Cobra Automotive Technologies to Distribute Mobileye's Vision-Bas ed Driver Assistance Systems Throughout Europe

LOS ANGELES and VARESE, Italy, December 24 -- Cobra Automotive Technologies and Mobileye Vision Technologies announced today a distribution agreement whereby the two companies will collaborate in selling the Mobileye Advance Warning System (AWS) throughout Europe to passenger cars, light commercial vehicles (up to 3.5 tons), insurance companies and Original Equipment Suppliers. The agreement covers purchase expectation volumes in the hundreds of thousands over the next three years thereby expressing the expected growth and acceptance of driving assistance systems in Europe.

Mobileye's driver assistance systems offer the only driver safety systems on the market to combine forward collision warning, lane departure warning, and headway monitoring in one affordable solution for accident avoidance and driver behaviour documentation. Mobileye AWS includes a smart camera located on the front windshield inside the vehicle and utilizes Mobileye's advanced vision technologies to detect and measure the distance to vehicles and to lane markings, providing the driver with timely alerts.

Mobileye is recognized as the international leader in vision-based driver assistance technologies with customer functions launched by leading automakers including BMW, GM and Volvo. The forward collision warning assists in preventing collisions with vehicles ahead by alerting drivers to both moving and stationary vehicles, while filtering cars in adjacent lanes posing no threat. The lane departure function monitors the vehicle position in the lane and alerts the driver to departures from a lane without using the appropriate turn signal. Maintaining a safe distance from the vehicle ahead is a task drivers tend to underestimate, resulting in accidents caused by insufficient distance keeping. Mobileye's headway monitoring function calculates the distance from the vehicle ahead, providing the driver with both numerical and color headway data.

Recently Mobileye's vision processor for intelligent vehicle systems was awarded the 'Best Automotive Design' prize, as a result of the 'Best Electronic Design' Competition for 2008 launched by the Electronic Design magazine.

"We see an excellent opportunity to sell and support the Mobileye Advance Warning Systems in the after-factory fit market. The Mobileye systems fit the Cobra strategy of mitigating risks associated to driving a vehicle and are a welcome addition to the Cobra security product range," said Carmine Carella, Cobra CEO.

"Mobileye applauds Cobra's approach to equipping drivers with safety and security. As drivers continue to risk and lose their lives by driving inattentively, a growing statistic due to the flurry of in-car distractions and increasing traffic, Cobra will provide drivers with a variety of driving solutions to suit any budget," said Ziv Aviram, CEO of Mobileye Vision Technologies.

About Mobileye

Mobileye is a pioneer in the development of vision systems for on-board Driving Assistance Systems; providing data for decision making applications such as Mobileye's Adaptive Cruise Controls, Lane Departure Warning, Forward Collision Warning, Headway Monitoring, High Beam Assist and more. Founded in 1999, the company is recognized as the leading provider of vision-based driver assistance technologies and has been selected by major automotive companies worldwide for their production vehicles.

To date, Mobileye's technology has been launched by BMW 5 Series, 6 Series, 7 Series, Volvo S80, XC70 and V70 models, and Buick Lucerne, Cadillac DTS and STS.

In addition to OEM activities, Mobileye produces a complete off-the-shelf line of products, the Mobileye AWS(TM), (Advance Warning System), which contains features already in OEM production and new customer features to be launched by OEMs in the future. Mobileye AWS is distributed and sold around the world both to passenger cars through dealerships and to trucking fleets. Mobileye N.V. is headquartered in The Netherlands, with a research and development center in Jerusalem, Israel and sales and marketing offices in Los Angeles, California; Detroit, Michigan; Nicosia, Cyprus and Tokyo, Japan.

About Cobra

Cobra Automotive Technologies is an Italian company based in Varese, one of the major international operators in the field of security solutions for the automotive market. Cobra designs and manufactures electronic systems, and provides location based services for the management of risks associated to vehicles, including theft, hi-jack and/or low speed manoeuvres. It provides Stolen Vehicle recovery services at a pan-European level for Audi, Bentley, Ferrari, Ford, Hummer, Maserati, Mercedes-Benz, Nissan, Porsche, Renault. Founded in 1975, Cobra is partner to the main European and Asian car and motorbike manufacturers, for whom it develops solutions integrated in the original equipment, and it has a network in the European and Asian market of about 40 local commercial partners.