Celtron International Announces Contract Wins and Product Enhancements

    MIDRAND, South Africa--Jan. 17, 2003--Celtron International Inc. (OTCBB: CLTR) announced today that it has signed contracts to immediately install over 2,000 vehicle tracking devices, with indications to install over 5,000 units. New customers include Deelkraal Mine, Elands Rand Mine, Freegold Mine and South Deep Mine. The company expects to attain cash flow breakeven when it has installed 4,600 units. The company recently secured the necessary funding to meet its production target of 4,600 units and cash flow breakeven.
    Celtron has also completed development of its third generation GPRS based system and has begun production for delivery beginning in March 2003. "Our latest product enhancements have been the driver for significant contract wins over the past quarter," said Allen Harrington, Celtron's Chief Executive Officer. "We have upgraded our vehicle tracking systems to include telematics, which combine wireless telecommunications and information technology to bring key information to consumers," added Harrington.
    After a slow start in the mid-1990's, the telematics industry now has the infrastructure, technologies and partnerships in place to realize its full potential. Rapid expansion of the mobile Internet is the leading driver of consumer awareness towards mobile location-based services, according to Frost and Sullivan. As leading automobile manufacturers continue to battle for each percent of available market share, they are increasingly equipping their vehicles with sophisticated new technologies. By offering a range of innovative, integrated telematic technologies, including onboard navigation systems, vehicle and asset tracking, multimedia, Internet and even remote vehicle diagnostics, market participants are blending hardware and services to create a vibrant growth opportunity. Celtron is in discussions with a major automotive manufacturer to incorporate its GPRS technology and services into its line of vehicles.
    In addition to the consumer market, the commercial vehicle market is adopting Celtron's third generation technology to improve operational efficiencies, relationships with customers and drivers, safety levels and asset management solutions. The commercial market includes trucking, construction, mining, distribution, utilities, government and mass transit vehicles, emergency services, hazardous materials, private fleets and others. Celtron recently established operations in Western Europe where the market for telematics is expected to increase 500%.

    About Celtron International Inc.

    Celtron's platform technology is a flexible, mobile-cellular data communications device, coupled with a proprietary software system and integrated management services for the system. This technology is currently being integrated with GPS and applied in a sophisticated automated vehicle-tracking, management and recovery system offering a flexible, interactive solution to the total vehicle market, ranging from heavy commercial fleet-based vehicles, light commercial vehicles, to passenger vehicles.
    This suite of vehicle-tracking products and services consist of the "Buddi-Track," "Mobi-Track" and the software management system "Travel Partner."

    This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Celtron International Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.