Oct 30, 2008

OSI Systems Awarded Approximate $6 Million Contract from TSA for High Speed CT Checked Baggage Screening Solution

HAWTHORNE, Calif., Oct 30, 2008 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ:OSIS), a vertically integrated provider of specialized electronics products for critical applications in the Security and Healthcare industries, announced today that its Security division, Rapiscan Systems, has been awarded an approximate $6 million contract by the United States Transportation Security Administration (TSA) for its Rapiscan RTT (Real Time Tomography) high-speed stationary gantry Computed Tomography (CT) baggage screening system.

The Rapiscan RTT is a baggage screening system that generates high-resolution 3-D X-ray images of passenger baggage to detect potential threats more accurately and at a higher speed than any currently available technology.

OSI Systems Chairman and CEO, Deepak Chopra, stated, "The Rapiscan RTT system represents a complete departure from all presently-deployed concepts in CT baggage screening. Using a stationary gantry/fixed source design, the Rapiscan RTT system is able to achieve speed and resolution that is unprecedented in legacy CT designs."

Rapiscan RTT: A Break from Legacy CT Designs

The Rapiscan RTT system works unlike any legacy CT design. By eliminating the legacy design's moving gantry, the Rapiscan RTT captures images at several times the speed of legacy CT's, at higher resolution and with lower anticipated maintenance costs.

Rapiscan RTT Advantages Over Legacy CT Baggage Screening Systems

The Rapiscan RTT's radical design is expected to result in the following advantages over legacy CT systems:

-- Enhanced Threat Detection: The Rapiscan RTT's dramatically higher resolution potentially allows the system to more accurately detect a wide range of potential threats.

-- Lower Cost of Ownership: The Rapiscan RTT can lower the overall cost of ownership by: (a) anticipated lower maintenance costs with the elimination of a complex rotating gantry; (b) high throughput results in fewer machines necessary to handle a given volume of bags; (c) the system can be integrated inline with the existing baggage conveyor network without the need for costly modifications or reconfiguration.

About OSI Systems, Inc.

OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applicationsinthe homeland security, healthcare, defense and aerospace industries. We combinemore than 30 years ofelectronics engineering and manufacturing experience withoffices and production facilities in more than a dozen countries toimplement a strategy of expansion into selective end product markets. 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 contract with the Transportation Security Administration for the Real Time Tomography (RTT) systems. 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 RTT systems 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 
Vice President 
Investor Relations & Business Development 
+1-310-349-2372 
jnorton@osi-systems.com

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