SIRIT Technologies Announces Technology Collaboration With Intel Corporation

SIRIT Technologies, a wholly-owned subsidiary of SIRIT Inc. (TSX:SI) and leading provider of radio frequency identification (RFID) reader technology, today announced that it signed an agreement with Intel Corporation (NASDAQ: INTC) to collaborate on RFID reader technology development.

The companies will work together to help accelerate the deployment of standards-based building block technology for RFID readers to end users and OEM technology vendors. The agreement includes certain technology licensing and commercial sales components, though the specific terms of the agreement remain confidential.

"RFID readers are an important, emerging enterprise platform that incorporates computing, radio, and networking capabilities," said Angela Biever, general manager of Intel Capital's New Business Initiatives. "SIRIT and Intel are working toward a standards-based platform architecture for intelligent readers that will serve supply chain management and other emerging RFID applications. Intel is very pleased to be working with SIRIT, which we believe has a good track record of developing and delivering RFID reader technology."

"We are proud and honored to have been selected for this initiative, based on our proven expertise and capabilities in RFID reader technology," stated William Staudt, CEO of SIRIT. "SIRIT eagerly looks forward to working closely with Intel in this collaboration."

About SIRIT
Founded in 1993, SIRIT is a leading provider of Radio Frequency Identification ("RFID") solutions to customers worldwide. The company designs, manufactures, integrates and sells RFID solutions with an emphasis on two vertical markets; Supply Chain Management ("SCM") and Automatic Vehicle Identification ("AVI"). The SCM business unit focuses on supply chain and logistics management solutions while the AVI business unit focuses on revenue collection systems such as tolling, including state of the art High Occupancy Tolling solutions, and access control. Following its years of success in deploying traditional RFID products, SIRIT continues to capitalize on the growing demand for next generation RFID solutions. SIRIT trades on the Toronto Stock Exchange under the symbol SI and has approximately 88 million shares outstanding. For more information, visit www.sirit.com.