SAINT PAUL, Minn., March 1, 2004 (PRIMEZONE) -- Image Sensing Systems, Inc. (ISS) (Nasdaq:ISNS) announced today that the Autoscope Video Vehicle Detection System has been selected to fulfill the video detection requirements for a new state-of-the-art traffic management system currently being built in Athens, Greece. In recent years, the Ministry of Public Works began a massive reconstruction of the current roadway infrastructure and traffic management systems to accommodate the 2004 Olympic Games and replace its aging infrastructure.
The contract was awarded after Autoscope proved to be the best video detection system both in terms of its accurate performance and its extensive functionality. Our exclusive distributor for Greece, A.T.S. Traffic Systems is working with prime contractors, Siemens & ACTOR, installing 75 Autoscope Solo(R) Pro NC's and 75 AIS Cameras(TM). The AIS Cameras will be installed along major highways and intersections throughout the city of Athens and their video will be transmitted via fiber optic cable to the Solo Pro NC's, which will be installed in one of the two new traffic management centers. The Autoscope system will provide incident detection and traffic data collection.
Marina Tzelepis, Marketing Manager of ATS Traffic Systems commented, "This is the first large-scale machine vision application in Greece. As a result, it's a big step for the Autoscope technology in the Greek market and we feel confident many new projects will follow."
Graham Heywood, Managing Director of ISS European Operations commented, "We have been working with our local partner, ATS, for several years demonstrating our Autoscope technology on competitive trials in Greece. We consider this award highly prestigious and another indication that we are truly leaders in machine vision technology. It will be a special milestone for our ISS European operations to contribute to technology that will help improve traffic flows at the 2004 Olympics and for years thereafter."
Headquartered in St. Paul, Minnesota, Image Sensing Systems, Inc. combines expertise in image processing, hardware and software engineering, and communications to develop video vehicle detection systems for traffic management and control applications. The Autoscope vehicle detection system is the world leader in video detection for advanced traffic management systems for highways, tunnel incident detection, intersection control, and traffic data collection. The Autoscope system provides traffic managers the means to reduce roadway congestion, improve roadway planning, and improve cost efficiencies.
Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; the impact of governmental laws and regulations; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's Form 10-KSB for the year ended December 31, 2002.