TMCnet News
Traffic.com(R) Welcomes 10 Additional Cities to Award-Winning TTID Partnership; Millions of Drivers in These U.S. Metropolitan Areas Will Benefit from Real-Time Traffic Information and Free, Personalized ServicesWAYNE, Pa. --(Business Wire)-- March 9, 2006 -- Traffic.com, Inc. (NASDAQ:TRFC), a leading provider of accurate, real-time traffic information in the United States, welcomes 10 additional U.S. cities selected by the United States Department of Transportation to participate in Part 1 of the Transportation Technology Innovation and Demonstration (TTID) Program. Under this legislation, Traffic.com is building and operating 27 integrated systems of digital traffic information in major metropolitan areas across the country to provide comprehensive, real-time traffic information. The additional 10 cities are: Atlanta, Charlotte, Denver, Indianapolis, Las Vegas, Minneapolis, New York/Northern New Jersey, Portland, Sacramento, and San Jose. During the next 180 days, Traffic.com will work closely with the agencies in these cities to finalize the TTID partnership agreements. Through Traffic.com's award-winning public/private partnerships, Traffic.com funds the equipment, maintenance, and ongoing operating expenses of expanded coverage in the TTID cities and offers integrated traffic data for the federal, state, and local agencies to use for planning purposes, emergency response, and highway operations. The partnership requires no maintenance or operating subsidies from the state and local agencies; provides innovative technological applications to use the data; and creates the opportunity to expand the system using commercial revenue. The partnership was awarded the "Best of ITS" in 2005 by the industry's trade group, ITS America. Currently, Traffic.com maintains TTID partnerships with 17 state and local government agencies in: Baltimore, Boston, Chicago, Detroit, Los Angeles, Oklahoma City, Philadelphia, Phoenix, Pittsburgh, Providence, San Diego, Salt Lake City, San Francisco, Seattle, St. Louis, Tampa, and Washington D.C. The traffic information provided includes flow data as well as traditional incident and event data, enabling drivers to make informed, fact-based decisions about route selection and departure times based on specific vehicle speeds, travel times and delay times. "Our partnerships through the TTID program further our goal of offering innovative, mutually beneficial opportunities to federal, state and local agencies," said David L. Jannetta, president of Traffic.com. "Building upon the success of our existing agency agreements, these new partnerships serve as an economical and efficient means for agencies to enhance their sources of data and provide their constituents with free, daily information that enables drivers to manage the multitude of traffic problems they encounter each day." Drivers in these 10 additional cities will have free access to this valuable traffic content via the Company's suite of my traffic.com(TM) services that include phone, Web, mobile and on-demand reports and alerts. Travelers can sign up for free alerts online at www.traffic.com. The TTID program is part of the SAFETEA-LU federal highway legislation and expands upon the original Intelligent Transportation Infrastructure Program (ITIP) created under TEA-21. It provides dedicated funding for traveler information data and services. As the result of a competitive contracting process, Traffic.com is constructing a national system of digital traffic information in major U.S. metropolitan areas to provide comprehensive, real-time traffic information. About Traffic.com, Inc. Traffic.com is a leading provider of accurate, real-time traffic information in the United States, based on the quality of its traffic data and the extent of its geographic coverage. Traffic.com offers detailed traffic information, including specific speeds, travel times and delay times. A sophisticated traffic information management system allows Traffic.com to process information in real-time and deliver customized reports to large numbers of radio, television, Internet, wireless and in-vehicle navigation system users. Traffic.com provides traffic information for 35 of the largest metropolitan areas in the United States, in such cities as Boston, Chicago, Houston, Los Angeles, New York, Philadelphia, San Diego and San Francisco. Traffic.com's data services customers include Microsoft, The Weather Channel(R), Motorola's VIAMOTO(TM) Solutions, XM Satellite Radio and XM NavTraffic(TM) for the Acura RL and Cadillac CTS. This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because these statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially, including Traffic.com's history of operating losses, risks associated with its recently expanded business model, the substantial competition it faces, its ability to maintain advertiser relationships and attract additional advertisers, its dependency on government contracts, possible failure of its traffic information management system, and failure to protect its intellectual property or to defend against intellectual property claims of others. These and other risks are described in greater detail in Traffic.com's filings with the Securities and Exchange Commission. Traffic.com may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Traffic.com disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. trfc-g The Traffic.com logo and my traffic.com are trademarks, and Traffic.com is a registered trademark of Traffic.com, Inc. All other product or service names or marks are the property of their respective owners. (C) 2006 Traffic.com, Inc. |
