SmarTire strengthen's Hyundai Autonet alliance

July 17, 2003
SmarTire Systems Inc. said it has terminated its agreement with Visteon Corp. and has elected to strengthen its strategic alliance with Asian partner Hyundai Autonet Co. SmarTire will market its products and services directly to OEMs worldwide with the exception of the Korean market. Hyundai Autonet will manufacture and market specific products for the Korean marketplace. SmarTire has previously entered
SmarTire Systems Inc. said it has terminated its agreement with Visteon Corp. and has elected to strengthen its strategic alliance with Asian partner Hyundai Autonet Co.

SmarTire will market its products and services directly to OEMs worldwide with the exception of the Korean market. Hyundai Autonet will manufacture and market specific products for the Korean marketplace.

SmarTire has previously entered into an agreement with Hyundai Autonet to jointly develop products for the Korean market.

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