OSI Geospatial Inc.

OSI Geospatial Inc.

September 09, 2008 09:25 ET

OSI Geospatial Signs First IVA Contract With Commercial Company

OTTAWA, CANADA--(Marketwire - Sept. 9, 2008) - OSI Geospatial Inc. (TSX:OSI) announced today that its Layered Security Solutions (LSS) unit, a division of its U.S. Operations has signed its first commercial contract with Texas Petrochemicals. Under the terms of this contract, the company will provide Integrated Vulnerability Assessments (IVA) for facilities located in the Sabine-Neches port region in Texas.

"We successfully completed the IVA project for the Sabine-Neches port region earlier this year and we are very pleased to have secured our first commercial customer with operations in this region. Texas Petrochemicals has many facilities across the U.S. and we are committed to expanding our business relationship with this company." said Ken Kirkpatrick, president and CEO of OSI Geospatial. "The port security market is a high priority for our company and we are confident that we will achieve further success in this area."

About Texas Petrochemicals

Headquartered in Houston, Texas, Texas Petrochemicals Inc. is a premier chemical company with more than $1.8 billion in annual sales. Its products are sold to a wide range of performance, specialty and intermediate markets, including synthetic rubber, fuel additives, plastics and detergents. The Company has manufacturing facilities in the industrial corridor adjacent to the Houston Ship Channel, Port Neches and Baytown, Texas and operates a product terminal in Lake Charles, Louisiana. For more information, visit the Company's web site at www.txpetrochem.com.

About OSI Geospatial

OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military 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 (OSI). 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.

Contact Information

  • OSI Geospatial Inc.
    Jane Hayward
    Investor Relations
    +1-613-287-8004 or +1-888-880-9797
    +1-613-287-0466 (FAX)