MOSCOW, September 30, 2008

Access Industries Acquires Majority Stake in AutoLocator

Access Industries today announced that it has acquired a majority stake in AutoLocator, a leading service provider in the Russian telecommunications sector.  The acquisition positions Access Industries to participate in the rapidly expanding Russian automotive and telematics industries and provides expansion opportunities in Eastern Europe.

“Within the next few years the telematic unit and service will be considered a standard feature on all cars,” said Alex Genin, Managing Director, Access Industries CIS, LLC.  “With Russia becoming the largest auto market in Europe, AutoLocator provides an excellent platform for Access to take part in this increasingly important sector of the economy.”

According to Dan Vigdor, Chairman of AutoLocator, “The Russian auto and telematics markets are booming and are expected to overtake Germany in 2008.  There is a national priority to lower vehicle theft levels and accident rates and to protect peoples’ lives. The future is in-car ‘infotainment’ with each telematics unit offering a ‘picnic-basket’ of services.  Access Industries will bring invaluable financial market and strategic expertise to the business, together with a strong relationship network, thereby facilitating AutoLocator's growth possibilities and enhancing its ability to capitalize on future market sector developments and opportunities.”

AutoLocator, a successful “new technology” company, is the pioneer of Russian telematics.  It was the first company to launch vehicle anti-theft systems utilizing both radio and GPS/GSM location systems supported by chase teams and a Secure 24/7 Command and Control Centre.

AutoLocator continued its innovation by developing transport monitoring systems that, in addition to location monitoring, offers full driver behavior and vehicle diagnostics capabilities.  These high technology systems significantly reduce fleet expenses and increase customer profit. 

In 2008, AutoLocator jointly launched with Volvo Cars Russia a series of auto telecom services including eCall (emergency assistance), bCall (Roadside emergency services) and Theft Tracking through the “Volvo On Call” platform.  This is the first time in Russia that eCall and bCall are packaged with anti-theft services.  By quickly dispatching emergency services to an exact accident location, accident death and injury severity rates are reduced.