Toronto, ON-3/3/2010- Sirit Inc. (Sirit) (TSX: SI), a leading provider of radio frequency identification (RFID) technology, announces that the Ontario Superior Court of Justice (the Court) has issued a Final Order approving the previously announced plan of arrangement under the Business Corporations Act (Ontario) (the Arrangement) under which Federal Signal Corporation (NYSE: FSS) will acquire all of the issued and outstanding common shares of Sirit (the Common Shares) for $0.46 per share in cash.

As previously announced on February 24, 2010, Sirit signed a second amendment to its definitive arrangement agreement with Federal Signal, whereby Federal Signal would acquire all of the issued and outstanding Common Shares for cash consideration of $0.46 per share, an increase of $0.16 per share or 53% over the original cash consideration announced on January 14, 2010.

Sirit shareholders approved the Arrangement at the Company's meeting of shareholders held on February 26, 2010.

The Company expects the transaction to close on or about March 5, 2010, subject to the satisfaction of certain closing conditions.

GMP Securities L.P. was retained as financial advisor to the board of directors of Sirit and its independent committee. Gowling Lafleur Henderson LLP is serving as legal advisor to Sirit in connection with the transaction. Citi is serving as Federal Signal’s financial advisor, and Torys LLP and Thompson Coburn LLP are serving as legal advisors to Federal Signal in connection with the transaction.

Anastasia Chodarcewicz
Sirit Inc.
(416) 367-1897 x227
achodarcewicz@sirit.com