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SmarTire Systems Inc.: U.S. Government Calls for Tire Monitoring

3 November 2000

SmarTire Systems Inc.: U.S. Government Calls for Tire Monitoring

    RICHMOND, B.C.--Nov. 2, 2000--SmarTire Systems Inc. announced that U.S. President Clinton yesterday approved amendments to a US federal transportation law that are aimed at preventing future automotive tragedies and represent significant legislation for improved tire safety.
    The amendments will result in regulations that will require all new vehicles to have warning indicators for low tire pressure. The amended law specifies that by November 2001, the Secretary of Transportation will 'complete a rulemaking for a regulation to require a warning system in new motor vehicles to indicate to the operator when a tire is significantly under inflated.' The regulation will become effective no later than November 2003.
    SmarTire offers technically advanced tire monitoring solutions for a wide range of applications including passenger cars, sport utility vehicles, light trucks and commercial vehicles. SmarTire's proprietary technology measures pressure and temperature on a real-time basis and transmits this data using leading-edge wireless communications protocol. In response to the increased demand for tire safety, SmarTire is preparing to release into production its Generation II tire monitoring products for the North American and European markets.
    President Clinton approved the amendments to the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act which recommends improved vehicle safety through various initiatives including one regulation that will require installation of warning systems in new motor vehicles to indicate when a tire is significantly under inflated.
    Commenting from the SEMA tradeshow in Las Vegas, Robert Rudman, President and Chief Executive Officer of SmarTire Systems Inc. reports, "This new legislation represents a milestone for the automotive industry as it recognizes the importance of tire safety and the critical role played by tire monitoring. As a company that has specialized in tire monitoring technology, SmarTire is witnessing a dramatic increase in consumer awareness for tire safety products. Together with our strategic partners, we will respond to this escalating demand with the right technologies, products and financial resources."