Ocean Harvest T Regulatory News (OHT)

3 Jan 2006 13:32

Orad Hi-Tec Systems03 January 2006 Orad Hi-Tec Systems Limited ("Orad" or the "Company") Orad enters into an agreement with Shanghai Media Group Orad Hi-Tec Systems (Symbol: OHT) has entered into an agreement with ShanghaiMedia Group (SMG), located in one of China's most vibrant cities, to provide itsMaestro graphics and Xync systems to SMG's new News Center. SMG is seeking to centralise and expand its TV news output and has thereforechosen to provide their new News Centre with a complete end-to-end solution.Orad has agreed to provide SMG with a comprehensive solution, including Orad's3Designer creation suite, the newly released HDVG, Xync tracking technology forthe insertion of real time graphics, and a comprehensive package ofvisualisation enhancement from Orad partners. In addition, Orad has agreed toprovide its full Avid iNews and Control Air DM integration package to allowjournalists, editors and controllers to interact via Avid's end-to-end newssystem. Avi Sharir, Orad's President and CEO, believes this agreement with SMGrepresents another breakthrough for the Company: "SMG and Orad have beenco-operating since 1999. SMG already use many of Orad's systems andtechnologies, and we are very happy that they have chosen Orad again for theirprestigious new News Centre, the first ever in China to use an Avid end-to-endnews solution. SMG reaches more than 80 percent of the total population of Chinathrough their bouquet of news channels. This new agreement proves that ourgraphics, camera tracking and the new HDVG video graphics hardware are becomingthe standard in China, and with over 100 systems already installed in there, weare solidifying our position as the leading real time graphics solution in theGreater China market," concluded Mr. Sharir. 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 line of productsinclude virtual sets, on-air graphics systems, virtual advertising, sportsproduction solutions and hardware for the Virtual Reality industry. Orad hasreceived 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 Ofir Benovici, 972 9 7676 862 Director of Marketing ofirb@orad.tv Israel Shore Capital Graham Shore, London, UK 44 20 7408 4090 Haubrok Investor Relations Michael Kempkes, Frankfurt, Germany 49 211 30126102 This information is provided by RNS The company news service from the London Stock Exchange