• Nanyang Technological University awards an intelligent electronic parking system contract of S$2.92 million
  • Single largest wide area networked electronic parking system contract
  • Stratech steps up sales and marketing of intelligent parking globally
SINGAPORE, February 7th, 2006 - Mainboard listed, advanced IT systems and technology developer, Stratech Systems Limited ("Stratech"), has been awarded a contract of S$2.92 million to deliver an electronic parking system to Nanyang Technological University ("NTU"). It is the single largest wide area networked electronic parking system contract.

Stratech revolutionized parking in Singapore and the world with cash-less and token-less parking in 1998. Building on the Group's experiences, Stratech will now empower the 24 car parks located across the NTU campus with state-of-the-art technology of networked intelligence for central monitoring and remote operations. This would allow optimization of land use through moderating demand of car parks and manage vehicle usage and traffic flow on campus.

"Even as we are focusing on bringing our technologies global, we have not lost our attention on the local market", said Executive Chairman and CEO David K.M. Chew. "We invented intelligent parking, and the award of this contract validates Stratech's technology leadership. With patent rights secured in Singapore, Hong Kong, Korea, Australia and New Zealand, and several other countries pending, Stratech is well-poised to leverage on its expertise of implementing mega real-time mission-critical systems to revolutionize parking globally."

Moving towards the future of intelligent parking, Stratech has stepped up sales and marketing of Parkvasive™, an intelligent next generation pervasive parking management solution to the global market. Utilizing a network of cameras and sensors, Parkvasive™ performs real-time vehicle access control and surveillance by identifying and tracking vehicles from their time of entry to their exit. Parkvasive™ provides the occupancy status of the car park, directs drivers to vacant lots and displays the location of the parked vehicle through automated kiosks and handheld devices. This breakthrough technology also enables dynamic pricing via location-based charging, allowing car park operators to optimize parking resources and maximize revenue.

About Stratech Systems Limited

Stratech Systems Limited ("Stratech") is an emerging world-class Advanced Technology and e-Systems developer. Stratech delivers large-scale real-time mission critical systems for Governments and Businesses in the Homeland Security / Defense, Transportation and e-Business / e-Government markets. Stratech brings together world-class expertise, software, intellectual assets and unique technology capabilities in the areas of Computer / intelligent Vision (iV), intelligent Transport Systems (iTS) and e-Systems to enable her customers to meet existing and future operational challenges, gain significant strategic advantage and seize new business opportunities. Stratech focuses on providing products and solutions to real-world challenges where traditional IT technologies are inadequate. Stratech's "Connected Reality" solutions exploit state-of-the-art Info-Comm Technologies that connect the Net and the real-world more effectively and transparently, thereby enabling customers to leverage on the power of the Net to solve difficult real-world challenges.

Formed in 1989, Stratech has established an impressive track recording serving customers in industries such as Government, Homeland Security, Defense, Transportation (land, air and sea), Aerospace, Healthcare and Financial Services. Stratech is recognised as a leader in innovation and technology, is extremely entrepreneurial, developing and implementing advanced technology solutions that achieve significant business transformation and competitive advantage for its customers.

Listed on the Main Board of the Singapore Exchange, Stratech is headquartered in Singapore and targets markets in Asia, the Middle East, Australia, Europe, North and South America.

For more information, please contact:

Gary Tan
Corporate Communications Division
Tel: +65 6799 6650
Fax: +65 6323 2177