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Technology Stocks : STAR NAVIGATION SYSTEMS

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From: naturalperson	7/27/2005 1:17:04 PM
	of 9

News Release - Star Navigation obtains $2.5-million ISMS contract 2005-07-26 08:27 ET - News Release Mr. Hilary Vieira reports STAR NAVIGATION SIGNS LETTER OF INTENT WITH A.R. AIRWAYS (CLUB ONE AVIATION) FOR ISMS(TM) SALE Star Navigation Systems Group Ltd. has signed a letter of intent for the sale and installation of its flagship product, the in-flight safety monitoring system (ISMS), with A.R. Airways (Club One Aviation) of New Delhi, India. The 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 VIP 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. Two thousand five should prove to be a very exciting time for Star, our team, our customers and all our shareholders," reports Viraf Kapadia, chairman and chief executive officer. Star is in discussions with airlines operators worldwide for the sale and installation of its ISMS product. We seek Safe Harbor.

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