TORONTO, May 23 - Star Navigation Systems Group Ltd. (TSX-V: SNA) ("Star" or the "Company"), a leading edge technology company focused on providing Aerospace Solutions, both hardware and software platforms to assist aviation operators worldwide, has now expanded its product line to land based vehicles. Star is pleased to announce the sale of 35 TERRASTAR Land Tracking units, a satellite based terrestrial fleet management solution.
The customer, a subsidiary of one of the largest gold mining companies in the world, has issued a purchase order for 35 TERRASTAR Land Tracking units.
This latest sale develops a new niche market for Star's TERRASTAR Land Tracking product. Given the recent increase in profitability for the extraction of precious metals, exploration and production have increased dramatically worldwide. Given the remote destinations that many of these resource companies explore, the TERRASTAR Land Tracking product is a logical solution for asset management. As such, resource companies are an excellent target for the TERRASTAR Land Tracking product.
Under the terms of the sale, Star will install the TERRASTAR Land Tracking units and provide a complete solution. It is anticipated that delivery and installation of these units will be completed by mid-June of 2008.
This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/StarNavig... and view the Star Navigation IR HUB. Alternatively, investors are asked to e-mail all questions and correspondence to SNA@Agoracom.com
About Star Navigation:
Star Navigation Systems Group Ltd.(www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, 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.
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 the content of this news release.
For further information:
please visit www.star-navigation.com or
Viraf Kapadia, CEO,
viraf.kapadia@star-navigation.com;
AGORACOM Investor Relations,
SNA@agoracom.com,
http://www.agoracom.com/ir/StarNavig...
