Trakm8 Hldgs Regulatory News (TRAK)

24 Nov 2006 07:01

Trakm8 Holdings PLC24 November 2006 Embargoed until 7am 24 November 2006 TRAKM8 HOLDINGS PLC ("Trakm8" or "the Group") LAUNCH OF TRAKM8 SWIFT Trakm8 Holdings Plc (Trakm8), the AIM listed designer and developer of GPRSbased hardware and software for the vehicle tracking and security market,announces that it has launched of Trakm8 SWIFTTM, the revolutionary vehicletelematic service. Trakm8 SWIFT (TM) (Simple Web Interface For Tracking) is a low cost telematic unit which is simple to operate, with an annual commitment compared with the current industry standard of three years. Trakm8 SWIFTTM is geared towards the small fleet-user of up to 50 vehicles, enabling companies to manage the activityof their fleets in near 'real time'. Trakm8 SWIFT (TM) incorporates a number of cost saving and revenue enhancingfeatures including the monitoring of over speeding, excessive idling, vehicletracking and stopping times, which will allow managers to reduce their fleetrunning costs and increase their compliance with for example employee duty ofcare, which has been recently heightened through regulatory initiatives. Following a trial marketing period and the Group believes the service willsatisfy the pent up demand in small fleets for tracking services. This isreinforced by the current 100% agreement of companies who have met with Trakm8and agreed to resell the product. Based on this feedback the Board hasconfidence in the success of this exciting new tracking product which combinesweb-based delivery, low price and high functionality. The launch of Trakm8 SWIFT (TM) initiates the Group's transition from a hardwaredeveloper to a telematics service business. The Group sees significant benefitsthrough higher margin service and software revenues and through improvedrecurring revenue opportunities. Cary Knapton, CEO of Trakm8, commented, "We are dedicated to the roll out ofTrakm8 SWIFT as we see it as being a step-change in the vehicle telematicssector for the smaller fleet user. Its simple functionality, coupled with thedelivery of real-time information and cost saving benefits could, we believe,revolutionise the industry." (TM) Trade Mark - ends - For further information please contact: Trakm8 Holdings plc 01747 858 444Cary Knapton, Chief Executive Officer orTim Couling, Finance Director Tavistock Communications 020 7920 3150 Simon Hudson Vicky Watkins About Trakm8Trakm8, based in Shaftesbury, Dorset is the leading technology provider,designer and developer of GPRS based hardware and software to the vehicletracking and security market. The Company distributes its hardware and softwareworldwide through a network of distributors. In addition the Company providesASP vehicle monitoring and tracking services direct to the B2B market. Trakm8'sproducts allow vehicles and drivers to be monitored, allowing organisations tomanage deliveries and services, or track stolen vehicles down to 5 metres. This information is provided by RNS The company news service from the London Stock Exchange