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FOR IMMEDIATE RELEASE
OSI Geospatial Teams with L-3 Communications Marine Systems
Vancouver, Canada
OSI Geospatial Inc. (TSX: OSI; OTCBB: OSIIF) announced today it has signed a teaming agreement with the Marine Systems division of L-3 Communications Corporation (NYSE: LLL) (L-3 Marine Systems) to pursue opportunities in the worldwide naval market. Under the terms of the agreement, the companies will jointly market and sell products including integrated bridge systems, navigation systems, homeland security systems, geospatial applications, command and control systems, and related training and human engineering applications.
"We set a goal this year to secure a partnership with a top-tier defense contractor and today’s agreement achieves this goal,” said Ken Kirkpatrick, president and CEO of OSI Geospatial. “This partnership fortifies our strategy to strengthen access in both the U.S. and international markets and also solidifies the relationship established earlier this year with L-3 Marine Systems when we signed a contract for a U.S. Navy program. Currently L-3 Marine Systems provides system solutions for use on vessels in several major U.S. military programs, including CVN77, LPD17, LCS, and DD1000 class ships. By combining L-3 Marine Systems' leadership in integrated bridge systems with our expertise in navigation systems, we expect to secure participation in new and existing defense programs around the world."
About OSI Geospatial
OSI Geospatial Inc. delivers advanced systems and software to address the growing need for enhanced situational awareness in command, control, communications, and intelligence applications. By providing essential tactical and geospatial information, the company’s systems and software help decision-makers know the precise location of mission operations across all military forces while integrating information with allies. OSI Geospatial systems are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OSIIF). For additional information please visit www.osigeospatial.com.
About L-3 Marine Systems
L-3 Marine Systems is a foremost integrator of naval seaframe control systems which include Engineering and Damage Control, Bridge and Navigation Systems, Auxiliaries, Condition Assessment, Safety, and Internal Communications and Surveillance. The company’s innovative approach to ship management is to select and provide best of industry components and technologies and integrate these into a seamless system for ship operators. L-3 Marine Systems offers its customers the finest solutions by using the most economical approaches from a variety of manufacturers that meet the customer’s specific requirements, ensuring that best value solution is provided. Assessed as an SEI CMMI Level 3 operation, L-3 Marine Systems has been a center of excellence in providing advanced controls, simulation and integrated training solutions to the U.S. Navy since 1996. Located in Leesburg, Virginia, L-3 Marine Systems is an equal opportunity employer. More information can be found at www.l3com.com/marinesystems.
Forward-Looking Statements
Certain statements made in this news release that are not based on historical information (including those in the section entitled “Outlook”) are forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 and Section 138.4(9) of the Ontario Securities Act. These forward-looking statements are subject to risks and uncertainties. Actual results may differ from these projections. The risks associated with the Company's business include risks related to its reliance on international government contracts; the number of large customer transactions and the related lengthy sales cycles in executing those opportunities; uncertainties associated with competitive bidding processes and contract negotiations; actions by government authorities; the effects of general economic and political conditions; changing foreign exchange rates; and challenges related to the company's ability to introduce, develop and implement new products and enhancements to existing products that respond to customer requirements in a changing, complex, technological market. A complete discussion of the company’s risk factors is presented in the company’s most recent annual reports, filed with the United States Securities and Exchange Commission (“SEC”) and the Canadian Securities Administrators (“CSA”), as well as other periodic reports filed with the SEC and the CSA. The Company does not undertake any obligation to update the forward-looking statements.
Copyright © 2006 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.
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