Vancouver, Canada – October 14th, 2008 – Norsat International Inc.
(TSX – NII.TO; OTC BB – NSATF.OB), a leading provider of intelligent
satellite solutions, today announced that Dr. Amiee Chan, president
and CEO, was named a 2008 Pacific Ernst & Young Entrepreneur Of The
Year awardee in the category of turnaround entrepreneur. Dr. Chan
was recognized for having achieved a positive reversal in Norsat's
financial fortunes over the past two years by an independent
judging panel composed of several distinguished business leaders
and previous award recipients.
"Dr. Amiee Chan's remarkable focus and strategic approach to
rebuilding and re-engineering all aspects of her business have
enabled her to deliver an exceptional turnaround," said Fred Withers,
Director of the Ernst & Young Entrepreneur Of The Year Awards
program for the Pacific region. "Dr. Chan has demonstrated a spark
that is reflected in her unique capability to engage her team to
propel and enhance performance in all areas of her business."
Under Dr. Chan's direction, Norsat returned to, and has maintained
profitability, in each of the seven quarters since she was appointed
CEO in September 2006.
About the Ernst & Young Entrepreneur Of The Year Awards
The Entrepreneur Of The Year Awards honour the spirit and contribution
of entrepreneurs here and around the world. This year, the Canadian
program is proudly celebrating a milestone anniversary – 15 years
of honouring Canada's most impressive entrepreneurs from all areas
of business.
This year's independent judging panel included Art Aylesworth,
President, Osprey Management Ltd.; Donna Bridgeman, Vice President,
Investments, GrowthWorks Capital Ltd.; Bev Briscoe, President,
Briscoe Management Ltd.; Jim Case, President & CEO, Scotia Dealer
Advantage Inc.; Bob Gayton, Director, Western Copper Corporation;
Tracey McVicar, Managing Director, CAI Capital Management Co.; and
Jim Moore, President & CEO, Stork Craft Manufacturing Inc.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent
satellite solutions for high-speed data transmission. The company's
portfolio of capabilities include: microwave components; fixed,
transportable, ultra-portable, vehicle-mounted and maritime
satellite systems; turnkey maritime navigation and communications
systems; and end-to-end network services. Norsat is headquartered
in Vancouver, Canada, with offices in Annapolis, Maryland; Lincoln,
United Kingdom; Stockholm, Sweden; Monte Carlo, Monaco; Rome, Italy;
and Daejeon, South Korea. Additional information is available at
www.norsat.com, via email at investor@norsat.com or by phone at
1-604-821-2808.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction
and advisory services. Worldwide, our 135,000 people are united by
our shared values and an unwavering commitment to quality. We make
a difference by helping our people, our clients and our wider
communities achieve their potential. For more information,
please visit www.ey.com/ca.
For further information, contact:
Dr. Amiee Chan
President and CEO
Tel: 604 821-2808
Email: achan@norsat.com
Kristen Dickson
The Equicom Group
Investor Relations
Tel: 416-815-0700 x 273
Email: kdickson@equicomgroup.com
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.
This information should be read in conjunction with Norsat's audited
consolidated financial statements and related notes included therein
for the three months ended June 30th, 2008, and the Management
Discussion and Analysis for the three months ended June 30th, 2008.
All of the company's financial statements are prepared in accordance
with Canadian generally accepted accounting principles (Canadian
GAAP). Additional information may be found at www.norsat.com.
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