OSI Geospatial Announces Delay in Release of Fourth Quarter and Fiscal Year 2007 Results

OTTAWA, CANADA -- (MARKET WIRE) -- 02/26/08 -- OSI Geospatial Inc. (TSX: OSI)(OTCBB: OSIIF) today announced that it will delay the release of its financial results for the fourth quarter and fiscal year ended November 30, 2007. The company's fourth quarter and fiscal year 2007 results will not be finalized in time to meet the original schedule. The webcast and conference call scheduled for 4:30 PM, Eastern Time (1:30 Pacific Time) February 27, 2008 will also be cancelled. The Company will provide further updates as to the timing for a new webcast and conference call and in the event that it cannot meet its regulatory filing deadline of February 28, 2008.

OSI will delay the reporting of its 2007 results in order to fully address questions received from the U.S. Securities and Exchange Commission. The company and its auditors have decided that in light of these questions, more time is required to complete this year's financial audit.

About OSI Geospatial

OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OSIIF). For additional information please visit www.osigeospatial.com.

Contacts: OSI Geospatial Inc. Jane Hayward Investor Relations +1-613-287-8004 or +1-888-880-9797 +1-613-287-0466 (FAX) invest@osigeospatial.com

2008-02-26 23:04:07 0299002 MARKETWIRE