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PassTime, Astrata Partner to Target US Fleet and Security Markets

December 09, 2008

LITTLETON, Colo. — PassTime has partnered with the Astrata Group to form PassTime Telematics Inc. (an Astrata Group Company), a joint venture company which will focus on the U.S. vehicle fleet management and asset tracking markets, along with the homeland security market.

The company will be majority owned and controlled by Astrata.

Passtime Telematics Inc. will target those markets using Astrata's range of advanced GPS tracking and PassTime's customer management solutions.

"We have been in discussions with Astrata since the beginning of this year and have been very impressed with their technology, expertise and management," said Stan Schwarz, PassTime's co-founder and CEO. "We have a significant user base of over 400,000 in North America. Our market presence combined with Astrata's advanced technology allows us to leverage this profile into new opportunities. We are very excited about this new venture, and I look forward to taking on the role of president for the new company and growing the American operations."

"Astrata has been looking for the right company to partner with in the U.S. to implement its strategic growth plans," said Anthony Harrison, Astrata's chairman and CEO. "PassTime is an excellent match and will give us the infrastructure from which to develop the Astrata brand in the U.S. PassTime's extensive dealer network will enable the new company to achieve critical mass in some very interesting new markets, which we will report on in the new year."

PassTime has over 400,000 telematics devices installed in the United States. These products range from basic starter control systems for sub-prime auto payment assurance to advanced personal vehicle management units.

Astrata is headquartered in Costa Mesa, Calif. and focuses on advanced location-based IT services and solutions that combine GPS positioning, wireless communications and geographical information technology.

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