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Arad Technologies, Yokneam, Israel, 2004

Tel Aviv, Israel, 1 May 2004 – California Governor Arnold Schwarzenegger and Israel Prime Minister Ehud Olmert jointly announced USCL Corporation of Sacramento, California and Arad technologies LTD of Yokneam, Israel have signed a joint development and marketing agreement that creates the next generation of utility meter reading technology.

USCL and Arad Technologies will target the U.S. utilities growing demand for Real Time Metering (RTM) systems, a $33 billion dollar market.

The announcement came during Governor Schwarzenegger’s trip to Israel where he met with numerous Israeli business leaders in an effort to boost investment of Israeli companies in California. In partnership with his new California Commission on Jobs & Economic Growth, the Governor made announcements about four current deals and partnerships that will create over 800 jobs in California.