Aug 13, 2008

OSI Systems Receives Follow on Contract for Approximately $10 Million for Electronic Sub-Assemblies

OSI Systems Receives Follow on Contract for Approximately $10 Million for Electronic Sub-Assemblies 12.7 KB

HAWTHORNE, Calif., Aug 13, 2008 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the Security and Healthcare industries, announced today that its Optoelectronics and Manufacturing division received an approximate $10 million follow-on order from ITT Corporation for electronic sub-assemblies.

The electronic sub-assemblies are to be used by the U.S. Department of Defense in their Mine Resistant Ambush Protected ("MRAP") armored vehicle program. Contract awards to date for this program total approximately $65 million.

About OSI Systems, Inc.

OSI Systems Inc. is a Hawthorne, California based diversified global developer, manufacturer and seller of security and inspection systems, medical monitoring and anesthesia products, and optoelectronic devices and value-added subsystems. The Company has more than 30 years of experience in electronics engineering and manufacturing and maintains offices and production facilities located in more than a dozen countries. OSI Systems implements a strategy of expansion by leveraging its electronics and contract manufacturing capabilities into selective end product markets through organic growth and acquisitions. For more information on OSI Systems Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the company's expectations, goals or intentions about the future, including, the Company's contracts to deploy its electronic sub-assemblies. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the sub-assemblies may not ultimately remain in line with the Company's current expectations. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

SOURCE: OSI Systems, Inc.

OSI Systems, Inc.
Jeremy Norton, 310-349 2372
Vice President, Investor Relations & Business Development
jnorton@osi-systems.com

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