TIR Receives Two Orders Totaling $2.9 Million for Their Light Pipe Products
Source/Type: Press Releases - As issued by company

February 16, 2005... - Second Order from Chicago’s O’Hare Airport

Vancouver, British Columbia, Canada--TIR Systems Ltd., a world leader in light enabling technology, is pleased to announce the receipt of two new orders valued at a combined $2.9 million for its Light Pipe products. TIR expects to realize approximately 75% of the revenue from these two large scale renovation projects during fiscal 2005. The balance will be realized in fiscal 2006.

TIR has received a contract to supply its advanced Light Pipe system for the interior of Chicago O’Hare International Airport Terminal 2. The system will provide the general illumination for both the Departure and Arrival levels of Terminal 2. The Light Pipes, built into a new ceiling, will form the major visual element in the newly renovated Terminal that services the airlines that make up the “O’Hare Partners” including Air Canada, Northwest Airlines, and Continental Airlines.

This order follows the contract that TIR received in October 2003 for American Airlines Terminal 3 which is nearing completion. When Terminal 3 is complete the terminals will jointly represent the world’s largest commercial application of Light Pipe technology for general area lighting.

In a second separate contract TIR has been chosen to replace an existing conventional lighting system in the Cobo Hall Tunnel in downtown Detroit, Michigan. TIR’s Tunnel Light Pipe system will provide high quality, low maintenance linear lighting as part of a refurbishment that is now underway.

“TIR’s remote source Light Pipe technology allows customers to dramatically reduce maintenance requirements over the conventional lighting systems it is replacing, in 24/7 public facilities such as Chicago’s O’Hare’s high security airport terminal environment or Detroit’s high traffic Cobo Hall roadway tunnel,” said Darren Luce, Vice- President of Global Sales for the Commercial Industrial Markets.

About TIR Systems Ltd.

TIR Systems Ltd., a world leader in delivering specialty lighting systems, is building the foundations for tomorrow’s lighting. Through sound innovation and proven technical capability, TIR is developing, designing and marketing the core technologies that will allow Solid State Lighting (SSL) to move to the forefront of mainstream lighting.

For more information, please contact:
J. Caren Holtby
Investor Relations Manager
Tel: 604-473-2318
Email: caren.holtby@tirsys.com

Issa Nakhleh
Chief Financial Officer
Tel: 604-473-2302
Email: issa.nakhleh@tirsys.com

This News Release contains forward-looking statements concerning anticipated developments in the Company's business, which statements can be identified by the use of forward-looking terminology such as "complete" and “expect” or the negative thereof or any other variations thereon or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain, involving known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to the anticipated value of orders for our products. Factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to; the risk that our future operating results are uncertain and likely to fluctuate; manufacturing risks; the Company's need for additional future capital, which may not be available in a timely manner or at all; exchange rate fluctuations between the US and Canadian currencies, which may decrease revenues reported in Canadian dollars; as well as a description of other risks and uncertainties affecting the Company and its business, as contained in the Company’s most recent Annual Information Form and other subsequent news releases and filings with the Canadian Securities Regulatory Authorities, any of which could cause actual revenues to vary materially from the Company's anticipated future results. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statement if those beliefs, opinions or expectations, or other circumstances should change.

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