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Odetics ITS Files Registration Statement for Initial Public Offering

20 December 1999

Iteris Inc., Formerly Odetics ITS, Files Registration Statement for Initial Public Offering

    ANAHEIM, Calif.--Dec. 20, 1999--Iteris Inc. (formerly known as Odetics ITS Inc.) Monday announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering of up to $50 million of its common stock.
    Bear, Stearns & Co. Inc. is the lead manager for the offering. Other managers for the offering include SG Cowen Securities Corp. and Cruttenden Roth Inc.
    The public offering will be made only by means of a prospectus, which, when available, may be obtained by writing to or calling the underwriters:

Bear, Stearns & Co. Inc. 3 First National Plaza, 26th Floor Chicago, Ill., 60602 312/580-4000

SG Cowen Securities Corp. One Financial Square, 27th Floor New York, N.Y., 10005 212/495-6000

Cruttenden Roth Inc. 24 Corporate Plaza, Suite 200 Newport Beach, Calif., 92660 949/720-5700

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
    Iteris designs, develops, markets and implements software based solutions that improve the safety and efficiency of vehicle transportation. Iteris is a leading provider of video sensor systems and transportation management and traveler information systems for the intelligent transportation systems industry. Iteris Inc. currently is a 93% owned subsidiary of Odetics Inc. . Iteris' headquarters are located in Anaheim. For more information about Iteris Inc. see the company's Web site at www.iteris.com.