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Sirit Signs Exclusive Technology Partnership with MIKOH

Monday 03. November 2008 - Patent protected technology focused on worldwide AVI market

Sirit Inc. (“Sirit”) (TSX: SI), a leading provider of radio frequency identification (“RFID”) technology, today announced a worldwide strategic and exclusive partnership with MIKOH Corporation (“MIKOH”) to incorporate MIKOH’s Smart&Secure tamper-indication technology as a key feature in its passive RFID automatic vehicle identification (“AVI”) offerings.

The three year exclusive agreement, with two additional three year options, licenses Sirit exclusively to promote and sell MIKOH’s patented Smart&Secure technology worldwide in passive AVI systems where physically secure vehicle tags are required. In return, MIKOH is paid a sliding-scale royalty based on volume.

“We see the addition of MIKOH’s Smart&Secure tamper-indication technology as a key benefit that will assist in the prevention of misuse and theft of RFID enabled AVI tags,” said Norbert Dawalibi, president of Sirit Inc. “MIKOH’s technology enhances the strength of Sirit’s partnership with 3M to offer best-in-class, comprehensive solutions for the worldwide transportation market.”

“MIKOH’s Smart&Secure tags were an integral part of the world’s first successful electronic vehicle registration solution in Bermuda and this collaboration with Sirit provides a solution easily available to other governments looking to implement effective AVI systems,” added Matthew Blomfield, managing director and CEO for MIKOH Corporation Limited.