SmarTire Unveils Innovative Tire Monitoring System for MotorcyclesRICHMOND, British Columbia--May 28, 2002-- SmarTire Systems Inc. , a leading developer of tire pressure and temperature monitoring technology, is showcasing a tire monitoring system for motorcycles at Reifen 2002 this week in Essen, Germany. This new product, demonstrated on a BMW 1150R with Pirelli tires, was unveiled by SmarTire's President and Chief Executive Officer, Robert Rudman.
Reifen International, held every two years, is the largest European tire exhibition and is the recognized meeting place for tire experts. This year's show, Reifen 2002, features approximately 380 exhibitors from 38 countries and attendees from over 80 countries. SmarTire is exhibiting in partnership with its German distributor, Seehase Autostyling GmbH.
"There is a great demand in the motorcycle industry for safety-focused products and SmarTire is achieving another corporate milestone by offering the first tire monitoring solution to this marketplace," said Robert Rudman, President and Chief Executive Officer of SmarTire Systems Inc. "This technically advanced product will be marketed in Europe and North America in both aftermarket and original equipment applications. The addition of this motorcycle system to our line of products demonstrates our ability to offer reliable, accurate solutions to a diverse range of customers. SmarTire is committed to developing leading edge technology that will continue to improve driver safety and decrease tire-related accidents and deaths."
With this innovative motorcycle safety system, each tire is equipped with a lightweight SmarTire sensor that constantly monitors tire pressure and temperature. The sensors transmit signals to a concealed receiver connected to an ultra-bright LED display in easy view of the rider. If there is a change in tire pressure, the rider will immediately be alerted by a warning light on the display. If tire pressure continues to decrease, the light will begin to flash, indicating that the pressure loss is at a serious level and the rider should take corrective measures. By identifying problems early, riders can take precautions to avoid accidents and the risk of being stranded on the roadside. The system can be fitted to all standard motorcycles and is scheduled for commercial release by year-end, 2002.
Since 1987, SmarTire has pioneered the research and development of tire monitoring technology and has advocated that tire monitoring will become the next major breakthrough in vehicle safety following airbags and anti-lock brakes. With the new Transportation Recall Enhancement Accountability and Documentation (TREAD) Act, improved tire safety standards will require tire pressure warning systems on new passenger cars and light trucks sold in the U.S. after 2003.
SmarTire develops and markets technically advanced tire monitoring systems for the automotive and transportation industries. Additional information can be found at www.smartire.com.
Al Kozak, Chief Operating Officer
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to, the anticipated demand for tire monitoring technology, sales of SmarTire's products and technology to original equipment manufacturers, the size of the market, the impact and scope of the new United States legislation, and the technical uncertainty of future products. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include general factors such as insufficient investor interest in the Company's securities, the impact of competitive products and pricing and general economic conditions as they affect the Company's customers, and specific risks such as the uncertainty of the requirements demanded and timing specified by U.S. government, reliance on third party manufacturers to product SmarTire products and technology, and, the Company's ability to source product components in timely manner. Readers should also refer to the risk disclosures outlined in the Company's annual report of Form 10-KSB for the last completed fiscal year filed with the SEC.