TIR Systems Ltd.
TSX : TIR

TIR Systems Ltd.
Corridor Capital, LLC

October 28, 2005 13:41 ET

Corridor Capital Announces $4.3 Million Investment into TIR Systems, Craig Enenstein Appointed to TIR Board

LOS ANGELES, CALIFORNIA--(CCNMatthews - Oct. 28, 2005) - Corridor Capital, LLC announces its $4.3 million (Canadian funds) participation as a Lead Investor in a $14.2 million (Canadian funds) financing in TIR Systems Ltd., a Vancouver-based company traded on the Toronto Stock Exchange (TSX:TIR). In conjunction with this investment, TIR has appointed Craig Enenstein, CEO of Corridor Capital, LLC, to its Board of Directors. TIR is a leader in LED based Solid State Lighting, is applying its cutting-edge patent pending LEXEL™ technology to transform the $78 billion lighting industry from analog to digital bulbs and fixtures.

Leonard Hordyk President and CEO of TIR stated, "We are pleased with the appointment of Craig Enenstein to our Board of Directors. Craig has a unique background assisting innovative technologies to achieve market adoption. We are impressed with the strategic consortia of commercial partners and investors Craig built for pioneering companies such as TiVo, Inc. and OpenTV, Inc. and thus, we determined that a partnership with Corridor Capital was the clear choice for TIR."

"I am convinced that TIR has a phenomenal opportunity to trigger the conversion of mainstream white illumination lighting to a digital LED-based format," said Enenstein. "I have been working closely with Leonard and some of the most significant members of the lighting industry value chain to encourage support of introducing LEXEL™-based products to the market, a key step in broader market adoption. I look forward to serving TIR as a board member and strategic partner, working alongside Leonard and his team as a change agent in the lighting industry and building a strong and profitable business."

About Corridor Capital, LLC

Corridor Capital, LLC is a Los Angeles-based lower middle market private equity and late stage venture capital pledge fund founded by Craig Enenstein in 2005.

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.

About LEXEL™ Technology

The LEXEL™ is "the essential element for perfect lighting" and targeted to replace the conventional light bulbs used in more than 60% of the US$78 billion general illumination market, including mainstream household and retail market segments. Today 25% of the world's electricity generated is being consumed for lighting. The LEXEL™ will deliver the same amount of light but offers massive energy savings of between 50% to 90% over conventional lighting and promises to accelerate SSL adoption.

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