National Press Release

Advanced technology to enable automobile recovery

UNIVERSITY PARK, Ill., July 7 /PRNewswire-FirstCall/ --MVTRAC, a leading technology service provider in the auto finance and recovery industries, has selected Federal Signal's advanced automated license plate recognition (ALPR) technology to facilitate recovery of automobiles.

Federal Signal's ALPR cameras capture images of license plates. The images are processed through powerful optical character recognition (OCR) engines that convert the images into data. The data is then checked against a real-time database of vehicles wanted for repossession by finance companies. MVTRAC geo-targets the vehicle with Global Positioning System (GPS) technology to enable immediate recovery of the collateral. Federal Signal's ALPR technology can help MVTRAC expedite the often lengthy vehicle recovery process. The result? Reduced asset depreciation and the potential generation of billions of revenue dollars for the auto finance industry.

Speed asset recovery

"Due to the dramatic reduction in loan portfolio values and fewer purchasers of such portfolios, now more than ever lenders need to locate and recover their collateral. With today's rapidly decreasing market value of automobiles, longer recovery time means greater asset depreciation -- and that translates to greater losses to the lenders," said Scott Jackson, chief executive officer of MVTRAC. "After a year of software and hardware development and due diligence, we are excited to choose Federal Signal for the implementation of MVTRAC's unsurpassed technology and data solution that is Revolutionizing the Recovery Industry(TM)."

"Federal Signal is pleased to partner with MVTRAC to take our advanced license plate recognition technology solutions to the auto recovery arena," stated William H. Osborne, president and chief executive officer of Federal Signal Corporation. "MVTRAC's streamlined process and end-to-end service and support offers Federal Signal an outstanding platform from which we can continue to deliver groundbreaking ALPR systems to a high-demand industry."

About Federal Signal

Federal Signal Corporation (NYSE: FSS) enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and institutional customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide, the Company operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. For more information on Federal Signal, visit: http://www.federalsignal.com

About MVTRAC

MVTRAC is a leading provider of on-demand data solutions focusing on the U.S. automotive finance industry. Utilizing ALPR technology, MVTRAC receives real-time license plate images from remote camera systems via the Internet, and stores the images in a centralized database on our servers. Users are partitioned to receive views of plate reads and can manually connect to the database via web browser to search for plate sightings against continually updated hotlists. MVTRAC continues to develop relationships with government agencies and third-party camera owners at traffic lights, tollbooths, airports, major transportation hubs, security centers and retail/commercial parking lots. For more information on MVTRAC, visit http://www.mvtrac.com.

SOURCE Federal Signal Corporation