OSI Geospatial Inc.

OSI Geospatial Inc.

August 04, 2009 07:30 ET

OSI Geospatial Signs $1.3M Contract With the Dutch Defence Materiel Organization to Provide World Leading ECPINS® Warship Navigation System

OTTAWA, CANADA--(Marketwire - Aug. 4, 2009) - OSI Geospatial Inc. (TSX:OSI) ("OSI") announced today that its International Systems Operations has signed a contract valued at approximately $1.3 million to supply its world leading ECPINS® Warship Navigation System to the Dutch Defence Materiel Organization for use by the Royal Netherlands Navy and the Naval Component of the Belgian Armed Forces. Under the terms of this contract, the company will deliver and install 12 systems beginning in the third quarter of 2009.

"This is our first project with the Dutch Defence Material Organization and we are very pleased that they have selected our technology. With this project, we are adding our 10th naval customer and continuing to build on our market leadership position," said Ken Kirkpatrick, president and CEO of OSI Geospatial. "We are committed to building a long term business relationship and I am confident this project will lead to significant follow-on business with this important customer."


With ECPINS®, OSI provides the most advanced warship surface and subsurface navigation capabilities in the world. We have 10 navies with over 350 warships operating with our ECPINS® system around the world. With one of the largest and most experienced software engineering teams in the industry and over 25 years of experience, we continue to build on our capabilities and maintain our leadership advantage.

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. For additional information please visit www.osigeospatial.com.

Forward-Looking Statements

This press release contains forward-looking statements and information which reflect the current view of OSI Geospatial Inc ("OSI") with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.

Copyright (C) 2009 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.

Contact Information