Globe Investor, Tuesday, November 25th, 2003.

Investment by J.L. Albright will be used to meet the recent challenges issued by Wal-Mart and the U.S. Department of Defense for their suppliers to become RFID enabled.

SIRIT is pleased to announce the closing of the first tranche of its previously announced private placement with J.L. Albright III Venture Fund, selling 9,732,687 SIRIT common shares to J.L. Albright at a price of $0.30 per share for gross proceeds to SIRIT of $2,919,806. The sale of an additional 16,933,980 SIRIT common shares to J.L. Albright III Venture Fund for gross proceeds of $5,080,194 is scheduled to occur following receipt of the requisite approval of SIRIT shareholders, expected to be obtained at a special meeting of SIRIT shareholders to be held on December 29, 2003.

SIRIT has been advised by J.L. Albright that following the closing of the first tranche today J.L. Albright III Venture Fund owns an aggregate of 9,732,687 common shares in the capital of SIRIT or approximately 13.7% of the issued and outstanding SIRIT common shares. The purchase was made by J.L. Albright III Venture Fund for investment purposes only.

At the closing of the private placement, Rick Segal, a nominee of J.L. Albright, was appointed as a director of SIRIT.

This first investment of approximately $2.9 million will be used by SIRIT to accelerate its product development and marketing strategy in direct response to the various initiatives involving the widespread deployment of Radio Frequency Identification ("RFID") technology. At a meeting hosted by Wal-Mart on November 4th and 5th, 2003 Wal-Mart met with its top 100 suppliers and a select group from the RFID industry, including SIRIT, to outline its plan for deployment of RFID within Wal-Mart's supply network. SIRIT, as a recognized leader in the design, development and high-volume manufacturing of RFID technology intends to use the proceeds of the total financing to accelerate its product development cycle and to expand its key alliances with major players directly involved in the efforts to meet the deployment challenges. Initial product roll-outs will commence in the first quarter of 2004 to address the immediate needs for field trials within the supply network.

William Staudt, CEO of SIRIT, commented, "J.L. Albright is the perfect financial partner for SIRIT with its history of active involvement with and support for its investee companies. J.L. Albright shares our vision for the future of both SIRIT and the RFID industry and is a long-term investor. In addition, through J.L. Albright's broad contacts and industry relationships, SIRIT expects to substantially expand its customer base."

Rick Segal, a partner in J.L. Albright, commented, "Our firm has followed the RFID industry for over two years and talked with most of the RFID reader manufacturers. We selected SIRIT because in the nascent and emerging supply chain market SIRIT stands out due to its experienced management team, its engineering talent, its robust product offerings and, perhaps most of all, because it has demonstrated the ability over ten years to meet customer demands to be a low cost, high volume producer with a record of exceptional quality. In addition, SIRIT is one of the few companies that has significant RFID revenue with sales approaching $20 million per annum. We believe these are just the qualities that the system integrators and the original equipment manufacturers will demand of their suppliers, and as such, we believe SIRIT will emerge as a leader in the industry."