Altea and Belgosstrakh Partners in Advanced Telematics Developments for Byelorussian Market

Milan, Italy, January 11, 2010 --( Altea and Belgostrakh with Strazhprofi, have signed a Memorandum of Understanding for developing user based insurance services in Byelorussia.

The purpose of this MoU is to establish the terms and conditions which will open the way for testing products and applications with the scope of developing a common project of telematics based and enhanced insurance services.

The test will enable Belgosstrrakh to get familiar with the product range and philosophy of Altea's Open Telematics Platform. The goal of the test is to map the possibilities of future cooperation between Altea and Belgosstrakh on Usage Based Insurance related services and not limited to: Pay as you Drive, Anti Theft Services, Emergency Services, Accident Management, Incident Fraud Prevention.

Altea will provide Belgosstrakh with an access and full support to its proprietary Open Telematics Platform.

Belgosstrakh, Byelorussian Insurance company established in 1921, has accumulated the extensive experience of working both with population and with business entities. Throughout the latest years, the share of Belgosstrakh in the national insurance market has been exceeding 60 percent. It is confidently ranked No.1 among the domestic insurance companies. Belgosstrakh is a full-service insurance within the framework of the legislation in force.

Altea is a leading global Telematics Service provider. Combining global coverage with the latest technology, Altea develops high-tech tailor made solutions for car, truck and heavy equipment manufacturers, insurance companies and fleet managers through its proprietary Open Telematics Platform (OTP), the world's only open platform, working with virtually any onboard device, protocol and mapping system.

Altea Srl.
Andrea Carminati
+39 02 448707025