---

---

Exhbit 4.7

# Management Services
Agreement

This Management Services Agreement
(this Agreement) is made and entered into effective as of April 6, 2003
by and betweenNexus Telocation Systems Ltd. (Nexus) with
offices at 1 Korazin Street, Givatayim, Israel and DBSI Investments Ltd. with its offices
at 85 Medinat Hayehudim Street, Herzelia, Israel (DBSI).

|Whereas, |  | Nexus desires to retain the management services of DBSI pursuant to the terms and
conditions set forth in this Agreement, and DBSI agrees to provide such management
services to Nexus on such terms and conditions;
|-------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Now, Therefore, in
consideration of the covenants and conditions hereinafter set forth, the parties hereby
agree as follows:

|1. | Scope
of Services
|-- | -----------------

| | 1.1. | During
the term of this Agreement DBSI shall provide Nexus with management
                    services with respect to Nexus business as shall be agreed upon
between                     the parties from time to time (the ManagementServices).
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 1.2. | By
rendering the Management Services hereunder, DBSI shall cooperate with Nexus
                    and utilize a professional skill and diligence to provide the
expertise required                     in connection with such services. DBSI shall
dedicate as much time as will be                     necessary for the proper performance
of the Management Services.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | Consideration
|-- | -------------

| | 2.1. | In
consideration of the performance of the Management Services hereunder Nexus
                    shall pay to DBSI an aggregate annual management services fees in the
amount of                     one hundred eighty thousand United States dollars
(US$180,000) (the                     Management Fees), to be paid in
equal quarterly installments                     of forty five thousand United States
dollars (US$45,000). Each quarterly                     installment of the Management
Fees shall be paid not later than the seventh                     (7th) day of
each calendar quarter for Management Services rendered                     during the
preceding calendar quarter.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2.2. | Nexus
will reimburse DBSI for out-of-pocket business expenses borne by DBSI or
                    any of its employees, directors or officers in connection with the
provision of                     the Management Services against the submittal of the
relevant invoices and                     receipts to Nexus.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2.3. | All
payments under this Agreement shall be made against the issuance of a valid
                    invoice furnished by DBSI to Nexus. Such payments shall also include
Value Added                     Tax pursuant to applicable law.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

---

|3. | Proprietary
Information
|-- | -----------------------

| | 3.1. | DBSI
agrees that any and all Proprietary Information (as defined below) of Nexus
                    which may be provided to DBSI is, and shall be, the sole property of
Nexus, and                     that DBSI will keep in confidence all such Proprietary
Information, and not use                     or disclose any Proprietary Information to
any third party without the written                     consent of Nexus, and that upon
termination of this Agreement, DBSI will deliver                     to Nexus all
documents and materials of any nature including or pertaining to                     any
Proprietary Information.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3.2. | For
purposes hereof, Proprietary Information means confidential and
                    proprietary information concerning the business and financial
activities of                     Nexus, including patents, patent applications,
trademarks, copyrights and other                     intellectual property, and
information relating to the same, technologies and                     products, know
how, inventions, research and development activities, trade                     secrets,
and also confidential commercial information such as information
                    relating to customers, suppliers, marketing plans, etc. Proprietary
Information                     shall also include information of the same nature which
Nexus may obtain or                     receive from third parties. The term Proprietary
Information shall                     not apply with respect to information that:
(i) was known to DBSI prior to the                     engagement with Nexus; (ii) is or
shall become part of the public knowledge                     except as a result of the
breach of DBSIs undertakings towards Nexus                     hereunder; (iii)
reflects information and data generally known in the industries                     or
trades in which Nexus operates; (iv) DBSI is compelled by court or government
                    action pursuant to applicable law to disclose such information,
provided,                     however, that DBSI gives Nexus prompt notice thereof so
that Nexus may seek a                     protective order or other appropriate remedy.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. | Term;
Termination
|-- | -----------------

| | This
Agreement shall be deemed effective as of April 6, 2003 and shall continue for a three (3)
year period thereafter (the Initial Term). Following the Initial Term,
this Agreement shall be automatically renewed for additional terms each of twelve (12)
months (each such term, the Renewal Term) unless either party gives the
other party a notice of termination three months prior to the beginning of a Renewal Term.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. | Independent
Contractor
|-- | ----------------------

| | DBSI
is an independent contractor and is not an agent or employee of, and has no authority to
bind, Nexus by contract or otherwise. DBSI will perform the Management Services under the
general direction of Nexus.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. | Miscellaneous
|-- | -------------

| | 6.1. | Entire
Agreement. This Agreement constitutes the entire understanding and
                    agreement between the parties hereto, supersedes any and all prior
discussions,                     agreements and correspondence with regard to the subject
matter hereof, and may                     not be amended, modified or supplemented in
any respect, except by a subsequent                     written document executed by both
parties hereto.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

- 2 -

---

---

| | 6.2. | No
Waiver. No failure, delay of forbearance of either party in exercising
                    any power or right hereunder shall in any way restrict or diminish
such                     partys rights and powers under this Agreement, or operate
as a waiver of                     any breach or nonperformance by either party of any
terms of conditions hereof.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.3. | Severability.
In the event it shall be determined under any applicable                     law that a
certain provision set forth in this Agreement is invalid or
                    unenforceable, such determination shall not affect the remaining
provisions of                     this Agreement unless the business purpose of this
Agreement is substantially                     frustrated thereby.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.4. | Assignment.
DBSI may freely assign this Agreement to a third party,                     provided,
that the assignee has the experience know how, ability and
                    expertise required for the provision of the Management Services under
this                     Agreement.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.5. | Notices.
Any notices under this Agreement shall be sent by courier or
                    certified mail, return receipt requested, postage or fees prepaid, to
the                     address specified above or such other address as the party
specifies in writing.                     Such notice will be effective one business day
after delivery to the courier or                     mailing as specified.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.6. | Governing
Law; Jurisdiction. The laws of the State of Israel shall apply                     to
this Agreement without giving effect to their rules regarding conflict of
                    laws and the sole and exclusive place of jurisdiction in any matter
arising out                     of or in connection with this Agreement shall be the
competent court in                     Tel-Aviv, Israel.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In Witness Whereof the parties
have executed this Agreement on the date first written above.

|Nexus Telocation Systems Ltd.
By:        ______________ 
Name:   ______________ 
Title:     ______________ |  | DBSI Investments Ltd.
By:        ______________ 
Name:   ______________ 
Title:     ______________
|---------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------

- 3 -

---

---