Tiger Telematics, Inc. Announces the Execution of Key Agreement With RAC
JACKSONVILLE, Fla.--Sept. 16, 2002--Tiger Telematics, Inc., (OTCBB:TIGR) Tiger Telematics, Inc. announced today that it has entered into an important agreement to enhance its service offering. The subsidiary, Tiger Telematics, Ltd. based in London, will now be offering its customers roadside breakdown assistance in England through motoring organization RAC."This is another step in our program to increase our geographical coverage or to enhance our product offerings. This alliance is one of many previously announced that will allow Tiger Telematics to offer a top-end (high-end, enhanced) telematics offering to both consumers and commercial fleets," said Geoff Mitchell Managing Director, Tiger Telematics, Ltd. "With this best of breed partner in place we feel confident that we have one of the most comprehensive and cost effective offerings in the market for vehicle and driver security."
About RAC
Ever since its foundation in 1897, RAC Motoring Services has been consistently at the forefront in developing motoring services - from introducing uniformed patrols in 1901 and roadside emergency telephone boxes in 1912 right through to the present day when it boasts the world's most advanced computer systems to deal with calls for roadside assistance.
Six million RAC Members enjoy access to an enormous range of motoring products and services throughout their driving lives, ranging from roadside assistance in the event of a breakdown to continually updated legal and technical advice and up-to-the-minute travel information.
In 1999 Lex Service plc became the owner of RAC Motoring Services.
About Tiger
Tiger Telematics, Inc., provides mobile telematics products and services in Europe and in North America. Tiger's mission is to bridge the gap that exists between the telecommunications, computing and automotive industries by delivering a comprehensive telematics solution to the consumer, business and fleet markets.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms; and those risks discussed in the Company's filings with the SEC.