To: foundation who wrote (31319 ) 3/27/2003 9:32:01 AM From: waitwatchwander Respond to of 196538 SR Telecom Introduces shift 1xEV Broadband Access Solution - Completed Mergy Acquisition enables standards-based delivery of fixed broadband services to business and residential users srtelecom.com MONTREAL, March 24, 2003 – SR Telecom(TM) Inc. (TSX: SRX), the world leader in point-to-multipoint fixed wireless access solutions, today announced that it has successfully completed the acquisition of certain assets of Mergy Inc. Through this transaction, SR Telecom acquires the intellectual property related to a market-ready CDMA2000 1xEV-DO-based product line, which SR Telecom has launched under the name shift(TM). shift 1xEV broadband access further strengthens SR Telecom’s position as the industry’s supplier-of-choice for fixed wireless access solutions. Operators deploying a shift network can offer Internet and data access at peak data rates of 2.4 Mbps, comparable to current cable and DSL modems, using just 1.25 MHz of spectrum. “A number of customers have expressed firm interest in shift’s ability to deliver broadband access where DSL and cable modems do not reach,” said Pierre St-Arnaud, SR Telecom’s President and Chief Executive Officer. “shift makes high-speed access a reality for homes and businesses regardless of the availability and quality of wired infrastructure.” In developed countries, current DSL and cable modem technology cannot reach all potential end-users, thus leaving room for innovative broadband fixed wireless access solutions like shift. The shift solution can also be used by competitive operators to compete against DSL or cable modem service providers by offering a third alternative for end-users to receive high-speed Internet access services. Because it can be quickly and reliably installed, the shift solution is particularly attractive in developing countries, where wired infrastructure is deficient, expensive or not easily reachable. “Our broadening portfolio of toll-quality voice and high-speed data access solutions and our strong relationships with service providers in more than 110 countries position us to play a leadership role in the fixed wireless access market for many years to come,” concluded Mr. St-Arnaud. According to a September 2002 report from Ovum Research, the global market for broadband fixed wireless access solutions is expected to increase to almost 30 million lines by 2008. Ovum forecasts that the North American market will account for more than half of that market. About SR Telecom SR Telecom is a world leader and innovator in Point-to-Multipoint Fixed Wireless Access solutions. It offers a full range of products and services, including equipment, network planning, project management, installation and maintenance. Its products, which are used in over 110 countries, are among the most advanced and reliable PMP wireless telecommunications systems available today. The Company has played a pioneering role in delivering voice and data services to remote areas and increasingly deploys broadband data solutions for metropolitan telecom operators. - 30 - FORWARD-LOOKING STATEMENTS Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results. SR Telecom and SHIFT are trademarks of SR Telecom Inc. All rights reserved 2003. All other trademarks are property Contact: Paul Goyette Communications Director 514-335-2429 Ext 4361