OSI Geospatial Inc.
OTC Bulletin Board : OSIIF

OSI Geospatial Inc.

October 12, 2006 08:00 ET

OSI Geospatial's COP Technology Slated for Deployment on U.S. Navy Littoral Combat Ships

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - OSI Geospatial Inc. (TSX:OSI)(OTCBB:OSIIF) announced today that it will provide its Common Operational Picture (COP) technology for deployment on the U.S. Navy's new Littoral Combat Ship (LCS), through the U.S. Joint Unmanned Systems Common Control program (JUSC2).

"This is the second U.S. Navy major new build program to integrate our technology," said Ken Kirkpatrick, President and CEO of OSI Geospatial. "Earlier this year we announced we had been selected for use on the bridge of the U.S. Navy's next generation destroyer, the DDG 1000, and now we are slated for deployment on the LCS as part of the JUSC2 mission package. We are extremely pleased to be part of such exciting and groundbreaking programs as JUSC2, LCS and DDG."

Littoral Combat Ships are designed to defeat close-to-shore threats and provide access to littoral (coastal) waters during battle. They are fast and maneuverable with operational flexibility to execute focused missions such as mine warfare, anti-submarine warfare and surface warfare.

The Joint Unmanned Systems Common Control program is a joint Navy/Army initiative aimed at developing a command and control architecture applicable to all unmanned systems, across all services.

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

Certain statements made in this news release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 and Section 138.4(9) of the Ontario Securities Act. These forward-looking statements are subject to risks and uncertainties. Actual results may differ from these projections. The risks associated with the Company's business include risks related to its reliance on international government contracts; the number of large customer transactions and the related lengthy sales cycles in executing those opportunities; uncertainties associated with competitive bidding processes and contract negotiations; actions by government authorities; the effects of general economic and political conditions; changing foreign exchange rates; and challenges related to the company's ability to introduce, develop and implement new products and enhancements to existing products that respond to customer requirements in a changing, complex, technological market. A complete discussion of the company's risk factors is presented in the company's most recent annual reports, filed with the United States Securities and Exchange Commission ("SEC") and the Canadian Securities Administrators ("CSA"), as well as other periodic reports filed with the SEC and the CSA. The Company does not undertake any obligation to update the forward-looking statements.

Copyright (C) 2006 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., 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.

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