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OTI

OTI Expands Network in Africa by Appointing BureauFax Technologies as Distributor in Nigeria

Rosh Pina, Israel (ots)

OTI (Neuer Markt: OT5) today announced
that its wholly owned subsidiary OTI Africa has entered into a
distribution agreement with BureauFax Technologies (BFT), a leading
payment systems integrator in Nigeria and a key player in launching
smart cards in that country. BFT will focus on OTI's contactless
microprocessor-based smart card solutions for secure payment and
loyalty, gasoline management systems, and applications for the health
care industry.
"We welcome BureauFax Technologies to OTI's distribution network
in Africa," said Oded Bashan, President and CEO of OTI. "Our presence
in Africa is growing rapidly as the market embraces our contactless
smart card solutions."
"We at BFT are excited about our agreement with OTI. We believe
the solutions offered by OTI are the most applicable to the needs of
the market and are committed to the success of OTI's superior smart
card solutions. We look forward to expanding OTI's presence in
Nigeria," said Tope O. Onabolu, Managing Director/CEO of BureauFax
Technologies.
This agreement will expand the market presence of OTI's patented
contactless microprocessor-based smart card solutions to the
financial services industry in Nigeria. BFT provides state-of-the-art
technology solutions to the financial services industry for payments
and transaction processing, and currently accounts for about 70% of
the clearing and processing market in the country. BFT's experience
in smart card technologies includes the launch of smart cards in
Nigeria with over 34 leading banks and the establishment of the first
full online multi-application payment system/ATM network. The
companies intend to leverage BFT's successes and existing
partnerships to secure projects in niche markets as well as in the
mainstream financial community.
"BFT is a premier partner in the financial services processing
arena in Nigeria," added Charlotte Hambly-Nuss, Managing Director of
OTI Africa. "With this agreement BFT will deliver OTI's secure,
user-friendly smart card solutions to the banking, petroleum, and
health care communities, enabling them to invest in a flexible
platform ready for future applications."
About OTI
Established in 1990, OTI (On Track Innovations) designs and
develops contactless microprocessor-based smart card technology to
address the needs of a wide variety of markets. Applications
developed by OTI include product solutions for mass transit, parking,
gas management systems, loyalty schemes, ID and secure campuses. OTI
has regional offices in the US, Europe, Asia Pacific, and Africa to
market and support its products. The company was awarded the
prestigious ESCAT Award for smart card innovation in both 1998 and
2000.  Visit OTI on the Internet at www.oti.co.il.
OTI Africa, a subsidiary of OTI Limited, is responsible for the
distribution, installation and maintenance of OTI's products and
technology in the African market. Users of the OTI technology have
access to an experienced and professional management team who lead
and guide dedicated functions in sales, marketing, installation,
technical, development and support services.
About BureauFax Technologies
BureauFax Technologies Limited ("BFT") is a company incorporated
in the Federal Republic of Nigeria on 11th March 1988 under the
Companies Act 1968 (as amended by CAMD '90). BFT's goal from the
onset was to develop seamless solutions leveraging innovative
technology and products that would most effectively fulfil the
performance requirements of financial service providers seeking to
add value to their customers at competitive costs. To establish an
enduring presence in a rapidly changing market, BFT has focused,
since its inception, upon being the preferred value-added reseller
and systems integrator.

Contact:

Frank Schwarz
Kirchhoff Consult AG
Tel. +49 69 7474 8615
Mobile +49 17 5221 1108
E-mail: frank.schwarz@kirchhoff.de

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