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Offshore Systems International's Electronic Navigation System To Be Featured at Two Major U.S. Military Shows Next Week
Vancouver, Canada - January 10, 2002 - Offshore Systems International Ltd. (TSE: OSI), a marine electronic navigation company with a strong defense niche, will be displaying its proprietary Electronic Chart Precise Integrated Navigation Systems (ECPINS-M) at two major U.S. military trade conferences running simultaneously next week on the East and West Coasts.
ECPINS-M will be on display in the Offshore Systems booth at the U.S. Armed Forces Communications and Electronics Association West 2002 event in San Diego, California, January 15 - 17, 2002. ECPINS-M will also be featured in the Lockheed Martin Naval Electronics and Surveillance Systems booth at the same show, and in the Lockheed Martin Naval Electronics and Surveillance Systems booth at the Surface Navy Association National Symposium in Crystal City, Virginia, which runs concurrently next week (Jan. 15-17).
"The prominent display of ECPINS-M at each of these important trade conferences represents important recognition for our technology and our company," said John Jacobson, President and CEO of Offshore Systems. ECPINS-M is believed to be the first system to meet all of the published data requirements for the U.S. Navy's ECDIS-N standard. ECDIS-N (Electronic Chart Display Instrumentation Systems-Navy) is an integral part of the U.S. Navy's plan for fleet-wide deployment of electronic chart systems by 2004.
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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