On Track Innovations Ltd. Announces Results of December 30 Extraordinary General Meeting

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ROSH PINA, Israel, Dec. 31, 2012 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, eID Systems and other applications, reports that the extraordinary general meeting of shareholders that was held on December 30, 2012 approved the election of Ms. Eileen Segall and Mr. Jeffrey E. Eberwein to serve as external directors of OTI for a three-year term starting on the date of the meeting and the election of Mr. Charles M. Gillman, Mr. Dilip Singh, Mr. Richard Kenneth Coleman, Jr., Mr. Mark Stolper, Mr. Dimitrios Angelis and Mr. John Knapp to serve as directors of OTI until the first general meeting of the shareholders of OTI to be held following the termination of a 36 months period commencing as of the date of the meeting.

About On Track Innovations Ltd. (www.otiglobal.com)

On Track Innovations Ltd. ("OTI") designs, develops and markets ID-credentialing, payment and loyalty applications based on its extensive patent and IP portfolio. OTI combines standards-compliant and state-of-the-art, contactless microprocessor-based technologies and enabling hardware with proprietary software applications to deliver high performance, end-to-end solutions that are secure, robust and scalable. OTI solutions have been deployed around the world to address homeland security, national ID, medical ID, contactless payment and NFC solutions, loyalty applications, petroleum payment, parking and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances.

The On Track Innovations Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5736

The content of OTI's website mentioned above is not part of this press release.

CONTACT: OTI Contacts: Galit Mendelson VP, Corporate Relations 732 429 1900 ext. 111 galit@otiglobal.com Media Relations: Joe McGurk/Elizabeth Austin KCSA Strategic Communications 212.896.1241/212.896.1231 jmcgurk@kcsa.com/eaustin@kcsa.com Investor Relations: Todd Fromer / Garth Russell KCSA Strategic Communications 212-896-1215 / 212-896-1250 tfromer@kcsa.com /grussell@kcsa.com

Source:On Track Innovations Ltd.