Star Navigation Systems Group Ltd.
TSX VENTURE : SNA

Star Navigation Systems Group Ltd.

June 21, 2005 12:30 ET

Star Navigation Completes Preference-Share Issuance

TORONTO, ONTARIO--(CCNMatthews - June 21, 2005) - Star Navigation Systems Group Ltd. 'Star' (TSX VENTURE:SNA), is pleased to announce that it has completed the issuance of 350,000 Series II First preference shares at $1.00 per share, for total gross proceeds of CDN$350,000.

Proceeds of the Issue are targeted towards financing the installation of the Company's flagship In-flight Safety Monitoring System (ISMS™), beginning with SpiceJet in India, and followed by Etihad Airways, the national airline of the United Arab Emirates.

Details of the Issue are contained in Stars' press releases of March 22 and May 11, 2005. A total finders fee of 233,333 common shares of Star was allowed by the TSX-Venture Exchange.

About Star Navigation...

Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the worldwide license to its proprietary, patented In-flight Safety Monitoring System - ISMS™, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance-trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator. ISMS™ is certified by the FAA and Transport Canada and patented in the United Kingdom. The Company has applied for a patent under the PCT and has patents-pending in the United States, Canada, Germany, Japan, Hong Kong, Australia and India.

Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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