SOURCE: Norsat International Inc.

June 24, 2005 19:00 ET

Norsat International Inc. Announces Reduction in Conversion Price of Outstanding Convertible Notes

VANCOUVER, BC -- (MARKET WIRE) -- June 24, 2005 -- Norsat International Inc. (TSX: NII) (OTC BB: NSATF) announced today that it has reduced the conversion price of its outstanding US$2 million of 8% unsecured convertible notes due March 31, 2007 from US$1.70 per common share to US$1.25 per common share. The convertible notes were issued on a private placement basis in March 2002 and are convertible at any time at the option of the holder into Norsat common shares at the conversion price.

About Norsat International, Inc.

Norsat International Inc. designs, engineers and markets satellite products for high-speed data transmission. For more than 25 years, Norsat has built a strong reputation in the field of satellite technology by providing its customers with innovative products and has now sold over 2.5 million products in 87 countries around the world. Norsat's latest innovation is the Norsat OmniLink(tm) line of portable satellite terminal products that provide rapidly deployable broadband satellite data and video connectivity in areas where traditional communications infrastructure is insufficient, damaged, or non-existent. Norsat's sectors of concentration are HealthCare, Homeland Security, Military and Media.

Forward-Looking Statements

Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat's public filings with securities regulatory authorities.

Contact Information

  • Norsat International, Inc.
    Communications & Investor Relations

    Toll-Free: 1-888-667-7281
    Tel: 604-292-9000
    Fax: 604-292-9011
    E-mail: Email Contact

    Norsat International Inc. Operations Location
    300 - 4401 Still Creek Drive
    Burnaby, British Columbia
    Canada V5C 6G9

    Customer Development & Customer Service from Seattle, Vancouver, New York,
    London, Zurich & Global Development Council Locations