyond ITIS' control,this project remained undelivered throughout 2006. During this time both ITISand its US partner, Delcan, remained in contract with MODOT whilst seeking, withits involvement, a solution. The Company is therefore pleased to announce today that having secured certaindata supply agreements it now anticipates delivering real time trafficinformation during the first half of the 2007/2008 financial year. The scope ofthis strategically important project remains unchanged but as originallyindicated the financial contribution is expected to be modest. Commenting, Stuart Marks, CEO of ITIS, said: "We are very pleased that we cannow focus on the delivery of the MODOT contract and we believe that supplyingour real time traffic information in Missouri will act as an excellent referencesite 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 trafficinformation and vehicle security services. ITIS has invested in the developmentof a unique system for the collection and analysis of traffic information, itcombines journalistic information with ITIS' historic and real-time FloatingVehicle Data (FVD) to provide journey time forecasts and real-time updates.ITIS now operates the largest commercial application of FVD anywhere in theworld, 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 andreal-time sources using its own FVD network. The data is then transmitteddirectly 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-datetraffic and travel information direct from your mobile 'phone call 64644 fromany 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