Federal Signal Completes Acquisition of SiritOAK BROOK, Ill. and...

Federal Signal Completes Acquisition of Sirit
OAK BROOK, Ill. and TORONTO, March 5, 2010 /PRNewswire-FirstCall/ -- Federal Signal
Corporation (NYSE: FSS), a leader in environmental, safety and transportation solutions, and Sirit
Inc. ("Sirit") (TSX: SI), a leading provider of radio frequency identification ("RFID") technology,
today announced that Federal Signal has completed the acquisition of Sirit.
"Completing the acquisition of Sirit opens the way to exciting possibilities for Federal Signal," said
William Osborne, Federal Signal's President and Chief Executive Officer. "The strategic rationale
for bringing Sirit together with Federal Signal's Diamond Consulting Services, PIPS and newly
acquired VESystems businesses is compelling. We will now be well positioned to offer
comprehensive Intelligent Transport Systems solutions as well as best-in-class individual products
and services allowing Federal Signal to capitalize on robust global market trends and deliver
enhanced value to our stockholders.
"On behalf of the Board of Directors and management team, we welcome Sirit's talented
employees to the Federal Signal team and look forward to working with them to achieve a quick
and seamless integration," Mr. Osborne concluded.
"Our merger with Federal Signal is a great opportunity for our employees and the future of Sirit,"
said Norbert Dawalibi, President and Chief Executive Officer of Sirit. "On behalf of Sirit's Board of
Directors and management team, we are deeply appreciative of the support of hard-working
employees throughout this process. Joining the Federal Signal family is the right fit for Sirit and we
look forward to rapidly integrating our operations and capitalizing on the power of this
combination."
As previously announced, on February 24, 2010, Federal Signal entered into a second amendment
to its definitive arrangement agreement with Sirit, whereby Federal Signal will acquire all of the
issued and outstanding common shares of Sirit (the "Common Shares") for cash consideration of
CDN$0.46 per share by way of a court approved plan of arrangement under the Business
Corporations Act (Ontario) (the "Arrangement"), an increase of CDN$0.16 per share or 53% over
the original cash consideration announced on January 14, 2010.
Citi served as Federal Signal's financial advisor, and Torys LLP and Thompson Coburn LLP served
as legal advisors to Federal Signal in connection with the transaction. GMP Securities L.P. was
retained as financial advisor to the board of directors of Sirit and its independent committee.
Gowling Lafleur Henderson LLP served as legal advisor to Sirit in connection with the transaction.

Reinstatement and news of contract hopefully today