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Warrants Alert

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Warrant Symbol - SRX.WT
Number  Trading - 78464P 12 5
Expiration Date - Feb. 18, 2006
Cusip - 78464P 12 5

Warrants called to trade news

SR Telecom warrants called to trade on Feb. 18

2004-02-16 18:10 ET - Warrants Called to Trade
Warrant symbol:  SRX.WT
Cusip No:  78464P 12 5
Designated market-maker:  A. Van Zeebroeck, Desjardins Securities Inc.
Other markets:  The common shares of SR Telecom are currently quoted on the
Nasdaq National Market.

Transfer agent:  Computershare Trust Company of Canada at its principal offices in
Montreal and Toronto

The warrants will be issued pursuant to prospectus dated Feb. 10, 2004, whereby
5,714,287 units are to be sold at a price of $7 per unit. Each unit comprises one
common share and one-half of one warrant. Each whole warrant entitles the holder
to purchase one common share of SR Telecom at a price of $9 at any time prior to 5
p.m. (Montreal time) on Feb. 18, 2006. The common shares and the warrants
comprising the units will separate immediately upon closing of the offering. The
closing of the offering is expected to occur prior to the open on Feb. 18, 2004.
The warrants will be issued under an indenture to be dated Feb. 18, 2004, between
SR Telecom and Computershare Trust Company of Canada, as trustee. The
warrant indenture provides for appropriate adjustments to the warrants in the event
of stock dividends, subdivisions, consolidations and other forms of capital

Please refer elsewhere in today's bulletins for additional information on the listing of
the common shares.

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