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OTI America and Xerox Connect Sign Marketing and Reseller Agreement

Press release from the issuing company

Santa Clara, California and Stamford, Connecticut – OTI America, a wholly owned subsidiary of OTI (Neuer Markt: OT5), and Xerox Connect, a wholly owned subsidiary of Xerox Corporation (NSYE: XRX), today announced they have signed a marketing and reseller agreement to provide payment and information solutions for the U.S. campus market. The resulting relationship will provide end-to-end solutions for universities and corporate campuses. The two companies plan to start implementing the agreement in the first quarter of 2001. The innovative solutions of the agreement will meet a variety of market needs through OTI’s broad array of product offerings and Xerox Connect’s vast distribution and support network. The solutions range from copy cards utilizing traditional magnetic stripe technology, similar to ATM or credit cards, to contactless multi-application smart cards providing campus facilities with numerous applications such as access control, time and attendance, electronic purse, loyalty programs, and more. These contactless smart cards contain a microprocessor chip that can communicate with a smart reader when within close proximity rather than requiring the user to insert or swipe the card. Securely storing much more data than a magnetic stripe card, these smart cards function as miniature computers capable of performing short programs and calculations, and come in a variety of shapes such as a wrist watch or key fob, in addition to traditional credit card size. "This agreement furthers OTI’s strategy of fully leveraging our existing capabilities while expanding our customer base," said Ohad Bashan, President and CEO of OTI America. "Utilizing the InterCard acquisition through our relationship with Xerox Connect brings a complete suite of products and solutions to any customer seeking a comprehensive campus solution." "OTI has been very responsive to our needs and a great partner to work with," said Candido Arreche, Jr., National Director of Print Solutions for Xerox Connect. "Their innovative product line of "smart card" based technology coupled with Xerox Connect’s Network Print Management solution has solidified our position in many markets including corporate campuses."