Lane Departure Warning System Earns Highest Industry RecognitionANAHEIM, Calif. – April 13, 2005 – Iteris, Inc. (AMEX:ITI), a leader in the development of vision-based technology that enhances driver safety, today announced that its Lane Departure Warning (LDW) technology, jointly developed for Nissan with Valeo, won a 2005 PACE Award (Automotive Suppliers’ & OEMs Contributions to Excellence) in the product innovation category.The award which is sponsored by Automotive News, was presented Monday during a ceremony held in conjunction with the 2005 Society of Automotive Engineers (SAE) World Congress in Detroit. “We are honored to be recognized with this prestigious award for a product we believe will ultimately become as important to vehicle safety as the seatbelt," said Jack Johnson, CEO of Iteris, Inc. "This award further illustrates Iteris’ leading role in the introduction of new vision-based safety technologies that help prevent accidents,” concluded Johnson. The Lane Departure Warning (LDW) system was first installed by Infiniti last fall as an option on its FX crossover SUVs. Most recently, it became available as an option on the all-new 2006 Infiniti M mid-size luxury sedans. The Iteris Lane Departure Warning (LDW) system uses a vision-based camera and proprietary software algorithms to monitor the lane markings in front of the vehicle. If a driver makes an unintentional lane departure (without using a turn signal), the system automatically emits an audible warning that alerts the driver to take corrective action. The PACE Award program was established in 1994 by Automotive News and Cap Gemini Ernst & Young (CGE&Y), and has become a significant industry credential. The annual competition is sponsored by Automotive News, Cap Gemini Ernst & Young, and the Transportation Research Center, Inc. The PACE Award recognizes innovative automotive suppliers and original equipment manufacturers (OEM) that have adapted to keep on top of the changing landscape of automobile manufacturing. Judging is conducted by an independent panel of experts comprised from academia as well as the commercial side of the auto industry. Iteris adds this PACE Award accolade to an impressive list of honors that the LDW system has already received in the last year. These include being named one of “Ten Gadgets That Will Improve Your Life” by the editors at Forbes.com; CAA Pyramid Award for Safety Innovation; one of 50 leading technology innovations on the ‘Scientific American 50’; ‘One of the Most Valuable Products to be Introduced in Trucking for 2004’ by RoadStar Magazine; and to the ‘Nifty Fifty’ Best Products’ list by Heavy Duty Trucking Magazine. About Infiniti, the Luxury Division of Nissan North America, Inc. The 2005 FX and 2006 M are currently available at 172 Infiniti dealers nationwide. For more information on the complete line of Infiniti luxury vehicles and the Total Ownership Experience (TOE) philosophy, visit Infiniti online at www.infiniti.com. About Iteris, Inc. Iteris, Inc., is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. Iteris, Inc. is headquartered in Anaheim, California. Investors are encouraged to contact us at 714.774.5000, 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 roll-out and market acceptance of our LDW technology, the production schedules 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 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 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). |