TIR Systems Ltd.

TIR Systems Ltd.

October 03, 2005 16:16 ET

TIR Systems Announces Date of Shareholder's Meeting

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - TIR Systems Ltd. (TSX:TIR), a world leader in light enabling technologies for Solid State Lighting (SSL), announces that an Extraordinary General Meeting ("EGM") has been called for October 25, 2005 to approve the previously announced financing.

The EGM will be held at the offices of TIR's corporate counsel, Farris, Vaughan, Wills & Murphy LLP, 2500 - 700 West Georgia Street, Vancouver, British Columbia, on Tuesday, the 25th day of October, 2005, at 10:00 a.m. (Pacific Time).

In its September 6th announcement the Company anticipated that the first closing of this financing would occur in September. The first closing for this financing is now scheduled for October 25, 2005 as a result of the Toronto Stock Exchange requiring shareholder approval prior to closing the financing pursuant to its rules and policies.

About TIR Systems Ltd.

TIR Systems Ltd., a world leader in light enabling technology, 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.

To find out more about TIR Systems Ltd. (TSX:TIR), visit www.tirsys.com.

This News Release contains forward-looking statements concerning the development, design and marketing of SSL technology and its expected impact on the Company's business. Forward-looking statements are statements about the future and include, but are not limited to, our success developing, designing and marketing the sales of our products or technologies in response to the continuing change in technology, evolving industry standards and changing customer preferences and requirements. Such statements are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors, including without limitation, our ability to successfully address these developments on a timely basis or at all; as well the 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 events or results to vary materially from the Company's expectations. 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 statements if those beliefs, opinions or expectations, or other circumstances should change.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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