New York, USA, July 2, 2003. Orad Hi-Tec Systems (Neuer Markt: SIN 928 634), a world leader in virtual sets, broadcast graphics and sports technologies, (Neuer Markt: OHT.f) and Post Time Technologies Inc., (www.posttimetech.com) announced today the signing of an 'Exclusive Distributor's Agreement" for Orad's HorseTrack system for the U.S. and Canadian Thoroughbred, Harness and Greyhound racing industries

The Agreement also provides Post Time with the exclusive rights for the sale of data streams derived from Orad products to racetracks, information and data providers, resellers and the general public through Post Time's North American distribution channels and Affiliate Partners. In addition, Orad's standard broadcast equipment will also be offered to the U.S. and Canadian racing industries through Post Time's marketing arm.

HorseTrack - is a revolutionary tracking and identification system for sports events based on wireless technologies. HorseTrack, which targets broadcasting as well as the on-line webcasting market, is set to revolutionize the industry with its ability to produce broadcast enhancement and live webcasts of horse racing over a narrowband link. This technology is ideal for on-line gaming and betting.

Avi Sharir, Orad's Co-Founder, President & CEO stated that: "HorseTrack is one of Orad's biggest growth engines generating unique data assets and bringing the horse race experience and betting capabilities to new audiences at the on track, home and on the move. Post Time Technologies with its vast experience in the industry in the North American market is the ideal partner for this venture".

Over the past year and a half, the Hong Kong Jockey Club (HKJC) has tested the tracking ability and accuracy of the system and generated a live graphical display races in real-time. Orad has recently completed the first installations of the system at the HKJC's Happy Valley and Sha Tin Race Courses. The technology is expected not only to augment the HKJC already extensive horse racing & training databases, but also enrich the experience of the viewers at the track as well as those watching races on TV and on the Internet.

Hardave Gill, President & CEO of Post Time Technologies stated; "We are very pleased to be chosen by Orad as their exclusive North American representative for this incredible technology. HorseTrack promises to revolutionize the way patrons view live race broadcasts while at the same time providing real-time analytical data. The system has the ability to create the most comprehensive value-added historical data which will change and enhance the entire handicapping process."

HorseTrack uses advanced, proprietary wireless technologies to continuously track the locations of miniature tags that are attached to the jockey's helmets. The data is updated 30 times per second, with the system able to track up to 30 tags simultaneously.

HorseTrack enables live webcasting of horse racing over the Internet thus overcoming the bandwidth constraints associated with video streaming on the Internet following the same concept of TOPlay, Orad's soccer webcasting product jointly developed with Intel.

This unique information will provide a nucleus database for an archive, servicing handicappers, and used to determine statistics not available at present (such as a virtual race, fatigue rates etc.).

The output will be broadcast across all possible media channels: kiosks and monitors throughout race tracks, OTBs and simulcast facilities, television, web and cellular devices. HorseTrack's display can be either 2D or 3D in amazing quality and allows the viewer/user to choose different point of views, select a horse etc.

Gill went on to say, "The HorseTrack system promises to change the way horses are timed or tracked during races and workouts, and improve the degree of accuracy of the resulting data. HorseTrack's ability to provide individual fractional times for each runner in a race, at each point of call, is something that every racetrack and handicapper has been waiting for. The resulting data, graphics and instant 2D or 3D replays are a natural fit for Post Time's established on-track kiosks and carrels, as well as our Internet distribution networks such as RaceReplays.com and our soon to be deployed wireless platforms."

Orad will be integrating HorseTrack with its IMadGINE, CyberSport and 3D On Air Graphics systems thus allowing the real time object and camera tracking to provide the ultimate sports broadcasting experience.