(Vancouver, Canada) October 17, 2006, 08:00 EST – Norsat International Inc. (TSX – NII.TO; OTC BB – NSATF.OB) announced that the Company’s former president and chief executive officer, Bill Coyne, has filed a lawsuit in B.C. Supreme Court alleging that he was wrongfully dismissed. Mr. Coyne is suing the Company for US $290,115 in unpaid termination fees and bonuses.
The allegations have not been proven and the matter is pending before the B.C. Supreme Court.
Forward Looking Statements
Statements in this news release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat’s public filings with securities regulatory authorities.
The information should be read in conjunction with the Company’s audited consolidated financial statements, related notes included therein and Management Discussion and Analysis for the year ended December 31, 2005. All the Company’s financial statements are prepared in accordance with generally accepted accounting principles in Canada (Canadian GAAP). Additional information from the year ended December 31, 2005, and other information related to the Company, may be found on the company’s website at www.norsat.com.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. For more than 25 years, Norsat has built a strong reputation in the field of satellite technology by providing its customers with innovative products. Additional information is available at www.norsat.com. Additional investor information is available through email at communications_investorrelations@Norsat.com or by phone, 1-604-821-2800 x.171.
