Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

ITURAN LOCATION AND CONTROL LTD. PRESENTS RESULTS

FOR THE THIRD QUARTER 2012

Revenues of $36.8 million and EPS of $0.25

AZOUR, Israel – November 19, 2012 – Ituran Location and Control Ltd. (NASDAQ: ITRN, TASE: ITRN), today announced its consolidated financial results for the quarter ended September 30, 2012.

Highlights of the Third Quarter of 2012

· A 14 thousand quarterly increase in net subscribers to a record of 653 thousand subscribers as of September 30, 2012, the highest net growth in subscribers in 10 quarters

· Gross margin at 50.3% and operating margin at 20.1%;

· Excluding currency effects and a one-time income related to Mapa in the third quarter of last year, operating profit grew in excess of 15% over last year;

· EBITDA of $10.6 million or 28.9% of revenues;

· Generated $7.2 million in operating cash flow; ended the quarter with $28.0 million in net cash and equivalents;

· Dividend of $2.6 million declared for the quarter;

Third Quarter 2012 Results

Revenues for the third quarter of 2012 were $36.8 million, representing a 11.7% decline from revenues of $41.7 million in the third quarter of 2011. 76.4% of revenues were from location based service subscription fees and 23.6% from product revenues.

Revenues from subscription fees were $28.1 million, a decrease of 6.6% over the same period last year. The decrease in subscription fees was due to the weakening of the Brazilian Real,  Israeli Shekel and Argentinean Peso against the US dollar. In local currency terms, subscription revenues grew by 9.0% compared with the third quarter of last year due to the increase in the subscriber base, which expanded from 619,000 as of September 30, 2011, to 653,000 as of September 30, 2012. The growth primarily came from an increase in subscribers in Brazil, following the strategic changes management put in place in past quarters.

Product revenues were $8.7 million, a decline of 25% compared with the same period last year. The decline was partially due to the above-mentioned currency effects. In addition, in the third quarter of 2011, the Company made a large one time license sale of data from Mapa in the amount of approximately $2.5 million.

Gross profit for the third quarter of 2012 was $18.5 million (50.3% of revenues), a decrease of 11.5% compared with $20.9 million (50.2% of revenues) in the third quarter of last year. The decrease is attributed to the above mentioned decline in revenues.

Operating profit for the third quarter of 2012 was $7.4 million (20.1% of revenues), a decrease of 21% compared with an operating profit of $9.3 million (22.3% of revenues) in the third quarter of 2011. The decrease in operating profit compared with last year was due to the abovementioned currency effect and the sale of license data by Mapa which boosted the operating income in the third quarter of last year. Excluding these two effects, operating profit in the third quarter of 2012 would have exceeded operating profit in the third quarter of 2011 by approximately $1.5 million.

ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

EBITDA for the quarter was $10.6 million (28.9% of revenues), a decrease of 21.8% compared to an EBITDA of $13.6 million (32.7% of revenues) in the third quarter of 2011.

Financial income in the third quarter of 2012 was $196 thousand compared with a financial income of $851 thousand in the third quarter of 2011.

Net profit was $5.2 million in the third quarter of 2012 (14.2% of revenues), compared with a net profit of $6.6 million (15.9% of revenues), as reported in the third quarter of 2011.

Fully diluted EPS in the third quarter of 2012 was US$0.25, compared with fully diluted EPS of US$0.32 in the third quarter of 2011.

Cash flow from operations during the quarter was $7.2 million.

As of September 30, 2012, the Company had net cash, including marketable securities and deposits for short and long term, of $28.0 million or $1.33 per share. This is compared with $22.9 million or $1.09 per share as at June 30, 2012.

For the third quarter of 2012, a dividend of $2.6 million was declared in line with the Company’s stated policy of issuing at least 50% of net profits in a dividend, on a quarterly basis.

Eyal Sheratzky, Co-CEO of Ituran said, “Overall we are very pleased with the results of the third quarter. In particular, the general trend of improving margins towards the top end of our historical range is a good sign, as well as the growth rate in the subscriber base which has returned in line with our targets. The net adds in the subscriber base, the majority of which were in Brazil, are now at a level which we are content with. On a local currency basis, our subscriber revenues grew strongly compared with last year, driven by this growth in our subscriber base. All these improvements are the fruits of efforts and due to the changes we implemented in the past few quarters.”

Conference Call Information

The Company will also be hosting a conference call later today, November 19, 2012 at 9am ET. On the call, management will review and discuss the results, and will be available to answer investor questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls a few minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Number: 1 888 407 2553

ISRAEL Dial-in Number: 03 918 0610

CANADA Dial-in Number: 1 866 485 2399

INTERNATIONAL Dial-in Number:  +972 3 918 0610

At: 9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time

For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran's website.

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ITURAN LOCATION AND CONTROL LTD. AND ITS SUBSIDIARIES

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended.  These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

About Ituran

Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security. Ituran’s subscriber base has been growing significantly since the Company’s inception to over 653,000 subscribers distributed globally. Established in 1995, Ituran has over 1,300 employees worldwide, provides its location based services and has a market leading position in Israel, Brazil, Argentina and the United States.

Company Contact Udi Mizrahi udi_m@ituran.com VP Finance, Ituran (Israel) +972 3 557 1348 International Investor Relations Ehud Helft & Kenny Green ituran@ccgisrael.com CCG Investor Relations (US) +1 646 201 9246

* Financial Tables to Follow **

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ITURAN LOCATION AND CONTROL LTD.

Consolidated Interim Financial Statements

as of September 30, 2012

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ITURAN LOCATION AND CONTROL LTD.

Consolidated Financial Statements

as of September 30, 2012

Table of Contents

	Page
Balance Sheets	6 - 7
Statements of Income	8
Statements of Cash Flows	9

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ITURAN LOCATION AND CONTROL LTD.

CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2012		2011
Current assets
Cash and cash equivalents		23,692		35,270
Investments in marketable securities		-		68
Accounts receivable (net of allowance for doubtful accounts)		27,171		25,294
Loan to former employee		-		340
Other current assets		23,169		15,165
Inventories		13,275		10,881
		87,307		87,018
Long-term investments and other assets
Deposit in escrow		4,927		4,888
Investments in affiliated company		156		207
Investments in other company		78		80
Other non-current assets		1,684		2,216
Deferred income taxes		5,391		5,568
Funds in respect of employee rights upon retirement		5,129		4,741
		17,365		17,700
Property and equipment, net		32,874		40,870
Intangible assets, net		2,621		3,355
Goodwill		8,314		8,514
Total assets		148,481		157,457

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ITURAN LOCATION AND CONTROL LTD.

CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2012		2011
Current liabilities
Credit from banking institutions		514		390
Accounts payable		10,204		9,319
Deferred revenues		8,836		7,869
Other current liabilities		26,383		20,966
		45,937		38,544
Long-term liabilities
Long term loans		57		173
Liability for employee rights upon retirement		7,408		6,865
Provision for contingencies		4,509		4,250
Other non-current liabilities		642		753
Deferred revenues		754		728
Deferred income taxes		650		792
		14,020		13,561
Stockholders’ equity		84,676		101,194
Non-controlling interests		3,848		4,158
Total equity		88,524		105,352
Total liabilities and equity		148,481		157,457

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ITURAN LOCATION AND CONTROL LTD.

 CONSOLIDATED STATEMENTS OF INCOME

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands except per share data)	2012			2011			2012			2011
Revenues:
Location-based services		85,437			91,968			28,102			30,080
Wireless communications products		26,654			31,223			8,703			11,585
		112,091			123,191			36,805			41,665
Cost of revenues:
Location-based services		33,294			37,678			10,660			12,276
Wireless communications products		23,474			24,745			7,624			8,474
		56,768			62,423			18,284			20,750
Gross profit		55,323			60,768			18,521			20,915
Research and development expenses		500			480			160			196
Selling and marketing expenses		6,473			6,387			2,104			2,223
General and administrative expenses		25,442			27,065			8,314			9,204
Other expenses, net		985			(13	)		560			(13	)
Operating income		21,923			26,849			7,383			9,305
Other income (expenses), net		6,755			(806	)		-			(847	)
Financing income, net		1,015			1,429			196			851
Income before income tax		29,693			27,472			7,579			9,309
Income tax expense		(8,364	)		(6,996	)		(2,121	)		(2,433	)
Share in losses of affiliated companies, net		(29	)		-			(15	)		-
Net income for the period		21,300			20,476			5,443			6,876
Less: Net income attributable to non-controlling interests		(830	)		(782	)		(217	)		(241	)
Net income attributable to the Company		20,470			19,694			5,226			6,635
Basic and diluted earnings per share attributable to Company’s stockholders		0.98			0.94			0.25			0.32
Basic and diluted weighted average number of shares outstanding		20,968			20,968			20,968			20,968

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ITURAN LOCATION AND CONTROL LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands except per share data)	2012			2011			2012			2011
Cash flows from operating activities
Net income for the period		21,300			20,476			5,443			6,876
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		10,520			13,109			3,262			4,305
Exchange differences on principal of deposit and loans, net		(178	)		(453	)		5			(968	)
Losses (gains) in respect of trading marketable securities		(2	)		-			-			19
Increase in liability for employee rights upon retirement		703			681			44			199
Share in losses of affiliated companies, net		29			-			15			-
Deferred income taxes		281			(1,366	)		433			(800	)
Capital losses (gains) on sale of property and equipment, net		21			(24	)		26			6
Decrease (increase) in accounts receivable		(2,465	)		759			777			600
Decrease (increase) in other current assets		(6,772	)		65			(613	)		364
Decrease (increase) in inventories		(2,647	)		(1,204	)		(880	)		(2,026	)
Increase (decrease) in accounts payable		584			(707	)		(2,131	)		173
Increase (decrease) in deferred revenues		1,193			1,368			540			3
Increase (decrease) in other current liabilities		987			292			312			246
Litigation obligation		-			237			-			237
Net cash provided by operating activities		23,554			33,233			7,233			9,234
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement,
net of withdrawals		(498	)		(411	)		(132	)		(109	)
Capital expenditures		(4,822	)		(13,339	)		(1,064	)		(2,354	)
Intangible expenditures		-			(58	)		-			(58	)
Deposit in escrow		-			603			-			-
Deposit		(281	)		410			(256	)		(52	)
Proceeds from sale of property and equipment		276			549			115			323
Repayment of loan to a former employee		355			-			-			-
Sale of marketable securities		70			-			-			-
Net cash used in investment activities		(4,900	)		(12,246	)		(1,337	)		(2,250	)
Cash flows from financing activities
Short term credit from banking institutions, net		53			563			(362	)		599
Repayment of long term loans		(33	)		(35	)		(11	)		(12	)
Dividend paid to non-controlling interests		(1,019	)		(506	)		(619	)		(506	)
Dividend paid		(28,116	)		(21,782	)		-			-
Net cash provided by (used in) financing activities		(29,115	)		(21,760	)		(992	)		81
Effect of exchange rate changes on cash and cash equivalents		(1,117	)		(2,162	)		(189	)		(3,132	)
Net increase in cash and cash equivalents		(11,578	)		(2,935	)		4,715			3,933
Balance of cash and cash equivalents at beginning of  period		35,270			46,674			18,977			39,806
Balance of cash and cash equivalents at end of the period		23,692			43,739			23,692			43,739

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