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Offshore Systems International's Electronic Navigation System Meets the Latest U.S. Defense Dept.'s Standards for U.S. Navy Charting Systems
Vancouver, Canada - January 8, 2002 - Offshore Systems International Ltd. (TSE: OSI), a marine electronic navigation company with a strong defense niche, announced today that its proprietary Electronic Chart Precise Integrated Navigation System (ECPINS-M) has been re-validated to meet the latest published chart data and display library standards by the National Imagery and Mapping Agency (NIMA) of the U.S. Department of Defense for Direct Read of NIMA Digital Nautical Charts (DNC). DNC is the official electronic chart data used by the U.S. Navy. In addition to DNC, ECPINS-M also displays a number of other specialized military navigation charts that are required for the U.S. Navy's ECDIS-N (Electronic Chart Display Instrumentation Systems-Navy) program, and it complies with the Vector Product Format Database Update (VDU) chart-updating standard.
"Offshore has been working towards meeting the U.S. Navy's standards for the last two years as part of our company's plan to capture a significant share of the military electronic chart business," said John Jacobson, President and CEO of Offshore Systems. "ECPINS-M now meets or exceeds all of the published data requirements for the U.S. Navy's ECDIS-N standard, and we believe it's the first system to meet those requirements. We are setting our sights now on getting systems on the bridges of U.S. Navy ships. The Canadian Navy has deployed the latest ECPINS-M system aboard the HMCS Vancouver, currently operating with the U.S. Navy's John C. Stennis Carrier Battle Group. The USS John C. Stennis aircraft carrier also has the latest ECPINS-M system on board."
About NIMA
NIMA, which includes functions of the former Defense Mapping Agency, was established October 1, 1996. As a U.S. Department of Defense combat support agency and a member of the U.S. Intelligence Community, NIMA is the single entity upon which the U.S. Government relies to coherently manage the previously separate disciplines of imagery and mapping.
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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