SIRIT Announces General Availability of Its Mobile, Wireless E-Commerce Payment System

    SIRIT Technologies Inc. (stock symbol: "SIRT" on the Canadian Dealing Network) is pleased to announce the recent completions of five California customer installations, including four quick service restaurants, built to utilize its new IDentity Flex line of dedicated short-range wireless communications systems. The Flex products are designed specifically for use in-vehicle-based, mobile environments for wireless e-commerce payment applications. These consumer applications include quick service restaurants, parking lots, gas stations, drive-through convenience stores and other retail in-vehicle payment applications.

    SIRIT's Flex systems, comprised of transponders, readers and antennas, are currently in production after more than a year of development and rigorous beta testing. The Flex system components have been individually designed to meet the price point and performance required for the mobile retail e-commerce market. As an added advantage, the Flex readers are capable of reading electronic toll transponders which comply to the California Department of Transportation Title 21 standard for electronic toll collection. Title 21 compliant transponders are currently in wide use by various toll agencies in the United States and are mandated for use in the State of California.

    "The market has already accepted SIRIT's IDentity Flex systems," commented Michael Briand, President and Chief Executive Officer of SIRIT Technologies Inc. "We have eight more installations at commercial and residential locations in the United States and Canada, to be completed by the end of April, 2000. The potential in the California market alone represents over 18,000,000 registered automobiles and over 6,000,000 trucks. The convenience and security offered by our system is becoming rapidly accepted as a preferred payment method for retail applications. For many years transponder based payment systems have been commonplace in electronic toll collection. With the advantages offered by SIRIT's Identity Flex systems, the use of this technology can now be justified for the rapidly expanding market for wireless e-commerce retail payment applications."

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