SmartDrive Systems Secures US$25M in Venture Funding; Names Dave Vucina Chairman of the Board

Provides working capital to extend industry-leading solutions for fleet safety and productivity

SAN DIEGO, December 16 - SmartDrive Systems, a leader in fleet safety and operational efficiency,
today announced that they have secured US$25M in additional venture funding
and named Dave Vucina as Chairman of the Board. Led by existing investors Oak
Investment Partners of Palo Alto, CA, and New Enterprise Associates of Menlo
Park, CA, the new round of financing will provide working capital for
SmartDrive Systems to continue to build out its suite of services and to
continued growth of the customer base.

(Logo: www.newscom.com/cgi-bin/prnh/20080331/LAM040)

SmartDrive has seen impressive business results, completing record
quarter of bookings growth in Q3 by adding new customers and expanding
deployment at existing customers. SmartDrive has also taken a leadership role
in the national discussion around distracted driving with the release of the
quarterly SmartDrive Distracted Driving Index(TM). This positive business
momentum, coupled with the additional funding, will help drive rapid growth
in 2010.

SmartDrive has also named Dave Vucina Chairman of the Board, effective
immediately. Mr. Vucina was most recently the CEO of Wayport Inc., a
privately held venture backed wireless company recently acquired by AT&T, and
is currently a member of the Board of Directors of ooVoo, a video
teleconferencing company based in New York City, and also serves on the
advisory Board of Silver Creek Venture Fund, based in Dallas, and RigNet, a
provider of sophisticated communication services for oil rigs globally,
headquartered in Houston.

"Attracting world-class talent for our Board, and securing continued
capital from our investment partners is a testament to SmartDrive's effective
solution for this growing market," said Greg Drew, President and CEO of
SmartDrive Systems. "Dave's experience and strategic acumen make him an
outstanding new voice on the SmartDrive team."

Added Vucina, "I'm thrilled to be joining SmartDrive at this pivotal
point in their growth. The market for technology solutions for fleet safety
and efficiency will continue to grow, and SmartDrive is well-positioned to
lead the next phase of innovation in this important space."

About SmartDrive Systems

SmartDrive delivers innovative solutions that make it easy for fleet
managers to improve driver safety and reduce operating cost. SmartDrive
records comprehensive video-based data from the road, then thoroughly reviews
and scores critical events and recommends action for fleet managers to
quickly respond and deliver sustainable savings - all through an easy-to-use
managed service. SmartDrive Systems is based in San Diego, and employs
approximately 300 people worldwide. For more information, please visit
www.smartdrive.net.

Jeff Seacrist of SmartDrive Systems, +1-858-225-5589, jeff.seacrist at smartdrive.net