euro adhoc: init innovation in traffic systems AG / other / init selected as preferred tenderer by Metro Tasmania - First major project for init in Australia

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06.12.2007

init innovation in traffic systems AG has been selected as the
preferred tenderer for a new state-of-the-art smart card ticketing
system by Metro Tasmania, the largest public transport provider in
Tasmania. According to Metro Tasmania, the Karlsruhe-based specialist
for telematics and electronic fare collection will install a smart
card ticketing system in its 220 buses, three depots und 30 ticket
agencies. The tender has a volume of around two million euros and is
init´s first major project in Australia. The contract between Metro
and init, as well as the exact details, will be fixed within the next
few weeks.

init has only recently extended its operations into the Asian-Pacific
region with the opening of an office in Australia in August 2007. The
Metro Tasmania project therefore is a showcase for init´s public
transport technology for the whole Asian-Pacific region.

Metro´s decision followed an extensive tender evaluation process that
began in April 2007. init´s smart card-based system, according to
Metro Tasmania, "is the best available technology" and "clearly
provided the best value for money option for Metro". The new system
will make travelling on Metro buses easier and enable Metro to
introduce a range of new services, as well as to more effectively
monitor the punctuality and reliability of its services.

Work on the system design phase of the project will commence before
Christmas. Manufacturing and testing phases will follow, with system
implementation scheduled for late 2008/early 2009.

end of announcement euro adhoc 06.12.2007 08:21:50
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ots Originaltext: init innovation in traffic systems AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: aweiss@initag.de

Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
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