Re Joint Venture

RNS Number:4801Y
ITIS Holdings PLC
7 February 2001

                                                     7th February 2001


            ITIS Holdings announces joint venture with Minorplanet

              Representing breakthrough in consumer telematics.

ITIS Holdings plc (ITIS), the AIM listed telematics company specialising in
the provision of location based services to drivers, has today announced a new
joint venture with its strategic partner Minorplanet Systems PLC
(Minorplanet). The new joint venture company will commercialise products that
exploit technology developed by the Universities of Madrid and Barcelona in
regard to in-vehicle computing capability and genetic algorithms. As a result,
the joint venture company will launch two new products which will
revolutionise the telematics market and deliver cost and time saving benefits
to individual consumers and fleet managers alike.

ITIS has formed a new company which has purchased software and products from
Minorplanet and its Spanish subsidiaries for #1.7million in cash. The joint
venture builds on ITIS's innovation in consumer telematics services and
Minorplanet's market leading position in the provision of vehicle management
information systems. The joint venture will be held as a 100% subsidiary of
ITIS with the option for Minorplanet to acquire 50% of the subsidiary at any
time for a nominal sum. Minorplanet acquired the technology at the end of last
year and under this agreement, in addition to the #1.7million paid to
Minorplanet, ITIS has also committed to pay 20% (capped at #2million) of the
total earn out payable to the previous owners of the Spanish operation based
on profits in year three. The new company will own the license to the
technologies and share profits equally.

The products


        Mini-Navigator is effectively a covert mini PC which will fit
        alongside the existing Minorplanet AEM 4000 in-vehicle telematics unit
        (Minorplanet DCU) which in turn provides positioning information and a
        communications channel. The Mini-Navigator can pre-process data
        available within the vehicle, alerting a server if certain conditions
        are met. The principle applications for ITIS are in vehicle security
        and Floating Vehicle Data (FVD). In addition, the system will offer
        functionality including links to the vehicle's engine management
        system (CANbus). The key benefit of using a PC processor is the ready
        availability of development toolkits, protocols and programmers.

        Genetic Algorithms, so called because they mimic the process of
        evolution, are used for solving problems where there are a near
        infinite number of solutions and where the outcomes depend on complex
        combination of variables. This server based application will be used
        to develop solutions for navigation, dynamic re-routing and vehicle
        scheduling problems.

Stuart Marks (Chief Executive, ITIS) said, "The joint venture itself is a
clear demonstration of Minorplanet and ITIS working together and goes to the
heart of our agreement to co-operate on a worldwide basis."

"Mini-Navigator is the missing link in telematics. Combined with the
Minorplanet DCU, we can use this low cost 'client side' intelligence in
groundbreaking applications for our security and driver services business
NavTrak, as well as enriching our FVD model. In addition, the Genetic
Algorithm technology will further improve our server based capability to
deliver intelligent traffic solutions to drivers."

                                     Ends


Contact:

Stuart Marks

Chief Executive

ITIS Holdings plc

Telephone 0161 929 5788

Ginny Pulbrook/ Rupert Steveney

Citigate Dewe Rogerson

Telephone 0207 2282 2945
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