SmarTire Systems Improve Third Quarter Revenues

SmarTire Systems Inc. the leading developer of tyre pressure and temperature monitoring technology, has announced results for the third fiscal quarter ended April 30, 2003. Gross revenue for the third quarter totalled 638,323 US Dollars, an increase of 234,393 US Dollars or 172% over the same quarter in 2002.

Year-to-date revenues for 2003 of 1,182,674 US Dollars represent an increase of 52% over 2002 revenues of 779,687 US Dollars. SmarTire recorded a quarterly net loss of 1.54 million US Dollars or loss per share of 0.

06 US Dollars compared to a net loss of 1.51 million US Dollars or loss per share of 0.09 US Dollars for the same quarter last year.