init innovation in traffic systems AG

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init wins major VAG contract in Nuremberg

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New contract

06.11.2008

Karlsruhe, November 6, 2008. init innovation in traffic systems AG has won a major contract from the German transportation company Verkehrs-Aktiengesellschaft (VAG) in Nuremberg. Under the new deal, the Karlsruhe-based telematics specialist for buses and railways will set up a digital train control system based on the TETRA standard in the VAG service area, which covers Nuremberg, Fürth, Erlangen and Schwabach, and equip over 400 vehicles with hardware and software. The contract volume is clearly above 15 % of the annual sales of the init group.

The project is scheduled to start before the end of the year, with the bulk of work being carried out in 2009. Over 350 buses and 50 streetcars, as well as the VAG depots will gradually be fitted with radio equipment and on-board computers and integrated into the central control system (ITCS, Intermodal Transport Control System) of the public transportation company, which was also supplied by init. The contract further provides for functional customization of the software and the ITCS, as well as the supply of ticketing equipment.

end of announcement                               euro adhoc
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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
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade

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