OSI Geospatial Inc.
TSX : OSI
OTC Bulletin Board : OSIIF

OSI Geospatial Inc.

June 05, 2006 08:01 ET

Offshore Systems International Changes Name to OSI Geospatial

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Offshore Systems International Ltd. (TSX:OSI)(OTCBB:OSIIF) announced effective today it will begin doing business as OSI Geospatial Inc. As OSI Geospatial, the company will continue to deliver software and systems for enabling real-time situational awareness in command, control, communications, and intelligence (C3I) applications. The company's business operations will remain headquartered in North Vancouver, BC.

The ticker symbol for the company's common stock will remain the same on the Toronto Stock Exchange but will change on the Over the Counter Bulletin Board to OSIIF. Also effective today, the company's URL address will change from www.osil.com to www.osigeospatial.com.

"The decision to change our name will align our corporate identity with the company's expansion into the C3I market," said Ken Kirkpatrick, President and CEO of OSI Geospatial. "We strongly believe that this corporate name change more clearly reflects the goals and future business focus of the company."

Holders of stock certificates bearing the name "Offshore Systems International Ltd." may continue to hold them and will not be required to exchange them for new certificates or notes, or take any other action. The CUSIP number for the company's common stock will change to 67103T 10 1.

On April 12, 2006 at the company's annual general and special meeting its shareholders overwhelmingly voted in favor of the proposed name change.

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.

Forward-Looking Statements:

This news release contains items that constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. These statements are made under the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. OSI Geospatial can give no assurances that its representations will be achieved or that it will update them at any time in the future.


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