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SR Telecom Lays Off 127

SR Telecom™ Inc. (TSX: SRX - message board; Nasdaq: SRXA) announced today that it is taking immediate steps to reduce its costs in order to align them with current levels of business activity. As previously announced, the Company expects that its results for the first quarter of fiscal 2005 will be impacted by a reduction in the availability of supplier credit, which in turn has slowed raw material purchases and production. As a consequence, the Company has laid-off 127 employees on a temporary basis. The Company expects to recall employees as soon as production returns to normal volumes. SR Telecom now employs 383 people worldwide in its core wireless operations.

New Orders for Telefónica’s TRAC Project
SR Telecom also announced today that is has received a follow-on order for 15 angel™ base stations from Siemens for the ongoing Telefónica TRAC project. Telefónica, a leading international telecommunications operator, selected angel over a number of competing technologies for an extensive multi-service Broadband Fixed Wireless Access (BFWA) network, which will ultimately see the deployment of approximately 100,000 lines throughout Spain. The TRAC initiative will deliver high quality voice and high-speed data to suburban and rural areas throughout the country. To date, SR Telecom has received purchase orders for 72 base stations. The entire TRAC project calls for approximately 450 base stations.

Deliveries of the current order for 15 base stations are scheduled to commence immediately and be completed during the first quarter of fiscal 2005.

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