Ituran Location and Control Ltd. Announces Extraordinary General Meeting's Results

Ituran Location and Control Ltd. Announces Extraordinary General Meeting's Results

AZOUR, Israel, May 21, 2012/PRNewswire-FirstCall/ --

    At the extraordinary meeting of the shareholders of Ituran Location and Control Ltd.
(NASDAQ: ITRN, TASE: ITRN) (the "Company"), held on May 21, 2012, the following resolution
was adopted:

   
    1) To approve the agreement dated February 23, 2012 between Ituran Systems
      De Monitoramento Ltda. ("Subsidiary") and Mr. Avner Kurz, as more fully described in
      the proxy statement. A total of 12,410,036 ordinary shares (90.28%) voted FOR this
      resolution, of which 5,769,575 ordinary shares are held by shareholders who do not
      have a personal interest in the resolution (83.11% of the total number of votes by
      shareholders who voted and do not have a personal interest in the resolution),
      1,172,702 ordinary shares voted AGAINST this resolution and 163,830 ordinary shares
      ABSTAINED.
      The item on the agenda requires the affirmative vote of the holders of a majority
      of the voting power represented at the Meeting and voting thereat, provided that
      either (a) such a majority includes at least a majority of the votes of shareholders
      who lack personal interest voting on the issue (not including abstentions); or (b) the
      total of opposition votes among the shareholders who have no personal interest in the
      matter does not exceed 2% of the aggregate voting rights in the Company.
      Therefore, the resolution was adopted

    About Ituran

    Ituran provides location-based services, consisting predominantly of stolen vehicle
recovery and tracking services, as well as wireless communications products used in
connection with its location-based services and various other applications. Ituran offers
mobile asset location, Stolen Vehicle Recovery, management & control services for
vehicles, cargo and personal security. Ituran's subscriber base has been growing
significantly since the Company's inception to over 615,000 subscribers distributed
globally. Established in 1995, Ituran has over 1,300 employees worldwide, provides its
location based services and has a market leading position in Israel, Brazil, Argentina and
the United States.

    For more information, please visit Ituran's website, at: http://www.ituran.com

    Certain statements in this press release are "forward-looking statements" within the
meaning of the Securities Act of 1933, as amended. These forward-looking statements
include, but are not limited to, our plans, objectives, expectations and intentions and
other statements contained in this report that are not historical facts as well as
statements identified by words such as "expects", "anticipates", "intends", "plans",
"believes", "seeks", "estimates" or words of similar meaning. These statements are based
on our current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our control. Actual
results may differ materially from these expectations due to changes in global political,
economic, business, competitive, market and regulatory factors.

   
    International Investor Relations

    CCG Israel
    Ehud Helft
    ehud@ccgisrael.com

    Kenny Green
    kenny@ccgisrael.com
    Tel: +1-646-201-9246

Source: Ituran Location and Control Ltd