Ituran Location and Control Ltd. Announces the Approval of the Israeli Commissioner for Trade Practices

AZOUR, Israel, November 27 -- Ituran Location and Control Ltd. today announced that further to its announcement made on September 14, 2006 concerning the execution of an agreement for an investment in E.R.M. Electronic Systems Limited, the Company hereby announces that yesterday the approval of the Israeli Commissioner for Trade Practices for the abovementioned investment was obtained. Accordingly, the Company anticipates the closing of the investment transaction shall be held within 7 days.

Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. Ituran's subscriber base has been growing significantly since the Company's inception to over 383,000 subscribers distributed globally. Established in 1995, Ituran has approximately 800 employees worldwide, provides its location based services and has a market - leading position in Israel, Brazil, Argentina and the United States. The company also sells its products in China and South Korea.