Cybit Positioning Solutions Awarded £3.5m Contract with Seismic Equipment OEM

Cybit Holdings Plc ("Cybit"), the innovative Telematics Service Provider, today announces that its subsidiary Cybit Positioning Solutions has signed a significant contract with one of the world's major suppliers of heavy Land Seismic Exploration equipment.

Cybit will supply VHF radio based tracking and precise positioning equipment to this customer over a contracted seven year period. The contract is worth a minimum of £0.5million per year.

The Cybit Tracs - TDMA product will provide a cost effective, flexible and intelligent VHF radio network which is fully integrated with GPS positioning, to provide tight tracking and precise positioning control across land seismic spreads.

Replacing several radios within the one unit and integrating GPS has significant cost and operational advantages, leading to increased safety and operational efficiency in complex and expensive operations. This type of procedure is often carried out in environmentally challenging parts of the world.

Cybit's customer has previously purchased the product through its operational arm, but is now offering the system as a factory option. The customer has invested heavily in the technical infrastructure, making best use of the Cybit Tracs-TDMA functionality.

Tracs TDMA is a firmly established product which has proven itself in the harshest environments, from subzero temperatures within the arctic circle to the heat of the African Deserts, as well as in open marine environments. Cybit has deployments with most of the major Seismic contractors, several of the Oil and Gas majors, as well as fishing fleets, ports and harbours, and airports.

Richard Horsman, Chief Executive of Cybit commented;
" We already have an excellent working relationship with this customer. For the past three years, Cybit Positioning Solutions has been developing the customer's particular version of the Tracs TDMA product, which itself has been successfully sold for more than 15 years."

" We are delighted to have entered into this supply contract which further reinforces our long term position in this market. We are firmly established as a world leader in the provision of VHF and UHF combined positioning and tracking technology. This contract reinforces our strong, dominant reputation in the oil and gas exploration and production market."