Sirit Awarded SR91 Express Lanes Upgrade Project

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Apr 29, 2010, 09:00 ET

IRVINE, Calif., April 29 /PRNewswire-FirstCall/ -- Federal Signal Technologies group company Sirit Corp. ("Sirit"), a global provider of radio frequency identification ("RFID") technology, today announced that it has commenced the upgrade of the in-lane toll collection system infrastructure on the 91 Express Lanes in Orange County California. This upgrade project is valued at approximately US$1.8 million and will be completed in late 2010.

The 91 Express Lanes is comprised of six lanes in total — four regular lanes plus two High Occupancy Toll lanes on a 10-mile toll road. It is located in the median of California's Riverside Freeway ("SR91") between the Orange/Riverside County line and the Costa Mesa Freeway, which is known as State Route 55. This state-of-the-art facility was the world's first fully-automated toll facility and the first application of value pricing in America. The Orange County Transportation Authority ("OCTA") initially awarded a contract to Sirit to implement a major system replacement in 2003.

91 Express Lanes customers pay tolls from pre-paid accounts, using a FasTrak™ transponder — a pocket-sized radio transmission device mounted to the inside of a vehicle's windshield. This electronic toll collection technology ensures the free flow of traffic on the SR91 Express Lanes by eliminating the need to stop and pay tolls at traditional tollbooths.

"We are pleased to have the support and confidence from OCTA to upgrade the SR91 electronic toll collection system infrastructure. The SR91 toll collection facility continues to be the industry's benchmark for system design and overall system performance," commented Mr. John Freund, President, Sirit Corp.

"The Sirit team did a remarkable job of bringing the original installation in on-time and on-budget and most importantly in exceeding the specifications for overall system performance. With this longstanding relationship, it was a natural choice for OCTA to partner with Sirit to design and implement the necessary lane system upgrades," noted Mr. Kirk Avila, Director of Operations, OCTA.

About Sirit Corp.

Sirit Corp. is a unit of Federal Signal Corporation (NYSE: FSS), a leader in environmental, safety and transportation solutions. Sirit is a leading provider of Radio Frequency Identification (RFID) technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 16 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities can be customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit www.sirit.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains unaudited financial information and various forward-looking statements as of the date hereof and we undertake no obligation to update these forward-looking statements regardless of new developments or otherwise. Statements in this release that are not historical are forward-looking statements. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: economic conditions in various regions, product and price competition, supplier and raw material prices, foreign currency exchange rate changes, interest rate changes, increased legal expenses and litigation results, legal and regulatory developments and other risks and uncertainties described in Federal Signal's filings with the Securities and Exchange Commission.

"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of Sirit Inc. All other names of actual companies and products mentioned herein may be the trademarks of their respective owners.