PASSTIME™ USA Launches new PASSTIME™ "ELITE" Based on Wavecom Innovation
Issy-les-Moulineaux (France) and Littleton, CO (USA) -February 12, 2007

PassTime™ USA today announced the launch of its latest payment assurance device, PassTime™ Elite, featuring the Wavecom Q2687 Wireless CPU®. The device harnesses the power of wireless machine-to-machine technology to help credit-troubled people own their own vehicles and mend their credit at the same time. PassTime™ starter-interrupt devices alert car-owners in advance of payment due dates and shut down the vehicle in the event of missed payments. While this may sound somewhat unpleasant, car owner Mary Cueller would disagree. "I didn't have good credit and this helps me make my payments on time," she said. Asked if she'd install the device on her family's other car, she responds, "Yes, I would. I would in a heartbeat."

As the premier provider and market leader of starter-interrupt and payment assurance technologies, PassTime™ has helped many like Mary repair their credit and go on to home ownership and more - at the same time, transforming the $600 Billion automotive finance market. With more than 3,500 customers and 500,000 devices on the road, PassTime™ technology protects over $1 Billion in assets. The newest product, PassTime™ Elite, is expected to achieve volumes in excess of 100,000 units with the potential to reach as high as two Million units over the next five years.

Always evolving to better serve its marketplace, PassTime™ is the first Wavecom customer in the U.S. to fully utilize C-GPS Open AT® Plug-In using Opus technology from eRide and Wavecom Q2687 Wireless CPU®. In fact, the unique PassTime™ functionality is entirely built-in and operated by Open AT® software. This cutting edge technology, at the heart of the new PassTime™ Elite platform, was vital in providing PassTime™ a competitive edge thanks in part to reduced materials costs and remote upgradeability for lower total cost of ownership.

"We are excited to be at the heart of this exciting application," said Wavecom, inc (USA) COO Anders Franzen. "Our partnership with PassTime™ is a prime example of cooperative development and demonstrates our ongoing commitment to supporting our customers throughout their development process."

"Working with Wavecom has been a huge help in developing this cutting-edge solution," said PassTime™ Chief Operating Officer Chris Macheca. "Wavecom offered a great deal of interaction with our developers and I know they pulled a lot of late nights helping us pull off an aggressive schedule for this product."

PassTime™ devices help lenders improve their financial portfolio's performance and gain high levels of operational efficiency and profitability. PassTime™ lenders are able to reduce collection staff levels, avoid expenses related to repossessions, and reduce their financial charge-offs and losses. PassTime™ lenders, through credit bureau reporting, have the capability to improve the credit scores of their customers.

"PassTime™ Elite will change the way lenders collect money. This is the greatest technology invention for collectors since the invention of the telephone." - Sue Karlin, CIO, PassTime™ USA.

For more information:
Lisa Ann Sanders
Director, Communications and IR
+ 33 1 46 29 41 81
[email protected]

Wavecom Contact:
Sara Brown
Communications Manager
Wavecom, Inc.
430 Davis Drive
Research Triangle Park, NC
+1 919-237-4007
+1 919-451-9027 (on site)
[email protected]

Passtime Contact:
Corinne Schwarz
National Accts/Marketing Director
PassTime USA
2616 West Alamo Ave
Littleton, CO 80120
303-962-4102 (direct)
[email protected]

About PassTime™ USA

Headquartered in Littleton, Colorado, PassTime™ supports and enhances the specialized finance industry through an entire family of payment guarantee solutions. Founded in 1990, PassTime™ invented the industry's first starter interrupt device in 1997.

The PassTime™ family of products improves customer payment performance and reduces default and repossession risks. We are proud to offer code-based, wireless, and GPS products and would like to announce our NEW PassTime Elite product.