OSI Geospatial Inc.

OSI Geospatial Inc.

December 02, 2008 09:25 ET

OSI Geospatial Signs Contracts Valued at $1.1M with Canadian Navy to Enhance Port Security Operations

OTTAWA, ONTARIO--(Marketwire - Dec. 2, 2008) - OSI Geospatial Inc. (TSX:OSI) announced today that its International Systems Operations has signed contracts totaling approximately $1.1 million with the Canadian Navy. Under the terms of these contracts, OSI will deliver its ACT small boat command, control and information systems ('C2IS') to support port security and maritime interdiction operations. The systems have been delivered and will be installed in shore based facilities and on small patrol boats over the next few months.

"We are pleased to have the Canadian Navy as our first customer to embrace our advanced small boat command, control and information system," said Ken Kirkpatrick president and CEO of OSI Geospatial. "The majority of our customers have been conducting operational trials of this new technology and feedback has been very positive. We believe that we can build on this success to develop future business for the company."

The ACT system is a complete command, control and information solution that includes the provision of secure transmission of mission critical information between small patrol vessels, mother ships, air borne assets and land based facilities. It is designed to provide military and security operations the ability to track and analyze a wide range of assets and ensure close command and control of these assets in demanding and fast paced situations. The system addresses the unique demands of Maritime Interdiction and Port Security Operations. These demands include the requirement of real-time situational awareness for the protection of critical assets.

The ACT system with our world leading ECPINS® software at its core can be installed as a stand-alone system or integrated into an existing ECPINS® installation. The company has installed or been contracted to install ECPINS® systems on more than 300 warships worldwide.

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) 2008 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

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

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