Ituran Location and Control Ltd. Announces Annual General Meeting's Results

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Jan 21, 2010, 08:42 ET

AZOUR, Israel, January 21 /PRNewswire-FirstCall/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) today announced that on January 21 2010, Ituran Location and Control LTD held an Annual General Meeting which approved the following:

       (1) To renew the appointment of the firm of Fahn Kanne & co. (a member
           firm of Grant Thornton international) as the Company's independent
           auditors for the year ending December 31, 2008 and until the
           Company's next annual general meeting and authorize the Audit
           Committee of the Company to determine their remuneration.

           The above was approved by 10,425,798 votes (87.52%).1,481,555
           Votes (12.43%) opposed and 5,149 votes (0.05%) abstained.

       (2) To approve the re-election of the following persons to serve as
           directors for additional period until third succeeding Annual
           meeting thereafter: Izzy Sheratzky 9,468,686 votes for
           (85.68%).410,362 votes (3.7%) opposed and 1,176,931 votes (10.66%)
           abstained, Gil Sheratzky 10,527,129 votes for (95.22%).410,362
           votes (3.7%) opposed and 118,488 votes (1.08%) abstained, Zeev
           Koren 10,530,305 votes for (95.25%).410,362 votes (3.7%) opposed
           and 115,312 votes (1.05%) abstained.

About Ituran

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. Ituran's subscriber base has been growing significantly since the Company's inception to over 549,000 subscribers distributed globally. Established in 1995, Ituran has approximately 1,200 employees worldwide, provides its location based services and has a market leading position in Israel, Brazil, Argentina and the United States.

For more information, please visit Ituran's website, at: http://www.ituran.com

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended. These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

    International Investor Relations

    [email protected]
    Ehud Helft

    [email protected]
    Kenny Green

    GK Investor Relations
    (US) +1-866-704-6710

SOURCE Ituran Location and Control Ltd