On Track Innovations Ltd, (OTI) (Nasdaq: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced that Mr. Bashan, President and CEO will be presenting at the Credit Suisse First Boston Smart Card & RFID Conference being held at the CSFB London offices located at 20 Columbus Courtyard, Canary Wharf. The Conference is being held on Thursday, February 3rd, 2005 and Mr. Bashan will present from 4:20pm to 4:45pm. If you want to know about smart card and radio frequency identification technologies, this is the conference to visit.

On Track Innovations Ltd. (OTI) is a leading contactless smart card solution provider. Applications developed by OTI include product solutions for:

1. Smart ID - Homeland security solutions- national ID cards, e-passports
and medical cards.
2. Payments - Cashless solution for small ticket items.
3. EasyFuel - Petroleum payment systems.

This will be an excellent opportunity to meet with Mr. Bashan, President and CEO of OTI and receive an update on OTI's technology.

For further information on the CSFB Holt Smart Card & RFID Conference, please contact Deborah van Wyk, Equity Marketing & Roadshows, Tel: #44 207-888-0170 Email: deborah.vanwyk@csfb.com.

About OTI

Established in 1990, OTI (Nasdaq: OTIV, Prime Standard: OT5) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, micro payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. For more information on OTI, visit http://www.otiglobal.com

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although OTI believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Results could differ materially from expected results. OTI undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

This press release and other releases are available on http://www.otiglobal.com and http://www.portfoliopr.com

OTI Contact: Media Relations IR Contact:
Galit Mendelson Adam Handelsman Paul Holm
Director of Corporate 5W Public Relations PortfolioPR
Communication OTI 212 999 5585 212 736 9224
201 944 5200 ext. 111 ahandelsman@5wpr.com pholm@portfoliopr.com
galit@otiglobal.com