Sirit and Dynasys announce strategic partnership for RFID hardware upgrades and retrofits

Sirit Inc. (TSX:SI), the leading provider of embedded RFID reader technology, and Dynasys Technologies, Inc. (www.rfidusa.com), a proven provider of RFID hardware engineering solutions
and distribution services, today announced a strategic partnership and alliance. Through the newly formed partnership, Dynasys will serve as a value added integrator and distributor of Sirit's embedded OEM RFID reader offerings to serve the sizeable and relatively untapped RFID upgrade and retrofit opportunity, and address EPCglobal(TM) and "closed loop" RFID applications.

"Cost remains one of the largest obstacles to realizing true ROI and cost savings from RFID hardware implementation," stated Bob Scher, CEO of Dynasys. "Not only do expenditures for new RFID equipment contribute to the high costs of implementation, but the costs associated with business process change, downtime, reengineering backend IT infrastructure, and the obsolescence of existing installed bases of data collection equipment resultant from the
adoption of new RFID equipment, are sizeable."

Using Sirit RFID reader modules, Dynasys provides an upgrade and retrofit service that quickly and easily adds RFID reader capabilities to existing installed bases of hardware devices such as handhelds, printers, and transaction terminals. As an alternative to the purchase of new equipment, Dynasys' RFID upgrade and retrofit approach offers a very compelling and cost
effective path to customers looking to embrace RFID, by enabling customers to preserve existing investments in equipment, minimize downtime and business process change, and dramatically reduce the costs of RFID implementation.

"With a solid track record supported by over 205,000 RFID reader units produced and shipped across a myriad of frequencies and protocols," continued Scher. "Sirit is the proven leader in embeddable RFID technology. We are proud to partner with Sirit to address this very compelling opportunity."

"For over 15 years, Dynasys has been a recognized and well respected provider of value added services and distribution support to the RFID and automatic data collection industry. Dynasys helped pioneer the retrofit and upgrade approach during the emergence of handheld barcode scanners several years ago, by helping numerous customers to leverage their existing equipment investments resulting in significant cost savings," stated William Staudt, President and CEO, Sirit Inc. "Dynasys has identified a very compelling and attractive retrofit and upgrade path for the RFID market that is poised to dwarf the barcode opportunity. We are excited to be part of Dynasys's unique and value-added approach to the RFID market."

About Sirit Inc.
Founded in 1993, Sirit Inc. (TSX:SI) is a leading provider of Radio Frequency Identification ("RFID") solutions to customers worldwide. The company designs, manufactures, integrates and sells RFID solutions with an emphasis in several vertical markets including Supply Chain Management, Product Authentication, Asset Tracking, Security and Access Control and
Automatic Vehicle Identification. Building upon years of success deploying traditional RFID products, Sirit continues to capitalize on the growing demand for next generation RFID solutions. For more information on Sirit visit www.sirit.com or call 1-800-498-8760.

About Dynasys Technologies, Inc.
Dynasys is a value added integrator, distributor, and support center for SIRIT Technologies RFID modules and represents numerous other vendors supplying RFID and data collection products. In addition to distributing numerous RFID devices, Dynasys also manufactures its own line of RFID value-added products to the highest quality production standards. These
devices supplement the items distributed from our other leading RFID manufacturers. Dynasys bills itself as the "One-Source for RFID." At Dynasys, we are not just order takers or box pushers; we are a Design and Development Engineering Team capable of providing you with an RFID solution for your Automatic Identification Technology needs. For more information on the RFID retrofit opportunity or to discuss how SIRIT and Dynasys can meet your RFID needs, please visit www.rfidusa.com or call 1-800-867-5968.

Cautionary Note Regarding Forward Looking Statements

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward- looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward- looking statements as a result of risks and uncertainties impacting Sirit's business which are discussed in the section titled "Narrative Description of the Business - Risks" in Sirit's Annual Information Form dated March 19, 2004 as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or intended.

For further information:
Lorelei L. Luchkiw, Sirit Inc., (905) 949-4404 x249, lluchkiw@sirit.com; Bob Scher, Dynasys Technologies, Inc., (800) 867-5968, bobs@dyna-sys.com

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