Offshore Systems International Ltd.
OTC Bulletin Board : OSIIF
TSX : OSI

Offshore Systems International Ltd.

May 30, 2006 08:00 ET

OSI Navigation Systems Selected by Royal Norwegian Navy

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - Offshore Systems International Ltd. (TSX:OSI)(OTCBB:OFSYF) (OSI) today announced that the Royal Norwegian Navy has selected the company's surface and subsurface navigation systems for deployment on its mine warfare vessels and submarines.

"Our customer base and reputation continues to grow among the NATO and allied community. With the addition of Norway, we now deliver systems to eight NATO and allied navies with six of those navies adopting our systems fleet-wide," said Ken Kirkpatrick, President and CEO of OSI. "The deployment by Norway again proves that our systems are being used for some of the most challenging and sophisticated operations by navies, including subsurface navigation and mine warfare."

The Royal Norwegian Navy is the branch of the Norwegian Defence Force responsible for naval operations. As of 2006, the Royal Norwegian Navy consists of approximately three Oslo class frigates, six Ula class submarines, 14 Hauk class torpedo boats, one Skjold class vessel, four Oksoy class minesweepers, four Alta class minesweepers, one Vidar class minelayer, 22 coast guard ships, and three branches of special forces vessels (marine, coastal, and mine divers). The Royal Norwegian Navy will also be adding five Skjold class torpedo boats and five Nansen class frigates over the next five years.

About OSI

Offshore Systems International Ltd. (OSI) is the world's leading developer and supplier of military navigation systems. Focused on the commercial, defense, and homeland security markets, OSI delivers advanced systems and software to address the growing need for enhanced situational awareness in command, control, 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 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 (OFSYF). For additional information please visit www.osil.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. Offshore Systems International can give no assurances that its representations will be achieved or that it will update them at any time in the future.


Contact Information

  • Offshore Systems International Ltd.
    Tracy Rawa
    Manager, Investor Relations
    (604) 904-4627 or 1-888-880-9797
    (604) 987-2555 (FAX)
    IR@osl.com
    www.osil.com