Navitrak Engineering Completes Contract Negotiations With the Government of Canada

Navitrak Engineering Completes Contract Negotiations With the Government of Canada

PITTSFORD, Vt., Feb. 7 /PRNewswire/ -- Navitrak International Corporation (Pink Sheets: NVKI) Navitrak International Corporation is pleased to announce that its wholly owned subsidiary, Navitrak Engineering Inc. based in Halifax, Nova Scotia, Canada has completed contract negotiations with the Atlantic Canada Opportunities Agency (ACOA), an agency of the Government of Canada, to support the company's $4.2 million ARTGis research and development project. Navitrak is eligible to receive up to $2.1 million in matching funds from ACOA over the next two years.

Navitrak currently offers proprietary digital moving map software loaded on Commercial Off the Shelf computer platforms deployed primarily in fixed wing and rotary aircraft. Navitrak also controls gimbal-stabilized day/night infrared cameras with the touch of a Navitrak map, displaying the line-of- sight intercept of the camera image as an accurate footprint overlay on the digital moving map.

ACOA's support will enable Navitrak to develop dedicated hardware to host the data acquisition, camera control, and image processing activities independent of the mapping software engine, significantly enhancing the system's performance by improving data acquisition and sensor control. Intelligence will also be added to the system through data fusion and the development of digital image and signal processing algorithms for object detection, identification and tracking.

The resulting product will be a real-time data delivery, mission management and sensor control system, which will be targeted for use in manned or unmanned airborne assets, ground based vehicles, or handheld devices -- anywhere maps and sensors are deployed.

"We believe that this system will put us in a league of our own, pulling together sensors and digital maps into one real time system that delivers up and distributes the kinds of data the missions we serve require. We waited for the underlying technology to evolve before we made an investment on the hardware necessary to optimize our system" stated Joel Strickland, CEO of Navitrak Engineering. "To make sure we are on the right track we have gone out and in effect pre-sold our vision to a couple of customers. It's a rapidly developing marketplace and our goal is to create the standard interface for the sensor manufacturers to adhere to. This is an ambitious goal for us but a big prize if we can achieve it. The support from the Canadian Government through ACOA will certainly help us get there faster."

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward looking statements.

Corporate Headquarters
Navitrak International Corporation
3222 US Route 7 Pittsford, VT 05763
Telephone: 800-661-7830
Fax: 888-639-4097

Investment Information:
J.A. Michie, Managing Director
G.M. Capital Partners, Ltd
Usteristrasse19, CH-8023
Zurich, Switzerland
Tel: +41.44.226.5000
Tel: (800) 647-9877
Fax: +41.44.226.5009
Email: jam@gmcapital.com


Source: Navitrak International Corporation

CONTACT: J.A. Michie, Managing Director, G.M. Capital Partners, Ltd,
+41 44 226 5000, or 1-800-647-9877, or fax, +41 44 226 5009, or
jam@gmcapital.com


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