Sirit Corporation Signs Five Year Agreement to Supply RFID Technology for Thailand Electronic Vehicle Registration Project

IRVINE, Calif., May 12 /PRNewswire-FirstCall/ -- Federal Signal Technologies group company Sirit Corp. ("Sirit"), a global provider of radio frequency identification ("RFID") technology, announces that it has signed an agreement with MIKOH (AVI) Pty Limited, a subsidiary of MIKOH Corporation Ltd, to supply Sirit's RFID technology for the Government of Thailand's Electronic Vehicle Registration (EVR) Systems project. The five-year agreement, with an option to extend the agreement for an additional five years, is expected to generate revenue up to US$8 - $10 million over the next three years, including an initial order value of US$1 million by June 30, 2010.  

The Thailand EVR project is expected to utilize hundreds of Sirit's ID5100 AVI Readers along with over 30 million of Sirit's RFID tags over the next five years. Beyond that, it is also estimated the tag requirements for the project will continue in quantities of millions of additional units per year to accommodate new vehicles entering the system.  Once affixed to a vehicle, these same tags may be used for other automated applications such as Electronic Tolling, Traffic Flow Management, Emissions Compliance and Vehicle Access and Control.

"We are excited to supply Sirit's best-in-class RFID technology to the Government of Thailand's EVR project," said William Osborne, Federal Signal's President and Chief Executive Officer.  "Assuring that tags and readers are authentic is a key element for a truly secure EVR System. This is not just important for vehicle registration, insurance and other compliance matters, but also for a country's national security. The combination of Sirit's high performance ID5100 RFID reader with MIKOH's Safe and Secure™ break on removal tag construction will allow us to provide the EVR project with exactly this required performance."  

"Utilizing a global open standard with ISO-18000 6C, Sirit is able to deliver an EVR system solution with reliable high speed performance and reduced operational costs to allow wide scale implementation across large vehicle populations.  Now, the Sirit / MIKOH Solution provides a tag that can economically be implemented across a large total population of vehicles, eliminating prohibitive cost barriers previously experienced with battery powered tag technologies," noted John Freund, Sirit President.

"The challenge for MIKOH and its partners was to provide a reliable, secure and economically feasible solution.  After researching and testing various options, it became clear that the Sirit products were perfect for the task.  With security and reliability being key factors in the decision process for Thailand's National Vehicle Registration System, Sirit was able to successfully provide the high levels of both physical tag and data security required along with high speed read and write performance," stated Hans Van Pelt, Vice President and General Manager of MIKOH Corporation Ltd.

About Sirit Corp.

Sirit Corp. is a business 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.

About MIKOH

MIKOH is a world-leading provider and innovator of custom security system solutions using its end-to-end authentication and tamper detection products and technologies. MIKOH focuses on security solutions for Automatic Vehicle Identification (AVI), secure asset tracking (objects, containers and vehicles), digital marking, and secure identification, thereby enhancing commercial and national security. Founded in 1993, MIKOH's system-level solutions and patented technologies protect the physical and data assets of over 140 government and commercial organizations worldwide. MIKOH has its headquarters in Melbourne, with offices in Sydney, Australia, McLean, VA and New York, NY in the USA, and Singapore. For more information, visit the company's website at http://www.MIKOH.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.

SOURCE Federal Signal Technologies