DUBAI, United Arab Emirates, Nov. 23 /CNW/ - Star Navigation Systems
Group Ltd. ("Star Navigation") (TSX.V: SNA) is pleased to announce the signing
of a Memorandum of Understanding, 'M.O.U', with BEXAIR for the sale and
installation of Star Navigation's flagship product, the In-flight Safety
Monitoring System - 'ISMS(TM)' for BEXAIR's entire fleet of aircraft. A
formalized contract is expected to be concluded on or about November 30, 2005,
the value of which is estimated to be USD $1.5 million at list prices.
The ISMS(TM) is the first system in the world to feature in-flight data
monitoring and diagnostics with a real-time, secure connection between
aircraft and the ground, made possible through current technology and
satellite transmission.
"Real-time information enables a proactive approach which not only
further enhances safety, but also significantly enhances profitability by
reducing overall maintenance and operating costs. As an established market
leader, BEXAIR is committed to delivering the highest levels of air safety and
customer satisfaction, while enhancing operating profitability. Our dedication
to passenger safety and comfort is the driving force behind the implementation
of the best technology available in the marketplace. Our visionary leadership
will further solidify BEXAIR's position as a dominating force in the region.
Star Navigation's In-flight Safety Monitoring System - the ISMS (TM) is
cutting edge technology in the aviation industry," reports Faisal Alam,
P. Eng, MBA Head of Maintenance and Development - BEXAIR.
"BEXAIR is one of the most dynamic aviation companies in the region,
currently handling close to 20% of all the Middle East's executive charter
business. We are honoured that BEXAIR has chosen the ISMS(TM). At the Dubai
Air Show it has became very evident that Star Navigation is the leader in
aviation technology. We have a product without peer which is in increasing
demand. This announcement is yet another great example of the traction and
product acceptance we are currently experiencing. BEXAIR is a forward-thinking
and innovative market leader with an exceptional team of professionals at its
helm. We are now in discussions with multiple operators and expect to report
further progress in the coming days ahead," reports Viraf Kapadia, Chairman
and CEO. Adding, "I would also like to extend sincere gratitude to
Mr. W.A. (Al) Hinton of Ontario Exports, area Director Middle East.
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.
TSX.V - SNA - 50,780,284 shares outstanding.
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