Micronet Receives $1,900,000 New Order for its TREQ®-317 On Board Computer

MONTVALE, N.J., Nov. 17, 2017 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that its Mobile Resource Management (MRM) subsidiary, Micronet Inc., has received a purchase order from a current customer, a leading U.S. telematics service provider, valued at $1,900,000 for its TREQ®-317.

In the last 7 months Micronet has received orders for an aggregate of over $14 million, which it believes continues to demonstrate the strong demand for Micronet's state of the art technological solutions for the telematics and the electronic logging device (ELD) market.

The TREQ®-317 is a rugged Android™ based fix-mount on board computer offering advanced functionality at a competitive price. Micronet's TREQ®-317 enables its users to provide real-time monitoring of both vehicle and driver activity and is fully compliant with ELD regulations.

"We are very pleased to continue working with our valued customers. We believe that new orders from current customers are a clear indication of the value our products deliver in the MRM space. We believe that the continued and increasing demand for our advanced Android based computing systems supports Micronet in expanding its product offerings and becoming a leading provider in the rapidly expanding MRM/telematics market," said David Lucatz, Chief Executive Officer of Micronet Enertec Technologies, Inc.

About Micronet Enertec Technologies, Inc.

Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial MRM market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing the defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities.  MICT's MRM division develops, manufactures and provides mobile computing platforms for the mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction.

Forward-looking Statements

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding the Company's belief that new orders from current customers are a clear indication of the value its products deliver in the MRM space and demonstrate the strong demand for Micronet's state of the art technological solutions for the telematics and the ELD market, as well as the Company's belief that the continued and increasing demand for its advanced Android based computing systems supports Micronet in expanding its product offerings and becoming a leading provider in the rapidly expanding MRM/telematics market. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2016 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE Micronet Enertec Technologies, Inc.

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