TIR Systems Ltd.
TSX : TIR

TIR Systems Ltd.

August 15, 2005 16:25 ET

TIR Systems Receives Orders for $1.5 Million in Solid State Lighting Products

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 15, 2005) - TIR Systems Ltd. (TSX:TIR), a world leader in light enabling technologies for Solid State Lighting, today announces the receipt of four orders totaling $1.5 million for its Destiny® Series of architectural luminaires and its ColorTrace delineation product, both Solid State Lighting (SSL) products. This revenue is expected to be recognized primarily in the fourth quarter of fiscal 2005.

The projects include entertainment complexes, retail environments and commercial buildings in Asia, Europe and Latin America.

"These orders represent international acceptance of TIR's architectural SSL products for a wide range of projects and applications. We are encouraged by the reception to our Architectural SSL products following the completion of their global launch within the last 12 months," stated Darren Luce, Vice President Global Sales, Commercial/Industrial Markets. "TIR continues to actively develop our distribution channels with the goal of expanding the global market penetration of the Destiny and ColorTrace products."

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.

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 "received" 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; the launch of our new products; and the patent litigation brought by Color Kinetics. 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 we are dependent on a single customer for a significant portion of our sales revenue; future sales of our existing products and our new products may be less than expected; our future operating results are uncertain and likely to fluctuate; and the patent litigation initiated by Color Kinetics may be unfavourable and have an adverse impact on our financial results; manufacturing risks; product liability risks; the effect of competition may have an adverse impact on our sales and profitability; 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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