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Sirit Technology Testing Successful at CAPUFE

^{Published on 2009-06-16 05:32:02, Last Modified on 2009-06-16 05:34:18 - Market Wire}
 

 Paves way for interoperable toll road systems across Mexico TORONTO, June 16 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading provider of radio frequency identification ("RFID") technology, along with its partner, Axiompass, a leading integrator and supplier of tolling equipment and RFID systems across Mexico, and Caminos y Puentes Federales de Ingresos y Servicios Conexos ("CAPUFE"), Mexico's Federal Tolling Authority, announced today they had successfully tested Sirit's RFID readers and tags for interoperability between legacy and new tolling systems. Sirit's IDentity 5100 ("ID5100") reader is the latest generation in multi-protocol readers that read different radio frequency protocols and perform extremely well at high speeds. Among the protocols the ID5100 can read is ISO 18000-6C, which is being installed in every vehicle in Mexico as part of the National Public Vehicle Registry ("REPUVE") as well as legacy protocols which are currently used on federal toll roads operated by CAPUFE. In January 2009, Axiompass organized testing in the CAPUFE labs to establish that the ID5100 could read all radio frequency tags currently being used for electronic toll collection. In addition, CAPUFE invited all its current lane controller technology providers to verify that the ID5100 could operate within the existing infrastructure. Tests were also performed with ISO 18000-6C tags at different speeds to demonstrate that electronic tolling could be achieved without the requirement to stop vehicles along the road. "We are committed to using state of the art technology that adapts well to our needs and will allow interoperability by being able to read multiple protocols at fast speeds." said Tarcisio Rodriguez Martinez, Director General, CAPUFE. "These tests are proof of our commitment." "We are very pleased as the tests were a complete success with all vendors being able to literally 'plug-in' the ID5100 and achieve excellent read performance with the existing tags," said Luis Maldonado, Chief Executive Officer, Axiompass. "These tests open new opportunities for deploying interoperable environments on the CAPUFE operated roads." "The results of these tests demonstrate Sirit products' superior performance and our commitment to providing some of the best open standard and scalable tolling and electronic vehicle identification technology available worldwide today. We believe the results of these tests will assist CAPUFE to achieve improved service to all of their tolling customers," added Wolf Bielas, President Latin America, Sirit Inc. About Sirit Inc. Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 15 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities can be customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Near Field Communications, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit [ www.sirit.com ]. About CAPUFE Caminos y Puentes Federales de Ingresos y Servicios Conexos (CAPUFE) is a decentralized public organism of the Federal Government of Mexico, with its own judicial personality and independent assets, that operates and gives major and minor maintenance to the federal roads and bridges. It also participates in investment and co-investment projects for the construction and operation of general communication routes. Its sector head is the Secretary of Communications and Transport (SCT). At the beginning of 2008 CAPUFE operated 45 roads with a combined length of about 4,330 kilometers (2,690 miles) and 36 bridges, with 142 toll plazas and 937 toll lanes, translating in a presence of about 73% of the Federal Network of Toll Roads. CAPUFE's central offices are located in Cuernavaca, Morelos. For more information, visit [ www.capufe.gob.mx ]. About Axiompass Axiompass is a leading integrator of person and vehicle identification systems in North America. Axiompass' products include automatic vehicle identification, identity management, access control, electronic documents, and secure electronic payment. Axiompass bases its technology solutions on smartcard, biometric, and RFID technology. For more information, visit [ www.axiompass.com ]. Cautionary Note Regarding Forward-Looking Statements Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian provincial securities legislation. These forward-looking statements relate to, among other things, Sirit's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "suspect", "outlook", "expect", "intend", "estimate", "anticipate", "believe", "plan", "forecast", "objective" and "continue" (or the negative thereof) and words and expressions of similar import, and may include statements concerning possible or assumed future results, financial outlook and/or future-oriented financial information. Although Sirit believes that the expectations reflected in such forward-looking statements are reasonable, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Sirit's business. Important factors that could cause actual results to differ materially from expectations include but are not limited to: Sirit's ability to achieve commercialization and/or commercial acceptance of its RFID technology; the evolution of, and adoption rate in, the RFID market; Sirit's inability to expand sales both within and outside its traditional markets; changes in Sirit's strategic relationships; Sirit's dependence on resellers, distributors and significant customers; the utility of research and development expenditures undertaken by Sirit; product defects; increased levels of competition; changes in laws and regulations; foreign exchange fluctuations; and Sirit's overall liquidity and capital resources. These and other important risks are discussed in further detail in the section entitled "Risks Factors" in Sirit's Annual Information Form dated March 13, 2009 and in Sirit's management's discussion and analysis found in its 2008 annual report as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Unless otherwise required by law, Sirit does not undertake any obligation to update any forward-looking statements contained in this news release as a result of new information, further events or otherwise. This cautionary statement expressly qualifies the forward-looking information in this news release. "Sirit", the Sirit Design and "vision beyond sight" are all trademarks of Sirit Inc. All other names of actual companies and products mentioned herein may be the trademarks of their respective owners. 

For further information: Tawnya Clark, Sirit Inc., (619) 393-2645, [ tclark@sirit.com ]