|
January 2008
OSI Geospatial International Operations Meets Major Milestone in Royal Navy Warship-AIS Program
Ottawa, Canada-With the successful installation of Warship Automatic Identification System (W-AIS) on HMS Illustrious, the current Fleet Flag Ship of the Royal Navy, OSI Geospatial (OSI:TSX; OSIIF:OTCBB) (“OSI”) International Operations meets a major milestone of the first major platform fit of this capability.
W-AIS provides the Royal Navy with exciting new capabilities that enhance situational awareness for bridge teams through the overlay of AIS contact data onto Warship Electronic Chart Display Information System (WECDIS), whilst providing the military user with a broad source of information and tools that help to extract military advantage from any AIS message including a comprehensive Recognized Maritime Picture.
"The Royal Navy (RN) constantly seeks to improve equipment and has fully embraced electronic navigation and, in doing so, has seen improvements in enhanced situational awareness. RN WECDIS and W-AIS have evolved from equipment that has been available in the commercial market and developed to provide the RN with first class capability. Both systems are being fully integrated into the Fleet and are providing ships and submarines with a clear operational edge", says Commander Steve Holt Royal Navy.
HMS Illustrious is the twelfth Royal Navy platform to receive this capability; this was achieved in twelve months from contract award which is something the combined MOD/Industry project team can be proud of.
In November 2006, OSI Geospatial International Operations (Offshore Systems Ltd.) was awarded the prime contract with the UK Ministry of Defence (MOD) to deliver and install Warship Automatic Identification Systems. W-AIS will be installed in platform Operations and Control Rooms and integrated into the Warship Electronic Chart Display and Information System on the bridge. This system will enhance awareness and contribute to the recognized maritime picture. W-AIS will be deployed on up to 77 naval ships [and could be deployed on naval aircraft in the future although this is not part of the contract].
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software 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.
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 © 2007 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. IGEN and C3CORE are registered trademarks of CHI Systems Inc., 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.
|
