SR Telecom (the Company) has been operating under the protection of the Companies' Creditors Arrangement Act (CCAA) since November 19, 2007. On February 29, the protection was extended to May 2, 2008.

On March 24, 2008, the Company entered into a definitive agreement with Lagasse Communications & Industries Inc. (Groupe Lagasse) to sell the majority of its property and assets related to the WiMAX business and symmetryTM line of products. SR Telecom received cash proceeds of $6.05 million, before transaction fees. The transaction closed today.

The audited consolidated financial statements for the year ended December 31, 2007 have been prepared using a different basis than the standard going concern assumption.

-All the Company's assets were valued at their net realizable value for a total of $37.0 million. As a result, a significant asset impairment of $40.6 million was recognized in the fourth quarter financial statements.

-Since the Company filed for creditor protection under CCAA, the liabilities were presented in the financial statements at their "allowed claim amount", triggering an increase in liabilities of $17.7 million. Total liabilities amounted to $150.3 million. The allowed claim amount represents the estimated maximum amount to be potentially claimed by creditors.

-No provision has been recorded in 2007 for the losses expected to occur from January 1, 2008 to the liquidation date as the audited financial statements for the year ended December 31, 2007 have not been prepared on a liquidation basis.

Consolidated financial results

SR Telecom's revenue for the year was $75.7 million compared to $68.7 million in 2006. Despite this increase, the revenue generated in 2007 was below management's expectations for its symmetry product line. This revenue shortfall was mainly due to the impact of liquidity restrictions on sales efforts, delays in manufacturing and product/technology development and to additional delays incurred in the ongoing implementation of major contracts in Mexico and Argentina.

Operating loss from continuing operations was $115.5 million, up from $98.0 million in 2006. Net loss and comprehensive loss for 2007 was $132.4 million, compared to $115.6 million in the prior year. Results in 2007 were significantly impacted by asset impairment and restructuring charges of $60.6 million resulting from CCAA proceedings, which includes an asset impairment charge of $40.6 million to bring assets to their net realizable value based on the proceeds from the asset sale to Groupe Lagasse, with the remainder related to an increase in long-term liabilities to their allowed claim amount. The impact of asset impairment and restructuring charges was partially offset by lower selling, general and administrative expenses and reduced research and development expenses compared to 2006.

Total assets amounted to $37.0 million as at December 31, 2007 compared to $150.6 million in 2006. The decrease over the prior year by $113.6 million was a result of the asset impairment charge and the discontinued operations of CTR, the Company's Chilean subsidiary operating in the Telecommunications Service Provider Segment, sold at the beginning of 2007.

Liabilities increased by $10.6 million to $150.3 million as at December 31, 2007 due to the additional financing obtained in July 2007 and the adjustment of liabilities to their allowed claim amount. The increase was partially offset by CTR discontinued operations and elimination of related liabilities.

Consolidated cash and cash equivalents decreased from $18.5 million as at December 31, 2006 to $17.0 million as at December 31, 2007.

Selected Financial Information(in thousands ofCanadian dollars, except per share          Three-months ended                   Year endedand share           December 31,  December 31,    December 31, December 31,information)               2007          2006            2007         2006--------------------------------------------------------------------------                              $             $               $            $Revenue                  12,523        18,293          75,682       68,707Gross profit (loss)      (1,062)       (7,580)          4,190       (1,084)Asset impairment, restructuring and other charges          (59,295)         (107)        (60,594)      24,313)Operating loss from continuing operations  (73,411)      (27,310)       (115,528)     (98,050)Loss from continuing operations             (83,078)      (31,293)       (131,843)    (109,285)Earning (loss) from discontinued operations, net of income taxes                 -            69            (582)      (6,342)Net loss and comprehensive loss     (83,078)      (31,224)       (132,425)    (115,627)Net loss per share basic and diluted        (0.11)        (0.04)          (0.18)       (0.17)                                                         As at December 31,                                                         2007         2006--------------------------------------------------------------------------Total assets                                           36,963      150,553Total liabilities                                     150,300      139,620--------------------------------------------------------------------------

About SR Telecom

SR Telecom (TSX: SRX). For more information, visit www.srtelecom.com.

Forward-looking statements

Certain information in this news release, in various filings with Canadian and US regulators, in reports to shareholders and in other communications, is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among others, information with respect to the Company's objectives and the strategies to achieve those objectives, as well as information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of April 4, 2008.

The results or events predicted in such forward-looking information may differ materially from actual results or events. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

For a more complete discussion of the assumptions and risks underlying our forward-looking statements, please refer to the section entitled Risks and uncertainties in the Company's management's discussion and analysis for the year ended December 31, 2007 as updated by the Company's Management's discussion and analysis and the section entitled Risk factors in the Company's Annual Information Form for the year ended December 31, 2007, which can be found under the Company's name at www.sedar.com and on the Company's website at www.srtelecom.com.

The forward-looking information contained in this news release represents expectations of SR Telecom as of April 4, 2007 and, accordingly, is subject to change. However, SR Telecom expressly disclaims any intention or obligation to revise any forward-looking information, whether as a result of new information, events or otherwise, except as required by applicable law.