SOURCE: Norsat International Inc.

May 20, 2005 09:30 ET

James Sharpe Joins Norsat's Board of Directors

VANCOUVER -- (MARKET WIRE) -- May 20, 2005 -- Norsat International Inc. (TSX: NII) (OTC BB: NSATF) announced today that James Sharpe of Seattle, Washington, has been appointed to the Board of Directors.

"Mr. Sharpe has a strong record of financial management and organizational development. Under his leadership, many companies and significant government agencies have grown and prospered. While Chief Fiscal Officer of the North Slope Borough of Alaska, Mr. Sharpe's efforts resulted in awards for sound financial management and reporting for eight years. Importantly, his enviable record and career is based on building a pervasive culture of teamwork. Mr. Sharpe's management philosophy reflects the same spirit of 'team and relationships' that we are fostering here at Norsat and we are delighted to round out our board team with someone of Mr. Sharpe's calibre," said Dan Dixon, a Director on the Board.

James Sharpe has almost twenty-five years of senior-level management experience in the public and private sectors as a chief executive officer and as a chief financial officer for small to large, complex organizations. He is currently the President of Sharpe Associates, a Washington State firm that provides a wide spectrum of financial management services to small and medium-sized private firms, and public entities.

Mr. Sharpe's professional career includes a stop at the Boeing Company in the mid-1960s where he performed liaison duties for Boeing with the U.S. Air Force on the Bomarc and Minuteman missile programs. He also served as the budget director for the State of Washington Community College System in the late 1960s and early 1970s, working very closely on behalf of the System with the legislative and executive branches of government. Mr. Sharpe's long career in finance includes almost eleven years in the 1980s and 1990s as the Chief Financial Officer of the North Slope Borough, Alaska, where he managed operating and capital budgets in excess of $500 million, an investment portfolio in excess of $1 billion, and a bond financing program that allowed the Borough to build $2.5 billion of facilities in eight communities.

Mr. Sharpe holds a BA in accounting from the University of Washington School of Business, a MBA from Pepperdine University with an emphasis in management and finance, and a MS in international business by research from the University of Strathclyde in Glasgow, Scotland.

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™ 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.

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

  • More Information Contact

    Bill Coyne
    Norsat International Inc.
    President and CEO
    Phone: 604-292-9000
    Fax: 604-292-9011
    300 - 4401 Still Creek Drive
    Burnaby, British Columbia
    Canada V5C 6G9