SmarTire Provides Tire Monitoring Products for One Lap of America Race Team

    RICHMOND, B.C.--May 4, 2001--SmarTire Systems Inc. announced today its new tire monitoring products will help ensure optimal tire pressure and safety on the track and the road for the "Lapping Against Diabetes" Race Team competing in the 18th annual Michelin One Lap of America Race, May 5-12.
    "The One Lap of America Race will provide an excellent opportunity to demonstrate SmarTire's innovative tire monitoring technology in normal and extreme driving conditions," comments Robert Rudman, SmarTire's President and Chief Executive Officer. "Our Gen II product line-up includes a sophisticated transmitter that represents a new generation of technology from SmarTire and provides a tire pressure warning system for passenger cars, light trucks, SUVs and even amateur racers. The new Gen II products will soon be available to the retail aftermarket as well as adaptable for dealer accessory or port of entry installation programs."
    SmarTire has pioneered the research and development of tire monitoring technology and is ramping up production of its new Gen II products for passenger cars, light trucks and SUVs. The products provide real-time pressure and temperature information and features leading-edge sensor and radio frequency technology coupled with modular in-vehicle display options. The "Lapping Against Diabetes" team will utilize four lightweight strap mounted transmitters and a compact Full Function Display. The driver will be able to monitor pressure or temperature in each tire with real-time digital information - an audible and visual alarm will provide an early warning should variances in tire pressure and temperature be detected.
    The 2001 Michelin One Lap of America Race is presented by Car and Driver Magazine and consists of 15 high-speed events and time trials at eight racetracks plus a 4,200-mile road trip through 20 states between races. The two person "Lapping Against Diabetes" team will drive a Porsche 911 nearly 24 hours each day throughout the week of track racing and road travel equipped with SmarTire's Gen II product. The drivers are Mark Bennett, Senior Engineer with Honeywell and Paul Pendleton, an officer in the US Air Force. The Team is co-sponsored by Bendix Commercial Vehicle Systems and Hartman Printing.
    "Tire pressure maintenance is important for drivers on the road and in the One Lap Race. The SmarTire product will allow us to ensure correct tire inflation levels for optimal vehicle safety and performance," adds Mark Bennett from Watkins Glen, New York's premier racing facility where the One Lap of America Race begins. The team will then travel across the United States, making stops at famous tracks in Michigan, Kansas, Texas, Atlanta, South Carolina, Virginia and finish the race in New York seven days later.

    SmarTire develops and markets the world's most technically advanced tire monitoring systems for all sectors of automotive and transportation industries. Additional information can be found at www.smartire.com

Kevin A. Carlson, C.A., Chief Financial Officer and Managing Director

    Except for this historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Company's customers. Actual results and developments may therefore differ materially from those described in this release.