HPC Capital Management Corp. Initiates Research Coverage on SmarTire Systems

ATLANTA, Oct. 1, 2003 -- The following is being issued by HPC Capital Management Corp. ("HPC"), a member of the National Association of Securities Dealers, CRD number 104034:

HPC Capital (Roswell, GA) has initiated coverage of SmarTire Systems, Inc. (BULLETIN BOARD: SMTR) with a SPECULATIVE BUY recommendation. Bret Ginesky stated: "With SmarTire Systems expected growth of revenues and earnings, its new and advanced Tire Pressure Monitoring Systems (TPMS) products and the Company's opportunities due to government mandates for TPMS in passenger cars/light vehicles, we feel shares are undervalued at their current trading level. The expectations of a strong fiscal year for 2004, our positive outlook going forward, and the potential for substantial revenue growth could lead to increased earnings and investment returns," said Mr. Ginesky. The report is available for download from www.hpccapital.com .

About HPC Capital Management Corp.

HPC Capital Management Corp. ( www.hpccapital.com ) is a NASD member firm based in Atlanta, Georgia. HPC focuses on providing funding for public companies, consulting and merger & acquisition advice. HPC has offices in Atlanta, Georgia and Miami, Florida.

NOTE TO EDITORS: the above material is an investment opinion being issued by HPC Capital Management.