OSI Geospatial announces $1.4 million contract in Australia

OSI Geospatial Inc. is pleased to announce that it has signed a $1.4 million contract to support the OSI navigation and tactical system used fleet-wide within the Royal Australian Navy (RAN). The contract makes provision for technical support as well as software upgrades for ECPINS-W sub (Electronic Chart Precise Integrated Navigation System – Warship submarine). The agreement also contains provisions for hardware support and maintenance for the ECPINS-W sub workstations installed onboard the RAN fleet. The support contract for these systems, which is signed through L3 Communications, extends through October 31, 2013 and is expected to generate approximately $500,000 in annual revenue. The RAN has been using OSI's systems since 2004 and is licensed to deploy the technology throughout all defence organisations in the Commonwealth. Through L3 Communications in Australia, OSI has supplied the navigation systems, including upgrades for the past seven years and is looking forward to supporting this customer for many years to come. "We are very pleased that the RAN continues to demonstrate its commitment to our technology and have elected to further our relationship with L3", said Walter Purio, President and CEO. "The ongoing confidence that the Australian Navy demonstrates in our company and its products paves the way for a long and mutually beneficial relationship with one of our companies many top tier naval customers."

OSI Geospatial, Inc.

Company or Organisation Portrait: OSI Geospatial Inc. (TSX Venture: OSI) operates two distinct business units: Offshore Systems Ltd. (based in Vancouver, British Columbia), a world-leading naval fleet supplier of integrated navigation and tactical solutions; and CHI Systems, Inc. (based in Philadelphia, Pennsylvania), a leading-edge research, development, and systems integration supplier of technology solutions for defense, aerospace, health, and bioscience markets. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The Company is publicly traded on the TSX Venture Exchange.