OSI Geospatial Confirms Annual Meeting Matters

OTTAWA, May 20 /CNW Telbec/ - OSI Geospatial Inc. (TSX: OSI) (the "Company") confirms that it will hold its Annual General Meeting (the "Meeting") at 10:00 AM Ottawa time on Friday, May 28, 2010, at the Crowne Plaza Hotel, 101 Lyon Street, Ottawa, Ontario.

The agenda for the Meeting will address the usual annual items of business such as presentation of annual financial statements, election of directors, and appointment of auditors. As well, Ken Kirkpatrick, the Company's President and CEO, will provide a corporate presentation.

The agenda also includes consideration of a resolution to ratify, confirm, and approve an amended and restated shareholder rights plan agreement ("New Rights Agreement"), and to authorize and direct any director or senior officer of the Company to execute the New Rights Agreement. The Company originally adopted a shareholder rights plan in 2001 to ensure fair and equal treatment of the Company's shareholders in connection with any take-over bid for the Company. The primary objective was to provide its Board of Directors sufficient time to explore and develop alternatives for maximizing shareholder value if a take-over bid is made for the Company, and to provide every shareholder an equal opportunity to participate in such a bid. The current shareholder rights plan expires at the close of business on the date of the Meeting unless the Company's shareholders approve the continued existence of the shareholder rights plan. As disclosed in the Company's Management Information Circular dated April 16, 2010 (the "Information Circular"), the Company's Board of Directors has approved the adoption of the New Rights Agreement, the material details of which were disclosed in the Information Circular. Since the date of mailing of the Information Circular, the Company has received (and has since adopted) some suggested modifications to the New Rights Agreement from an investor advisory organization. The sole material modification is to revise the definition of "Associate" to limit the scope of such term, as it relates to a person, to the person's spouse or a relative of the person sharing the person's residence. A copy of the draft New Rights Agreement will be available at the Meeting and is available for download at www.sedar.com.

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. For additional information please visit www.osigeospatial.com.

Forward-Looking Statements

This press release contains forward-looking statements and information which reflect the current view of OSI with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.

Copyright (C) 2010 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. iGEN is a registered trademark of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.

For further information: Sandra Oneschuk, Investor Relations, [phone] or 1-888-880-9797, [phone] (FAX), [email protected]