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Sirit Adds Colombia to List of South American Customers

^{Published on 2009-08-12 05:30:36, Last Modified on 2009-08-12 05:30:45 - Market Wire}
 

 Installs first electronic toll collection system in Cartagena TORONTO, Aug. 12 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), Sirit, a leading provider of radio frequency identification ("RFID") technology and Simplexity, one the largest system integrators of Toll Solutions in Latin America, announced the first installation of a Sirit electronic toll collection ("ETC") system in Cartagena, Colombia. The system utilizes Sirit's IDentity 5100 ("ID5100") readers and ISO 18000 6C passive tags. Concesiin Vial de Cartagena controls a 17 mile, 4 lane urban highway with a total of 5 toll plazas connecting industrial areas in the south with downtown Cartagena and the Port of Manga. The highway is utilized on a daily basis by thousands of travelers as a main business route, connecting corporate offices and manufacturing plants with residential areas. The highway is also a main thoroughfare for heavy vehicles to access Cartagena's largest port into the Caribbean. Concesiin Vial de Cartagena selected Simplexity's toll solution, branded as "T9", as their technology solution for all lane controllers, toll plaza software and ETC back office functions. Simplexity's T9 system boasts state of the art technology with its design concept based on using generic parts and open architectures. The system leverages current technologies such as Embedded Operating Systems, .Net languages and a fully remote managed solution, among others. All 5 toll plazas were upgraded with ID5100 readers supporting the T9 platform and have been successfully operating since June 2009. "The ID5100 is a very efficient and versatile reader", commented Luis Lorenzo, GM of Simplexity. Mr. Lorenzo further noted that, "our engineers have been able to manage script programming and configuration from day one and that has proven to be a keystone in making a transparent transition of technologies, with no hassle to the end user." "We are very excited to add another success in Columbia to our growing list of installations across South America, which include Mexico, Brazil and Uruguay. We continue to prove that Sirit's products provide the best solution to our customers seeking cost effective, easily installed and fully interoperable systems regardless of the current infrastructure in place," said Wolf Bielas, President Latin America, Sirit. 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 16 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 Simplexity S.A. Simplexity S.A is a leading Applications Developer and Systems Integrator in Latin America, dedicated to serve the industries of Transportation, Logistics and Traffic Management. Simplexity's fields of expertise include critical mission systems and complex software applications. Some of the largest Transportation and Logistics operations in Latin America are handled using Simplexity's proprietary software solutions, including critical processes in both operational and financial management. Simplexity's experience in Toll Applications comprises more than 250 lanes installed in the past 6 years, including Colombia's first ETC system. T9 is the newest generation and most complete Toll Management Suite from Simplexity, with an Open Hardware Architecture philosophy, which completely eliminates the ties to a particular HW provider. T9 includes multiple modules, multiple modes of operation (Manual, ETC, mixed, reversible and others) and a fully web-based back-office solution, able to handle pre-paid, credit, exempt, special fares, time-based discounts among others. For more information, visit [ www.spx-solutions.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: Anastasia Chodarcewicz, Sirit Inc., (416) 367-1897, [ achodarcewicz@sirit.com ]