TORONTO, May 27 /CNW/ - 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, is pleased to announce that Mr. Randy Koroll has been appointed Chief Financial Officer ("CFO") of the Company. Mr. Koroll has 20 years of experience in the accounting industry, focusing mainly on the small - medium sized business segments for public accounting firms. He has extensive experience in the role of CFO and is a Director of Citadel Gold Mines Inc. (NEX: CGM), as well as being a member of that Company's audit Committee. Mr. Koroll is also a speaker for the TSX-Venture Exchange in their seminar series,"Managing a Public Company". Previously he worked in public practice in Toronto, as a Senior Manager - Small Business sector.

Star also announces that it will apply for regulatory approval of a Shares for Debt transaction whereby the Company would exchange 4,150,008 common shares of the Company at a deemed price of $0.06, in order to extinguish $249,005 in debt owed to various creditors. The Debt Settlement agreements provide for a deemed price at or in excess of recent closing prices. Included are 1,000,000 common shares to Mr. Hilary Vieira with respect to settlement of litigation, and 700,000 common shares to two Officers and Directors to settle $42,000 in outstanding and accrued management fees (the "Debt Settlement Shares"). The issuance of the Debt Settlement Shares will not result in a change of control, and the transaction is subject to TSX-Venture Exchange approval.