Flow Traffic Limited Receives Large Autoscope Order for Korean Highway Project
Contact: Craig A. Anderson, Vice President Marketing & Technical Services
Image Sensing Systems, Inc., Phone: 651.603.7700
Saint Paul, Minn., November 11, 2002 - Image Sensing Systems, Inc. (ISS) (NASDAQ Small Cap: ISNS) announced today that its wholly owned Asian subsidiary, Flow Traffic Ltd., has received an order, from a Korean distributor, for the supply of 133 units of Autoscope Solo® Pro vehicle detection systems. The end-user, the Korea Highway Corporation (KHC), will use the systems for incident detection and data collection. Delivery and installation will take place in the fourth quarter of 2002. Autoscope is one of only three video image detection systems approved for the KHC network of highways – the other two approved systems are made by local Korean manufacturers. This order follows a September contract, already delivered, to supply a system of 18 video detection cameras and the Autoscope® 2004 vehicle detection system for the Korean city of Busan.
Johan Billow, Managing Director of Flow Traffic Ltd., commented, "Following our previous success in implementing Autoscope in the city of Seoul, we are now very happy to see that our efforts to further pursue the Korean market is paying off. By the end of the year, we will have over 400 cameras installed in Korea and we are optimistic about our chances to increase these quantities considerably in the near future."
Flow Traffic is a supplier of a broad range of traffic management products and systems in Asia. The company, which has offices in both Hong Kong and Shenzhen, China, has been a subsidiary of ISS since April 1999.
Based in Saint Paul, Minnesota, Image Sensing Systems, Inc. is the world leader in products applying video imaging technology for implementation in advanced traffic management systems (ATMS) for freeway and tunnel incident detection, intersection control, and traffic data collection. The Company’s cornerstone Autoscope products provide traffic managers the means to reduce roadway congestion, improve roadway planning, and improve cost efficiencies. Image Sensing Systems, Inc. and Flow Traffic Ltd. are particularly suited to provide technical solutions to the growing intelligent transportation systems markets worldwide. imagesensing.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This report contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There are certain factors that could cause results to differ materially from those anticipated by some of the statements made, as listed in the Company’s 2001 Annual Form 10-KSB.
