News Release   October 20 2003 Notice of Webcast - OSI Introduces Quarterly Conference Calls Vancouver, Canada -- Offshore Systems International Ltd. (OSI) (TSX: OSI, OTCBB: OFSYF) will release its third quarter 2003 financial results after markets close on October 21, 2003, and will webcast an investor conference call on October 22, 2003. John Jacobson, President and Chief Executive Officer will review the company's financial and operating results, provide an update on its strategic objectives and review its operations and marketing activities. A question and answer session will follow, at which time the operator will direct participants as to the correct procedure for submitting questions. You are invited to join the conference call on Wednesday, October 22, 2003 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) by dialing 416-405-8532 or 1-877-295-2825. Please call in prior to the scheduled start to secure a line; you will then be put on hold until the conference call begins. A taped replay of the conference call will be available until Wednesday, October 29, 2003 at 11:59 p.m. Eastern Time by calling 416-695-5800 or 1-800-408-3053, reference number 1488215#. The live audio webcast of the conference will be available at OSI's website at www.osl.com and at www.q1234.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. Following the meeting, the webcast will also be archived at www.osl.com and www.q1234.com for 90 days. About Offshore Systems International Limited Offshore Systems International Ltd. (OSI) was founded in 1977 and is a leader in delivering products and systems for situational awareness. The company provides display systems and geo-spatial data within mission-critical applications for several defense and commercial customers. OSI conducts its operations through three business units: Geomatics (data production and distribution), Navigation Systems, and Applications (products and services for command and control systems). OSI's common shares are listed for trading on the Toronto Stock Exchange (TSX: OSI) and OTC Bulletin Board (OTCBB: OFSYF). For more information, visit www.osl.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