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SmarTire Systems Clarifies Involvement

7 April 2000

SmarTire Systems Clarifies Involvement

    RICHMOND, B.C.--April 7, 2000--SmarTire Systems Inc. reports that in a Dow Jones News Release on the evening of April 4, 2000, SmarTire was mentioned in a story concerning a SEC complaint against two men who allegedly used the Internet to fraudulently promote shares in 35 microcap companies.
    In the complaint, the SEC noted that one of the two promoters acquired 5,400 shares of SmarTire seven days before selling them. The sale was made two hours after the Company's name had been mentioned on the promoter's web site without the Company's knowledge. That was the only mention of SmarTire in the SEC complaint. Regrettably, the Dow Jones reporter, who has since acknowledged that the Company's name was selected at random from the complaint, wrote the release in such a way that a reader might incorrectly assume that SmarTire had paid for the stock promotion.
    "We are issuing this press release to clarify that SmarTire had no involvement of any kind with either of the two individuals named in the SEC complaint and to express our regrets to any of our shareholders who read and were concerned with the Dow Jones report," stated Kevin Carlson, Chief Financial Officer and General Manager, SmarTire Systems.
    SmarTire Systems Inc. is an emerging technology company that develops and markets proprietary tire monitoring systems for the North American and European transportation industry. Through their 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.

Robert V. Rudman, CA, President and Chief Executive Officer SmarTire Systems Inc.

    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.