News Release   Octobe 09 2001  Offshore Systems International Retains BlueFire PartnersTo Cultivate U.S. Investors & Enhance Market Valuation OSI's Niche Military Business Poised for New Growth Opportunities Vancouver, Canada - October 9, 2001 - Offshore Systems International Ltd. (TSE: OSI), a niche military contractor headquartered here, announced today that it has retained BlueFire Partners, a capital markets firm based in Minneapolis and New York, for advisory services including cultivation of broader awareness for the company in the U.S. investment community. John Jacobson, President and Chief Executive Officer of Offshore Systems, said, "Our company has a number of new growth initiatives evolving, including in the United States as well as in Canada and in NATO countries in Europe. For instance, The U.S. Navy has just ordered for field trials two of our proprietary ECPINS® (Electronic Chart Precise Integrated Navigation System). We expect our business with the U.S. Navy, as well as with navies around the world, to grow materially. And we have retained BlueFire Partners to cultivate greater recognition for Offshore Systems among U.S. institutional investors and to enhance shareholder value." "Offshore Systems was in a strong niche position before Sept. 11, and the company's prospects have become stronger now. The company's electronic-navigation technology increases safety with reduced manpower for ships, which is of increasing importance today. We believe Offshore is poised for compelling growth," said Jay M. Green, a Managing Director of BlueFire Partners. BlueFire Partners BlueFire Partners is a research driven and relationship oriented boutique capital markets firm. BlueFire is committed to increasing the market value of client-companies by focusing on independent, fundamental equity research, value-added advisory and professional services, and strategic management counseling. BlueFire provides expertise and services that Wall Street firms used to provide regularly before they became transaction driven. BlueFire's mission is to uncover - and champion - under-followed, undervalued public companies. For more information, visit: www.bluefirepartners.com. Offshore Systems International Ltd. Founded in 1977, Offshore 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. The marine industry puts the highest priority on safety of operation and independent studies have shown that ECPINS® can contribute significantly to reducing the risk of navigation related shipping incidents. For more information, visit: www.osi.com. 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.   For more information contact: Jane Hayward Investor Relations +1 613 287 0462 or +1 888 880 9797 +1 613 287 0466 (FAX) invest@osigeospatial.com