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TIR Systems Appoints New Chief Operating OfficerVancouver, BC, February 15, 2006--TIR Systems Ltd. announces the appointment of Neil McDonnell to the position of Chief Operating Officer, effective today. Mr. McDonnell will focus on leading the day-to-day execution of TIR's business. "One of the goals we laid out for 2006 was to continue to consolidate and improve our current business as we transition from being a specialty lighting company, to becoming a global leader in the supply of Solid State Lighting technology and products. This includes making a number of improvements in management and further strengthening overall Company leadership," said Leonard Hordyk, President and CEO. "I am pleased to welcome Neil to TIR's senior management team where his talents and expertise will be essential in helping us to improve the performance of our current business and shape our strategy going forwards." Neil McDonnell joins TIR Systems following two years as Chief Operating Officer at Mobile Data Solutions Inc. (MDSI), Vancouver, where his ability to build profitable businesses saw him restructure the company, streamline operations and drive revenue growth in Europe. Mr. McDonnell's leadership as Chief Executive Officer of Intrinsyc Software Inc., Vancouver, saw revenues grow from $2 million to $16 million. He has a proven track record for driving operational excellence, generating revenue from new technologies and products and managing the associated complexities of high tech business environments. He has held senior management positions in a number of BC technology companies built on the experience gained earlier in his career at Northern Telecom (now Nortel). "I am pleased to be joining TIR and am excited about pursuing the opportunities for enhancing the Company's market penetration and driving overall operational excellence," said Mr. McDonnell. "I look forward to working with Leonard and the rest of the TIR team in striving to achieve the Company's long term strategy." 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. To find out more about TIR Systems Ltd., visit www.tirsys.com. This News Release contains forward-looking statements or information concerning the development, design and marketing of SSL technology and its expected impact on the Company's business. Forward-looking statements or information are statements about the future and include, but are not limited to, our success developing, designing and marketing the sales of our products or technologies in response to the continuing change in technology, evolving industry standards and changing customer preferences and requirements. Such statements or information are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors, including without limitation, our ability to successfully address these developments on a timely basis or at all; as well the 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 events or results to vary materially from the Company's expectations. Forward-looking statements or information 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 statements or information if those beliefs, opinions or expectations change, or there is new information or other circumstances should change. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. Contact: Melanie Moore |
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