|
|  |
 |
U.S. Navy Carrier Battle Group to be Equipped with Offshore Systems International's Electronic Navigation System
Vancouver, Canada - January 15, 2002 - Offshore Systems International Ltd. (TSE: OSI), a marine electronic navigation company with a strong defense niche, announced today that it received an order for it's proprietary Electronic Chart Precise Integrated Navigation System (ECPINS-M) software to provide an improved Navigation Situational Awareness capability for some select ships being deployed as part of the USS GEORGE WASHINGTON Carrier Battle Group (CVBG) and USS NASSAU Amphibious Readiness Group (ARG). A CVBG/ARG is a single combat unit consisting of an aircraft carrier, embarked air wing, and eight to ten escort vessels. All ships are assigned to the U.S. Navy's Atlantic Fleet.
"Offshore Systems is proud to be part of the evolution of electronic charting in the U.S. Navy," said John Jacobson, President and CEO of Offshore Systems. "The U.S. Navy's decision to roll out ECPINS-M as part of its first operational deployment of electronic chart technology is a key milestone for our company."
ECPINS-M is Offshore Systems' electronic chart navigation product for military and government fleets. It handles a wide variety of official chart and specialty data types, and has a number of key functions that support vessel operations in a complex mission-oriented environment. In 2001, Offshore Systems received fleet-wide orders for ECPINS-M from the Canadian Navy and the Royal Danish Navy.
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.
|
|
 |
 |
Jane Hayward
Investor Relations |
|
|
| Phone: (613) 287-0462 |
 |
|
| Toll-Free: (888) 880-9797 |
|
|
|
| Send an email |
|
|
|
|
|
|
| |
|
|
|
|
