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DRI Corp. (TBUS) Anticipates Major Orders from Dubai for Mobitec(R) Products

Today before the opening bell, DRI Corp. announced that the Company’s Mobitec Group subsidiary in Sweden has received confirmation that it will receive several substantial orders for Mobitec(R) electronic information display systems (EIDS) on behalf of the Roads and Transport Authority’s Public Transport Agency transit bus vehicle fleet in Dubai, United Arab Emirates.

The Transport Agency’s new bus vehicle procurement includes over 1,600 double-decker, standard, and articulated buses of ranging sizes. According to the press release, orders for this large bus vehicle procurement are being placed through several bus vehicle manufacturers.

David L. Turney, Chairman, President and Chief Executive Officer, stated, “Orders from all of the bus vehicle manufacturers that we are to serve are expected to be entered in December 2008 and January 2009. Our part of the related EIDS orders will come from several of the bus vehicle manufacturers and should encompass the supply of EIDS to a majority of the total bus vehicles ordered by RTA.”

He continued, “In the initial phase of this expected order activity, Mobitec Group has executed a three-year frame agreement to supply EIDS to one of the bus vehicle manufacturers associated with this procurement. The agreement, which specifically includes RTA, may provide more than $8 million USD in potential revenues for the Company as related specifically to RTA’s requirements.”

“Delivery is expected to start in mid-to-late first quarter, span all of 2009, and continue into 2010. The RTA bus vehicle procurement is believed to be one of the largest ever made worldwide and we are excited to be involved. RTA is demonstrating a strong commitment to sustainable growth, environmental stewardship, road safety and energy conservation as it rolls out this investment. More details will be announced following the receipt and confirmation of the expected orders in January,” Mr. Turney concluded.

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