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To: HandsOn who wrote (20787)	10/8/2001 1:01:59 PM
From: Frederick Langford	Respond to of 208838

No he PM'd last night and said he was concentrating on MOT reporting Tuesday and Yahoo Wed. Taking a well deserved break... More on OSIS: Rapiscan Announces $1.4 Million FAA Phase Ii Grant for Explosives Detection Device October 04, 2001 05:00:00 (ET) HAWTHORNE, Calif., Oct 4, 2001 (BUSINESS WIRE) -- OSI Systems (OSIS, Trade): -- Security product sales represent approximately 50% of OSI Systems' revenue base -- Rapiscan Airport locations include LAX, JFK and Heathrow International Airport Rapiscan Security Products Inc., a wholly owned subsidiary of OSI Systems Inc. (OSIS, Trade), today announced that it has received an approximate $1.4 million follow-on grant from the FAA's William J. Hughes Technical Center under the agency's grants program for the development of an automated explosives detection device. This Phase II grant, toward the construction of a working prototype device, follows a recently completed Phase I feasibility study grant. The device is geared toward screening airline baggage, both carry-on and checked, for the presence of explosives. Deepak Chopra, chairman and CEO of OSI Systems, stated: "We are very pleased to announce this FAA grant for the commencement of the second phase of development of advanced explosives detection products to increase aviation security. Rapiscan accounts for approximately 50% of our yearly revenues of over $110 million. "Our products are installed in over 100 countries worldwide, and our airport installations include such key transportation hubs as Los Angeles International, JFK International and Heathrow Airport. "Rapiscan's wide range of security systems are used globally to combat terrorism and smuggling. This recent award from the FAA follows a previously announced Master Agreement with the FAA valued at up to $40 million for the purchase of 800 X-ray screening systems. "In June of this year, as part of this Master Agreement, we announced a $6.9 million order from the FAA, which we are on track to complete delivery of by the end of our fiscal 2002 second quarter, which ends December 31, 2001." Rapiscan Security Products is a leading supplier of high-quality X-ray screening and explosive detection systems. The company has delivered thousands of these detection systems to customers worldwide for use in airports, customs facilities, courthouses, government buildings, mail rooms, schools, prisons, embassies and other locations. The Rapiscan product line, marketed under the Rapiscan, Metor and Secure 1000 brand names, is manufactured at four global locations and offers a wide range of security screening systems with diverse technologies. For more information on Rapiscan Security Products, visit www.rapiscan.com. OSI Systems is a diversified global developer, manufacturer and seller of optoelectronic-based components and systems. The company has more than 30 years of optoelectronics experience, and through its family of subsidiaries, competes in four specific growth areas: OEM Manufacturing, Security, Medical and Fiber Optics. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. Fred