TORONTO, July 26 /CNW/ - Star Navigation Systems Group Ltd. ("Star
Navigation") (TSX Venture: SNA), is pleased to announce it has signed a letter
of intent for the sale and installation of Star's flagship product, the
ISMS(TM), (In Flight Safety Monitoring System) with A.R. Airways (Club One
Aviation) of New Delhi, India.
Value of the contract is estimated at $2.5 Million.
"This is a very significant win for us as it signifies Star's debut into
the V.I.P Jet Service market. With Business Jet deliveries having increased
since 1997 and with an estimated 12,800 Business Jets worldwide, this
particular niche opportunity for Star is simply tremendous. 2005 should prove
to be a very exciting time for Star, our team, our costumers and all our
shareholders." Reports Viraf Kapadia, Chairman and CEO.
Star is in discussions with Airlines Operators worldwide for the sale and
installation of its ISMS(TM) product.
About Star Navigation...
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the
worldwide license to a product without peer, its proprietary, patented
In-flight Safety Monitoring System -- ISMS(TM), 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 this press release.
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