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Road signs provide important information for guiding, warning, or regulating the drivers’ behaviour in order to make driving safer and easier. The Road Sign Recognition (RSR) is a field of applied computer vision research concerned with the automatic detection and classification of traffic signs in traffic scene images acquired from a moving car. Pavement Management Services has developed the first truly spatially registered video system in Australia. The digital video system offers continuous, high resolution video capture of five different views along the roadway. In this paper a road sign recognition system (RS2) for the high resolution roadside video recorded by PMS system will be introduced. The recognition process of RS2 is divided into three distinct parts: detection and location, recognition and classification, and display and record for information of road signs. While lots of attempts at automated sign recognition were based on the detection of shape patterns, the proposed method for PMS Video detects road signs by recognising their patterns in color space. Based on the performance testing of proposed RS2 for the road video collected in state highway network, the proposed approach is found to be robust and fast for detection of most of road signs commonly found in New Zealand, including warning signs, information signs, regulatory signs, and street signs. The sign recognition results include the exact locations of the road sign, types of road sign, and the images containing the road sign detected, which can be presented in various format and be used in sign condition evaluation for asset management.