TIR Systems Ltd.

TIR Systems Ltd.

December 20, 2006 18:30 ET

TIR Systems' Invitation to Fiscal Year 2006 Financial Results Teleconference Call

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 20, 2006) - TIR Systems Ltd. (TSX:TIR), a world leader in Solid State Lighting (SSL) technology, will be holding a teleconference call on Friday, December 22nd, 2006 at 8am Pacific Time, 11am Eastern Time, to discuss the Company's financial results for the fourth quarter and fiscal year ending September 30th, 2006.

Your host will be Caren Holtby, Investor Relations Manager, with Leonard Hordyk, President and CEO and Gary Brown, CFO.

To listen, please dial in on 1 (877) 871-9526

A playback will be available from 4pm (Pacific Time) on Friday, December 22nd, 2006 until Friday, January 5th, 2007. Call 1 (416) 626-4100 or 1 (800) 558-5253 and quote reference number: 21314214.

A recording of the conference call will be available on the TIR Systems web site at www.tirsys.com from Saturday, 23rd December, 2006.

About TIR Systems Ltd.

TIR Systems Ltd., a world leader in light enabling technology, is building the foundations for tomorrow's lighting. TIR developed the Lexel®, which is the first, fully integrated, Light Emitting Diode (LED) based light source, designed specifically to produce high quality white light essential for general lighting applications. The benefits of the Lexel technology will encourage a more rapid adoption of Solid State Lighting and the Lexel is positioned to become a new standard in the global lighting market.

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

About Lexel®

The Lexel® is a perfectly controllable new solid state light source incorporating light emitting diodes (LEDs) that has the potential to use up to 80% less energy to produce the same amount of light as a conventional light source and does not degrade its output or color temperature over its 50,000 hour life. The Lexel combines breakthroughs in thermal design, optics, and feedback to provide precise color temperature control and dimming in a cost effective design, resulting in a truly intelligent light source for illumination.


This News Release contains forward-looking statements concerning the anticipated financing 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 expectations that the offering will be successful, the gross proceeds of the offering and our expectations as to the use of proceeds from the offering. 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 negotiate commercially acceptable financial terms for the offering; the completion of any negotiated financing will be subject to customary closing conditions, and the concomitant risk that the offering may not be successfully completed consistent with the terms outlined above, or at all; the Company's need for additional future capital, which may not be available in a timely manner, 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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