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Scania (ITI) Signs 3-Year Contract Extension for Iteris’ Lane Departure Warning Systems

Feb. 23, 2010 (Business Wire) — Iteris, Inc. (NYSE Amex:ITI), a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced that Scania, one of the world’s leading manufacturers of trucks and buses for heavy transport applications, has signed a three-year contract extension to continue to offer Iteris’ AutoVue® Lane Departure Warning (LDW) Systems as a factory-installed option on its heavy trucks. The contract period began at end of 2009 and extends through 2012.

The LDW system that Iteris provides to Scania is an active safety system that has been specially developed to take into account driver behavior as well as adverse weather conditions. This intelligent system warns the driver if the vehicle unintentionally crosses lane markings on the road. By monitoring steering wheel movement the system can also discern between intentional lane positioning as opposed to drifting caused by inattention.

“I am pleased that Scania has chosen to extend its contract to continue to provide Iteris’ AutoVue LDW Systems,” said Mr. Abbas Mohaddes, president and chief executive officer of Iteris. “Since the initial agreement in 2006, Scania has made the Iteris AutoVue LDW System a part of its safety offering for heavy commercial trucks. I believe this contract extension is another important step in solidifying our European LDW heavy truck business as we now have agreements with two of the largest European heavy truck OEM’s, Scania and MAN, through 2012.”

AutoVue LDW System

Iteris’ AutoVue LDW system is a small, integrated unit consisting of a camera, onboard computer, and sophisticated image processing algorithms. The system’s camera tracks visible lane markings and its algorithms detect when a vehicle drifts toward an unintended lane change. If this occurs, the system automatically emits a distinctive rumble strip or other audible warning, alerting the driver to make a correction. LDW is a proven, reliable technology that is well positioned to become an integral part of any comprehensive vehicle safety solution. A pioneer in vehicle safety technology, Iteris developed the world’s first production Lane Departure Warning System and is available as an OEM option in passenger cars and as an OEM and aftermarket option on heavy trucks worldwide.

About Scania

Scania is one of the world’s leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. A growing proportion of the company’s operations consist of products and services in the financial and service sectors, assuring Scania customers of cost-effective transport solutions and maximum uptime. Employing 32,000 people, Scania operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2009, invoiced sales totalled SEK 62 billion and net income amounted to SEK 1.1 billion. Scania press releases are available on www.scania.com.

About Iteris, Inc.

Iteris, Inc. is a leader in the traffic management market focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems infrastructure. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California, with offices throughout North America and in Europe and Asia. Investors are encouraged to contact us at 888-329-4483, or at www.iteris.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “seeks,” “estimates,” “may,” “will,” “can,” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the performance, acceptance and expected benefits of our technology including our AutoVue Lane Departure Warning Systems, our market opportunities both domestically and abroad and our strategies and our future prospects. These statements are subject to change and we undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to the market acceptance of our technologies and of the products that incorporate our technologies; commercial vehicle and automotive production schedules and agendas; the timing and successful completion of customer qualification of our products and the risks of non-qualification; market acceptance of our LDW system and the vehicles that incorporate our systems; our ability to specify, develop, complete, introduce, market, and transition our products and technologies to volume production in a timely manner; the potential unforeseen impact of product offerings from competitors and other competitive pressures; and the general economic and political conditions and specific conditions in the markets we address, including the general economic slowdown and volatility in the automotive and commercial vehicle sector. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

Tuesday, February 23rd, 2010 Uncategorized
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