BVR Technologies Ltd. Invested $2 Million in Nexus Telocation Systems Ltd.

Apr 19, 2001, 01:00 ET from BVR Technologies Ltd.

    GIVATAYIM and ROSH-HA'AYIN, Israel, April 19 /PRNewswire/ --
 BVR Technologies Ltd. (Nasdaq: BVRT) and
 Nexus Telocation Systems Ltd. (Nasdaq: NXUSD), jointly announced today that
 BVR Technologies Ltd. invested $2 million in Nexus, at a price per share of
 $2.04, the average market price of Nexus' ordinary share during the 30 days
 period preceding the transaction.  Under the terms of the transaction, an
 additional investment of up to $3 million may take place by additional
 investors within 45 days following the closing of the transaction.
     Prior to this transaction, BVR Technologies held approximately 34% of the
 share capital of Nexus, and following this transaction, BVR Technologies holds
 approximately 41% thereof (Nexus' share capital after the transaction is
 composed of approximately 9.7 million ordinary shares).
     Yaron Sheinman, Chairman and CEO of BVR Technologies stated: "This
 investment proves our trust in Nexus' prospects for the future.  Our
 confidence in Nexus is based on its continued commercial success in South
 America and Israel and the increased demand for Automatic Vehicle Location
 application in the US.  The recent developments in the US utility market and
 NexusData's advanced discussions to deploy its first fixed wide area network
 in the US provide us with additional confidence with respect to Nexus'
 success".
     BVR is a management hi-tech company with five affiliated companies: Nexus
 Telocation Systems Ltd., a 41% owned affiliate, vi[z]rt Ltd.,
 (Neuer Markt: VIZ), a 21% owned affiliate, Coresma Ltd., a 37% owned
 affiliate, BrightCom Technologies Ltd., a 23% owned affiliate, and Unisfair
 Inc., a 42% owned affiliate.
     Nexus Telocation Systems Ltd. develops manufactures and markets low energy
 and cost effective wireless communications and location based information
 systems through the application of digital spread spectrum technologies.
 Nexus Telocation security services business is performed through business
 partners in Israel, Venezuela, Argentina, Russia and Chile.  NexusData, a
 fully owned subsidiary of Nexus Telocation Systems Ltd., provides low-cost,
 wide area data collection and information management for the utility industry.
 The company offers an end-to-end automatic meter reading solution, which
 includes wireless meter modules, wide area receivers and data management
 center.
 
     This press release contains forward-looking statements with respect to the
 business, financial condition and results of operations of BVR Technologies
 and Nexus and its affiliates.  These forward-looking statements are based on
 the current expectations of the management of BVR Technologies and Nexus,
 only, and are subject to risk and uncertainties, changes in technology and
 market requirements, decline in demand for the companies' affiliates'
 products, inability to timely develop and introduce new technologies, products
 and applications, and loss of market share and pressure on pricing resulting
 from competition, which could cause the actual results or performance of the
 companies to differ materially from those contemplated in such forward-looking
 statements.  BVR Technologies and Nexus undertake no obligation to publicly
 release any revisions to these forward-looking statements to reflect events or
 circumstances after the date hereof or to reflect the occurrence of
 unanticipated evens.  For a more detailed description of the risks and
 uncertainties affecting the companies, reference is made to the companies'
 reports filed from time to time with the Securities and Exchange Commission.
 
 

SOURCE BVR Technologies Ltd.
    GIVATAYIM and ROSH-HA'AYIN, Israel, April 19 /PRNewswire/ --
 BVR Technologies Ltd. (Nasdaq: BVRT) and
 Nexus Telocation Systems Ltd. (Nasdaq: NXUSD), jointly announced today that
 BVR Technologies Ltd. invested $2 million in Nexus, at a price per share of
 $2.04, the average market price of Nexus' ordinary share during the 30 days
 period preceding the transaction.  Under the terms of the transaction, an
 additional investment of up to $3 million may take place by additional
 investors within 45 days following the closing of the transaction.
     Prior to this transaction, BVR Technologies held approximately 34% of the
 share capital of Nexus, and following this transaction, BVR Technologies holds
 approximately 41% thereof (Nexus' share capital after the transaction is
 composed of approximately 9.7 million ordinary shares).
     Yaron Sheinman, Chairman and CEO of BVR Technologies stated: "This
 investment proves our trust in Nexus' prospects for the future.  Our
 confidence in Nexus is based on its continued commercial success in South
 America and Israel and the increased demand for Automatic Vehicle Location
 application in the US.  The recent developments in the US utility market and
 NexusData's advanced discussions to deploy its first fixed wide area network
 in the US provide us with additional confidence with respect to Nexus'
 success".
     BVR is a management hi-tech company with five affiliated companies: Nexus
 Telocation Systems Ltd., a 41% owned affiliate, vi[z]rt Ltd.,
 (Neuer Markt: VIZ), a 21% owned affiliate, Coresma Ltd., a 37% owned
 affiliate, BrightCom Technologies Ltd., a 23% owned affiliate, and Unisfair
 Inc., a 42% owned affiliate.
     Nexus Telocation Systems Ltd. develops manufactures and markets low energy
 and cost effective wireless communications and location based information
 systems through the application of digital spread spectrum technologies.
 Nexus Telocation security services business is performed through business
 partners in Israel, Venezuela, Argentina, Russia and Chile.  NexusData, a
 fully owned subsidiary of Nexus Telocation Systems Ltd., provides low-cost,
 wide area data collection and information management for the utility industry.
 The company offers an end-to-end automatic meter reading solution, which
 includes wireless meter modules, wide area receivers and data management
 center.
 
     This press release contains forward-looking statements with respect to the
 business, financial condition and results of operations of BVR Technologies
 and Nexus and its affiliates.  These forward-looking statements are based on
 the current expectations of the management of BVR Technologies and Nexus,
 only, and are subject to risk and uncertainties, changes in technology and
 market requirements, decline in demand for the companies' affiliates'
 products, inability to timely develop and introduce new technologies, products
 and applications, and loss of market share and pressure on pricing resulting
 from competition, which could cause the actual results or performance of the
 companies to differ materially from those contemplated in such forward-looking
 statements.  BVR Technologies and Nexus undertake no obligation to publicly
 release any revisions to these forward-looking statements to reflect events or
 circumstances after the date hereof or to reflect the occurrence of
 unanticipated evens.  For a more detailed description of the risks and
 uncertainties affecting the companies, reference is made to the companies'
 reports filed from time to time with the Securities and Exchange Commission.
 
 SOURCE  BVR Technologies Ltd.