Sirit Inc. Completes Acquisition of TradeWind Technologies LLC


TORONTO, April 5 / - Sirit Inc. (TSX: SI), a leading provider of radio frequency identification (RFID) technology, is pleased to announce the completion of its acquisition of Tennessee-based TradeWind Technologies LLC, a developer and manufacturer of RFID readers and technology with an emphasis on high frequency (13.56 MHz) operation. In accordance with the terms of the agreement as announced on February 27, 2006, Sirit acquired TradeWind for aggregate consideration of approximately CDN$1.7 million including US$0.6 million cash and 3,000,000 common shares.

"Sirit and TradeWind are a great strategic fit, and this acquisition is an important element of our growth strategy to expand our presence in the RFID market and to add focus to closed loop market opportunities," commented Norbert Dawalibi, President and CEO, Sirit Inc. "We look forward to fully integrating TradeWind's RFID technology and experienced engineering team into our operations."

Through the acquisition, Sirit launched its line of flexible "plug and play" RFID readers ideally suited to a number of closed loop applications including contactless/cashless payments, asset management, retail and high value product authentication, and inventory management. Sirit also strengthens its technological capabilities through the addition of a highly skilled engineering team and a broad based intellectual property portfolio.Sirit's line of Plug-n-Play RFID products are available for purchase with software development tools and applications. For order information, contact Sirit's Plug-n-Play Sales team via e-mail: pnp@sirit.com, telephone at 1.877.PNP.RFID/1.877.767.7343 or (972) 243.7208 or visit pnprfid.com.

About Sirit Inc.

Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) technology worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 12 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities are easily customized to address new and traditional RFID market
applications including Supply Chain & Logistics, Cashless Payment, Access
Control, Automatic Vehicle Identification, Inventory Control & Management,
Asset Tracking and Product Authentication. For more information, visit
www.sirit.com.

For further information: Lorelei L. Luchkiw, Sirit Inc., (416) 367-1897
x249, (416) 669-8390, lluchkiw@sirit.com/

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