Höft & Wessel and PSI Agree on Strategic Cooperation

Cooperation in international public transportation market

Berlin and Hanover, 11 January 2006 --- PSI AG and Höft & Wessel AG have agreed on a strategic cooperation in the field of transportation systems. The aim of this cooperation is to offer integrated solutions, consisting of ticketing and telematics systems to handle the increasing demand for public transportation.

Höft & Wessel has a wide range of products for ticketing. This includes world leading solutions for busses and trams, air and rail which are characterised by state-of-the-art technology and an open platform system. PSI Transportation, a wholly-owned subsidiary of PSI, provides control, logistics and information systems for traffic and transport companies. The fully configurable operation control system PSItraffic was newly developed in the past few years and has already gained a leading position in the market.

The demand for integrated ticketing and telematics solutions in public transportation will continue to increase in the coming years as a result of European-wide liberalization. Höft & Wessel and PSI offer a complete system to the customer that combines the market leading solution in ticketing and telematic. The strategic partnership between Höft & Wessel and PSI Transportation is oriented toward the entire European and international market and provides both companies with an important competitive advantage in the expansion of international business.

PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of large networks (electricity, gas, oil, telecommunications, transport), cross-company production management (steel, chemicals, machinery, automotive, logistics) and information management for government and service providers. PSI was founded in 1969 and currently employs 1,050 persons in the group. www.psi.de

Höft & Wessel AG develops, manufactures and sells hard and software. In the three businesses - Trade & Logistics with Mobile Data Acquisition, Metrics and Internet, Ticketing & Transport and Parking - the company offers package systems. Since the company was founded in 1978 Höft & Wessel has successfully delivered numerous small and medium-sized custom-made projects.

Contact Information

Anne Bentfeld

Manager Investor Relations and Public Relations

Höft & Wessel AG

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