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Itron Signs New Contract in Azerbaijan for Gas Smart Payment Project

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Itron to Continue 10-year Collaboration with SOCAR Azerigas PU with
Next Generation Prepayment Meters

Itron, Inc. (NASDAQ:ITRI), which is innovating the way utilities and
cities manage energy and water, signed a contract to deploy 70,000 new
gas prepayment meters to SOCAR Azerigas Production Union (PU), a part of
the State Oil Company of Azerbaijan Republic (SOCAR). This contract
follows the deployment of Itron's smart payment software and more than
1.3 million prepayment meters in Azerbaijan over the past 10 years to
improve revenue collection and streamline utility operations.

This contract will include Itron's new Gallus Pay prepayment meters,
which are equipped with electronic temperature compensation (eTC),
near-field communication for smartphones or smart cards and increased
data granularity for improved customer service. SOCAR Azerigas PU will
modernize its existing meter park stations with Itron's robust STS
meters, which will extend the use of prepayment to difficult to access
areas.

"With these new meters, we have numerous vending possibilities, which
will allow consumers to have more flexibility and convenience in paying
and accessing gas," said Mr. Akbar Hajiyev, managing director, SOCAR
Azerigas PU. "We are excited to work with Itron to streamline our
operations and provide reliable access to gas for our customers
throughout the country."

"We are thrilled to continue our long-term collaboration with SOCAR
Azerigas PU to integrate new functionalities and services to transform
their current infrastructure," said Oscar Marquez, Itron vice president
of sales, EMEA gas. "As the first utility to deploy our new Gallus Pay
prepayment meters, SOCAR Azerigas PU will benefit from the meter's
unique communication and vending capabilities and will be empowered to
better address the needs of customers in the Republic of Azerbaijan."

About Itron

Itron enables utilities and cities to safely, securely and reliably
deliver critical infrastructure services to communities in more than 100
countries. Our portfolio of smart networks, software, services, meters
and sensors helps our customers better manage electricity, gas and water
resources for the people they serve. By working with our customers to
ensure their success, we help improve the quality of life, ensure the
safety and promote the well-being of millions of people around the
globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron® and OpenWay® are registered trademarks of
Itron, Inc. All third-party trademarks are property of their respective
owners and any usage herein does not suggest or imply any relationship
between Itron and the third party unless expressly stated.

About SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in
exploring oil and gas fields, producing, processing, and transporting
oil, gas, and gas condensate, marketing petroleum and petrochemical
products in domestic and international markets, and supplying natural
gas to industry and the public in Azerbaijan. Three production
divisions, two oil refineries and one gas processing plant, an oil
tanker fleet, a deep water platform fabrication yard, two trusts, one
institution, and 22 subdivisions are operating as corporate entities
under SOCAR. Joint ventures (including ventures in Georgia and Turkey),
consortia, and operating companies established with SOCAR's
participation, are doing business in different parts of the petroleum
industry. SOCAR has representative offices
in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great
Britain, Germany and Ukraine and trading companies
in Switzerland, Singapore, UAE and other countries.

SOCAR "Azerigas" Production Union transmits,
distributes, and markets natural gas in the Republic of Azerbaijan.

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