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U.S. Navy Issues Order to Offshore Systems International
Vancouver, Canada - October 18, 2001 - Offshore Systems International Ltd. (TSE: OSI), a marine electronic navigation company with a strong defence niche, announced today that the United States Navy has issued an order for Offshore System's ECPINS-M Software for the Naval Surface Warfare Officer's School training facility in Newport, Rhode Island.
"Every Naval Officer in the U.S. Navy's Surface Fleet is trained at Surface Warfare Officer's School," said Mr. John Jacobson, President and Chief Executive Officer "We're very proud that ECPINS-M has been selected as the electronic chart system that will be used in the bridge training suites. ECPINS-M conforms to the U.S. Navy's high standards for function and performance, and it will be used to illustrate navigation techniques using electronic chart systems."
United States Navy Surface Warfare Officer's School
The mission of the U.S. Navy's Surface Warfare Officer's School is to provide a continuum of professional education and training in support of Surface Navy requirements that prepares officers to serve at sea. This training assists in the preparation of line officers eligible for Command at Sea for the proper execution of command authority in surface ships. Training addresses the professional aspects of taking surface ships to sea and executing their battle functions as elements/units in the tactical forces of the U.S. Navy. Courses also address command responsibilities, ship tactics, techniques for evaluation and control of ship systems and equipment, current fleet policies and practices, and specialized information appropriate to the ship types to which the naval officers will be assigned.
Offshore Systems International Ltd.
Founded in 1977, Offshore Systems designs, develops and markets the proprietary ECPINS® (Electronic Chart Precise Integrated Navigation System) line of electronic chart navigation systems for ships. ECPINS® helps to reduce the risk of navigation related incidents by giving bridge crews a precise, real-time display of their position, course and speed, against a background of fixed obstacles and other navigational hazards. Offshore Systems has developed a strong market position in military navigation, and has ECPINS® systems deployed with the United States Coast Guard, the Canadian Navy, the Royal Danish Navy, and the United States Navy.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, OSI's analysis of opportunities in the acquisition and development of various project interests and other matters. These statements are made under the 'safe harbour' provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Although Offshore Systems International believes the expectations reflected in such forward-look statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, uncertainties associated with contract negotiations, industry supply.
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Jane Hayward
Investor Relations |
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