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Pointer Announces Negotiations by Shagrir for Formation of a Joint Venture With a Third Party for the Provision of Services to Insurance Companies in the Field of Dental Care

June 24, 2009

ROSH HAAYIN, Israel, June 24 /PRNewswire-FirstCall/ — Pointer Telocation
Ltd. (Nasdaq Capital Market: PNTR, Tel-Aviv Stock Exchange: PNTR) – a leading
developer, manufacturer and operator of high-end technology and products for
AVL (Automatic Vehicle Location) solutions for stolen vehicle retrieval,
fleet management, car & driver safety, vehicle security and asset management,
and a leading provider of RSA (Road Side Assistance) services, today
announced that its subsidiary, Shagrir Systems Ltd., is negotiating the
formation of a joint venture with Multimatrix Ltd., a public company traded
on the Tel Aviv Stock Exchange.

The purpose of the joint venture is the possible purchase of 50% of the
activities of the IRM Group, which has been active for the past eighteen
years in providing services to insurance companies in the field of dental
care, for an amount of approximately NIS 20 million, subject to adjustments.
The agreement between Shagrir and Multimatrix and between the joint venture
and IRM Group would be subject, among other conditions, to the completion of
a due diligence review to the satisfaction of Shagrir.

About Pointer Telocation:

The Pointer Telocation Group, publiclly traded on Nasdaq (PNTR) and on
TASE (PNTR), develops, manufactures, provides and operates advanced command
and control technonogies for the automotive and cargo industries. With
500,000 installations in 25 countries around the world, The Pointer Group is
Israel’s leading exporter of state-of-the-art solutions for managing vehicle
fleets. As a service provider, The Pointer Group operates through its
subsidiary Shagrir Systems Ltd., that provides comprehensive solutions for
the automotive markets in Israel, Argentina, Mexico and Romania.

The Pointer Telocation Group is headquartered in Rosh Ha’ayin, Israel.
CEO is Danny Stern. For more information, please visit www.pointer.com

Safe Harbor Statement

This press release contains forward-looking statements with respect to
the business, financial condition and results of operations of Pointer and
its affiliates. These forward-looking statements are based on the current
expectations of the management of Pointer, only, and are subject to risk and
uncertainties relating to changes in technology and market requirements, the
company’s concentration on one industry in limited territories, decline in
demand for the company’s products and those of its affiliates, inability to
timely develop and introduce new technologies, products and applications, and
loss of market share and pressure on pricing resulting from competition,
which could cause the actual results or performance of the company to differ
materially from those contemplated in such forward-looking statements.
Pointer undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. For a more
detailed description of the risks and uncertainties affecting the company,
reference is made to the company’s reports filed from time to time with the
Securities and Exchange Commission.

    Contact:

    Zvi Fried, V.P. and Chief Financial Officer
    Tel.; +972-3-572-3111
    E-mail: zvif@pointer.com

    Yael Nevat, Commitment-IR.com
    Tel: +972-9-741-8866
    E-mail: yael@commitment-IR.com

SOURCE Pointer Telocation Ltd


Source: newswire



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