AGM Statement

RNS Number:9335J
ITIS Holdings PLC
13 September 2001

                              ITIS Holdings PLC

                            Annual General Meeting

                         Thursday, 13 September 2001

Sir Trevor Chinn, Chairman of ITIS Holdings included the following update in
his speech at the company's AGM today.

"At present ITIS Holdings derives the majority of its revenues from the sale
of NavTrak units and subscriptions, although this will change during the
course of next year as the number of RDS-TMC contracts increase and vehicle
manufacturer demand for our services grows. In July we ceased subsidising the
NavTrak unit in order to focus on developing services with manufacturers. We
continue to sell NavTrak but not to subsidise the box and are encouraged that
sales have held up better than anticipated and we intend to build upon this
whilst controlling costs.

Our Floating Vehicle Data network is ahead of schedule due to the successful
acquisition of probe vehicles. We are pleased to announce that, in addition to
our contract with National Express, we are now installing units for FVD across
the entire Eddie Stobart fleet comprising some 750 vehicles. These vehicles
travel over 100 million miles in total each year and will significantly
enhance the quality of our data. We are also in negotiation with similar
organisations and are delighted with the industry's response to our
initiative.

Some of the companies from which we are collecting data have a requirement for
vehicle management information (VMI) and ITIS has reached agreement with
Minorplanet to resell its market leading VMI software. This has the further
benefit to ITIS of generating revenues to offset the costs of developing and
operating the FVD network.

We remain confident that during the current financial year ITIS will achieve
revenue growth as manufacturer demand for in-vehicle services continues to
emerge. ITIS' services are now well known and are highly regarded by vehicle
manufacturers as is evidenced by the recent contract wins. We announced on
Monday, 10 September 2001 a further contract success, for our RDS-TMC service
with VDO, which is the market leader for in-car navigation systems. Under this
agreement with ITIS, customers will be offered the opportunity to buy an
enhanced CD ROM which is coded in such a way that enables the RDS-TMC service
to be received. This enhanced CD ROM will also be available to VDO's extensive
existing aftermarket base of 50,000 customers. VDO also supplies factory fit
navigation equipment to motor manufacturers including BMW, Land Rover, Renault
and Peugeot.

We announced at the publication of the 2001 Final Results on 28thJune, that
ITIS were in advanced negotiations with a major vehicle manufacturer to
provide a range of services. Following the announcement, the manufacturer
significantly extended the scope of its requirement, which has delayed the
award of the contract. ITIS will make a further announcement once the
negotiations have reached a satisfactory conclusion.

We are pleased with the progress the company has made since flotation and are
confident that our strategy will build value for our investors."

Enquiries

ITIS Holdings                                   Tel - 0161 929 5788
Stuart Marks, Chief Executive
Citigate Dewe Rogerson                          Tel - 020 7282 2945
Ginny Pulbrook
Charles Vivian

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