On Track Innovations Ltd. Appoints New Chairman of Board of Directors

On Track Innovations Ltd. Appoints New Chairman of Board of Directors

ROSH PINA, Israel, April 30, 2013 (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, today announced that the board of directors
has elected Dimitrios Angelis to serve as its chairman and to replace Oded
Bashan, who retains a seat on the board. Mr. Angelis brings a wealth of
strategic, legal and business acumen to the chairmanship. He has over a decade
of experience as an accomplished attorney, negotiator, and general counsel to
public as well as private companies.

Mr. Angelis' appointment as chairman marks the start of a new chapter for On
Track Innovations ("OTI"). The Board will aggressively pursue value for
shareholders through each of its operating units and also through its patents
and intellectual property.

The board believes a level of legal sophistication is needed to more
aggressively maximize the financial benefit to shareholders of its patents and
intellectual property. The board anticipates there will be several upcoming
complex negotiations for licensing arrangements and potentially some legal
actions to protect OTI's patent rights.

On May 7th and 9th, OTI will be involved in Markman Claim Construction
Hearings in U.S. District Court in New York where OTI is a plaintiff alleging
patent infringement. OTI will continue to protect its intellectual property
and will push to maximize the value that OTI delivers to each of its
shareholders.

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.

Safe Harbor for Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal securities laws. Whenever we use words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate" or similar
expressions, we are making forward-looking statements. Because such statements
deal with future events and are based on OTI's current expectations, they are
subject to various risks and uncertainties and actual results, performance or
achievements of OTI could differ materially from those described in or implied
by the statements in this press release.For example, forward-looking
statements include statements regarding OTI's board's plans to look for ways
and successfully implement them to maximize the financial benefit to OTI's
shareholders taking advantage of OTI's patents and intellectual property and
the potential entry into licensing arrangements with respect to OTI's patents
and the potential of successfully taking legal actions to protect OTI's patent
rights.Forward-looking statements could be impacted by market acceptance of
new and existing products and OTI's ability to actually execute production or
delivery of such orders, as well as the other risk factors discussed in OTI's
Annual Report on Form 20-F for the year ended December 31, 2011, which is on
file with the Securities and Exchange Commission. 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. Except as otherwise required by law, 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 circumstances or otherwise.

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

CONTACT: Galit Mendelson
         VP, Corporate Relations
         732 429 1900 ext. 111
         galit@otiglobal.com

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