FOR IMMEDIATE RELEASE

OSI Geospatial to Report 2006 Third Quarter Financial Results

Vancouver, Canada

OSI Geospatial Inc. (TSX: OSI; OTCBB: OSIIF) will release its 2006 fiscal third quarter financial results at 4:05 p.m. Eastern Time (1:05 p.m. Pacific Time) on Monday, October 16, 2006. The company will hold a conference call to discuss the financial results at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) the same day.

The call can be accessed in North America, toll-free, by dialing +1-866-400-2280, and internationally by dialing +1-416-850-9143 approximately 15 minutes prior to the start of the call. The conference call will also be broadcast live over the Internet and available for replay on the company’s investor site at www.osigeospatial.com.

In addition, a replay of the call will be available via telephone for seven business days, beginning approximately two hours after the call. To listen to the telephone replay, North American callers please dial +1- 866-245-6755 and international callers please dial +1-416-915-1035. Enter access code 958124 .

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.