Sierra Wireless Inc. T.SW

$9.9 Million Investment in Sierra Wireless

[moe_money]

Wednesday March 7, 6:33 am Eastern Time Press Release Minister of Industry Tobin Officially Announces $9.9 Million Investment in Sierra Wireless VANCOUVER, B.C.--(BUSINESS WIRE)--March 7, 2001--Sierra Wireless (NASDAQ:SWIR - news; TSE:SW. - news) Technology Partnerships Canada Investment Accelerates Third-Generation Wireless Data Platform Development Sierra Wireless, (NASDAQ:SWIR0(TSE:SW. - news), a leading manufacturer of wireless data modems, today welcomed Brian Tobin, the Minister of Industry for the Government of Canada, to its new facilities to make a joint announcement of the $9.9 million repayable investment in Sierra Wireless by Technology Partnerships Canada (TPC). This investment was first publicly announced October 19, 2000. The TPC investment will be directed by Sierra Wireless towards developing next-generation wireless data technology that will provide Canadians with reliable, high-speed access to mail, data, corporate applications and the Internet, ensuring that they get the information they need while working away from the office. The project funded by the TPC investment will focus on two key areas of wireless technology R&D: future generation wireless network development and software development. ``A worldwide leader in the research and development of wireless data communications with partners such as Nortel, Bell Mobility, and Infowave, Sierra Wireless has proven that Canada is a fertile ground for the development of leading-edge technology,'' said Dr. Norman Toms, Chief Technical Officer at Sierra Wireless. ``Programs like TPC encourage Canadian technology companies to remain in Canada, keeping the jobs, expertise, and economic growth they generate at home.'' Sierra Wireless products include wireless PC Cards for portable computers, wireless adapters for PDA's, OEM modules for embedded applications and rugged vehicle-mounted wireless systems, all of which are researched and developed in-house at Sierra Wireless. Areas of research currently undertaken include handheld wireless Internet devices, Internet protocol software, packet technology, broad- and medium-band radios for future generation frequencies, and modem miniaturization. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Our expectations regarding future revenues depend upon our ability to manufacture and supply products which we do not produce today and that meet defined specifications. When used in this press release, the words ``plan,'' ``expect,'' ``believe,'' and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized. About Technology Partnerships Canada TPC is a technology investment fund established in 1996 to contribute to the achievement of Canada's objectives of increasing economic growth, creating jobs and wealth, and supporting sustainable development. TPC supports and advances government initiatives by investing strategically in research, development, and innovation in order to encourage private sector investment, and so maintain and grow the technology base and technological capabilities of Canadian industry. TPC also encourages the development of small and medium-sized enterprises in all regions of Canada. About Sierra Wireless Sierra Wireless, Inc. is a leading provider of wireless data communications products. Sierra Wireless delivers wireless PC Cards for portable computers, wireless adapters for PDA's, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. Sierra Wireless is the founding member of the WirelessReady(TM) Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. For more information on Sierra Wireless, visit its Web site at https://www.sierrawireless.com. ``WirelessReady'' is a trademark of Sierra Wireless, Inc. All other trademarks or service marks in this news release are the trademarks or service marks of their respective owners. Contact: High Road Communications Hugh Scholey, 416/368-8348 E-mail: [e-mail] or Sierra Wireless Inc. Kathleen Gallagher, 604/233-6309 E-mail: [e-mail] Website: www.sierrawireless.com https://biz.yahoo.com/bw/010307/0067.html