Iselin, NJ – February 29, 2012 -- On Track Innovations Ltd., (OTI) (NASDAQ: OTIV), a global leader in contactless microprocessor-based smart card solutions, for homeland security, payments, petroleum payments and other applications, announced today that it will report financial results for fiscal year 2011 on Wednesday, March 7, at 9:00 a.m. Eastern Standard Time. The Company has scheduled a conference call and simultaneous Web cast that will be hosted by Oded Bashan, Chairman and CEO, Ohad Bashan, President and Tanir Horn, CFO.  To participate, call:



1-888-407-2553 (U.S. toll free)

1-800-227-297 (Israel toll free)

At:

6:00 a.m. Pacific Time

9:00 a.m. Eastern Time

16:00 Israel Time

To listen to the web cast please go to:

http://www.otiglobal.com/Investors_Introduction For those unable to participate, the teleconference will be available for replay until midnight March 14th, by calling U.S: 1-888-295-2634 or on the web at:

http://www.otiglobal.com/Investors_Introduction



About On Track Innovations Ltd. (www.otiglobal.com)

On Track Innovations Ltd. (“OTI”) designs, develops and markets ID-credentialing, payment and loyalty applications based on its extensive patent and IP portfolio. OTI combines standards-compliant and state-of-the-art, contactless microprocessor-based technologies and enabling hardware with proprietary software applications to deliver high performance, end-to-end solutions that are secure, robust and scalable. OTI solutions have been deployed around the world to address homeland security, national ID, medical ID, contactless payment and NFC solutions, loyalty applications, petroleum payment, parking and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances.The content of websites or website links mentioned or provided herein are not part of this press release.OTI Contacts:

Galit Mendelson                     Jay M. Meier

VP, Corporate Relations       SVP, Business Development & Investor Relations,

732 429 1900 ext. 111           OTI America, Inc.

galit@otiglobal.com               732 429 1900 ext. 104

                                                   jaym@otiglobal.com