FIRAN CORP.'S DENRO SUBSIDIARY ANNOUNCES MAJOR FAA CONTRACT AWARDS VALUED AT UP TO US$ 172 MILLION.

OAKVILLE, ONTARIO--(BUSINESS WIRE)--Aug. 9, 1995--Firan Corporation (FNG:ToSE) is pleased to announce that the company's Denro Subsidiary of Gaithersburg, Maryland has been awarded two major contracts by the U.S. Federal Aviation Administration (FAA)

The first contract was awarded to Denro to provide the Enhanced Terminal Voice Switches (ETVS) to support communications at up to 417 FAA and Department of Defense (DOD) facilities ranging from low-volume airport traffic control towers to large terminal radar approach control facilities. The ETVS supports voice communications between air traffic controllers, pilots and other ground based air traffic facilities. The initial award value is for US$ 13 million with a maximum value over 10 years of US$ 138 million. The added capabilities of the ETVS will improve air traffic and airway facilities work force efficiency, reduce the need for on-site maintenance personnel and enable the FAA to implement current telecommunications technology.

The second contract awarded to Denro by the FAA was for as many as 800 Digital Voice Recorder Systems (DVRS) to replace aging analog recording systems in the FAA and DOD air traffic control facilities. The contract is worth US$ 34.5 million including options and extended warranty. The contract has a two year base period, two additional two-year option periods and a final one year option. The contract award is the pilot under the FAA's new Federal Acquisition Streamlining Act, and, as such, SVRS was exempt from several government procurement regulations and the FAA was allowed to evaluate products the way a private business would.

CONTACT: Thomas Ivaskiv, Executive Vice President

905/844-2870

Fax: [phone]