Ocean Harvest T Regulatory News (OHT)

16 Jun 2005 07:00

Orad Hi-Tec Systems16 June 2005 16 June 2005 Orad Hi-Tec Systems Limited ("Orad" or the "Company") Orad completed first phase delivery of its HorseTrack system to the Hong KongJockey Club. Orad Hi-Tec Systems Limited (Symbol: OHT), world leader in virtual sets, on-airgraphics and sports production tools, announces today the acceptance by the HongKong Jockey Club of the main module of the HorseTrack system. HorseTrack is Orad's revolutionary system that allows for the first time, realtime tracking during sports events. The first implementation of the project iswith the Hong Kong Jockey Club at two of its venues. Following completion of a thorough acceptance testing process, the Hong KongJockey Club granted Orad with a provisional delivery of the system. Orad willcontinue supporting the project ensuring the on going satisfaction of the HongKong Jockey Club. "Over the last two racing seasons we have been testing theHorseTrack system during each of the racing days" says Mr. Steve Beason,Executive Director, Information Technology of the Hong Kong Jockey Club. "We areencouraged by the system performance and will continue working with Orad toexploit its full potential" Beason added. "The HorseTrack is one of Orad's key growth engines" says Avi Sharir, Presidentand CEO of Orad, "and this delivery marks a significant progress in the project.I'm pleased with the progress that was made and we will continue developingdedicated solutions for the horse racing industry" Sharir summarised. Orad and the Hong Kong Jockey Club will continue to work together in order tocomplete the full delivery of the HorseTrack system by the end of 2005. About ORAD Founded in 1993, Orad is a world leader in TV production technology and rapidlyincreasing its position in the Virtual Reality industry. Orad's lines ofproducts include virtual sets, on-air graphics systems, virtual advertising,sports production solutions and hardware for the Virtual Reality industry. Oradhas received extensive worldwide recognition for its systems at a wide-range ofevents including the 1999/2000 Emmy Award for the 'Implementation of Real TimeVirtual Imaging for Live Events on Television'. Orad is a publicly tradedcompany in the Prime Standard on Frankfurt's Wertpapierborse Prime Standard andAlternative 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 CapitalGraham Shore, London, UK 44 20 7408 4090 Haubrok Investor RelationsMichael Kempkes, Frankfurt, Germany 49 211 30126102 This information is provided by RNS The company news service from the London Stock Exchange