SmarTire Systems Announces Marketing Push for 1999

22 December 1998

SmarTire Systems Announces Marketing Push for 1999

    RICHMOND, British Columbia--Dec. 22, 1998--At SmarTire Systems Inc.'s Annual General Meeting held Dec. 17, 1998, SmarTire President and Chief Executive Officer Robert Rudman reported on the company's strategy for the coming year.
    "We are excited about the intensive marketing programs that will begin in the United States and Europe in the first quarter. In both regions we are targeting markets we believe will reap substantial benefits by year end. In addition, the development of new products should firmly establish SmarTire as the premier supplier of tire monitoring systems."
    The first quarter of 1999 will also trigger a push within the investment community to raise the profile of SmarTire. "With our new listing on NASDAQ, the time is right to more actively bring the story of SmarTire to the investment community. We will be visiting several major financial centers in the United States, Canada and Europe," reported Rudman.
    At the meeting, shareholders approved the following items: the appointment of KPMG as auditors; the approval of stock incentive plans for U.S. and non-U.S. employees; the setting of the number of directors at seven; and the election to the Board of Robert Rudman, President and CEO, SmarTire Systems Inc.; Lawrence Becerra, Principal, West Sussex Trading Inc. and Heriot Funds Management; John Bolegoh, VP Operations, SmarTire Systems Inc.; Mark Desmarais, Director of Marketing, Planning and Business Development, North America, TRW Automotive Electronics Group; Joseph Merback, President and CEO, SmarTire USA; Bernard Pinsky, Partner, Clark, Wilson, law firm; and Kenneth Morgan, former CFO, SmarTire Systems Inc. At a directors' meeting following the AGM, Morgan resigned from the Board. The directors then elected Kevin Carlson, CFO, SmarTire Systems Inc., to the Board of Directors.
    SmarTire Systems Inc. is the developer and marketer of proprietary tire monitoring systems for the North American and European automotive aftermarkets. The company is pursuing the passenger car market segment in response to the introduction of new tire technologies and changing consumer needs. Goodyear, Michelin and Bridgestone/Firestone have all approved the current SmarTire(tm) system for use with their run-flat tires. Through a strategic alliance, SmarTire and TRW Inc. are committed to providing superior tire monitoring systems for both aftermarket and original equipment applications. Additional information is available at www.smartire.com.

On behalf of the Board of Directors, Robert V. Rudman, C.A., President and CEO

    Except for the 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.

    The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.