OSI Systems Appoints Special Venture Consultant for OSI Fibercomm Inc. to Explore Strategic Opportunities for Fiber Optics Subsidiary

11 December 2000

OSI Systems Appoints Special Venture Consultant for OSI Fibercomm Inc. to Explore Strategic Opportunities for Fiber Optics Subsidiary

    HAWTHORNE, Calif.--Dec. 11, 2000--OSI Systems Inc. today announced that the company has retained Sanjay Sabnani, president of Typhoon Capital Consultants LLC (www.typcap.com), as special venture consultant for OSI Fibercomm.
    In this capacity, Sabnani and his company will assist in exploring financial and business development opportunities available to OSI Systems regarding its fiber optics subsidiary. Sabnani has also been appointed to OSI Fibercomm's Advisory Board.
    Commenting on this news, Deepak Chopra, CEO of OSI Systems and OSI Fibercomm stated, "We welcome Sanjay's expertise in venture formation and corporate finance. In addition to financial advisory services, Sanjay and his team are assisting us in increasing the visibility of OSI Fibercomm in the industry."
    Chopra continued, "I look forward to more actively participating in the operations of OSI Fibercomm, which since its recent formation, has grown in both scope and product offerings. OSI Fibercomm is bringing innovative and high-quality products to the optical networking market."
    OSI Systems also announced that Jack Basi, the vice president/general manager of OSI Fibercomm, has left OSI Fibercomm to pursue other interests. "We would like to thank Jack Basi for his contributions to the development of OSI Fibercomm, and wish him the best in his future endeavors," added Chopra.
    Sabnani is a specialist in venture formation, transactional advisory services and corporate re-engineering. Most recently, Sabnani served as president of Venture Catalyst Inc. and led the business and strategic transformation of the former Inland Entertainment into a professional service firm catering to high growth ventures.
    Additionally, Sabnani has extensive securities experience, having served as a principal in a NASD member firm, and as the president of an investor relations agency, where he developed and managed capital raising and investor relations programs for over 25 publicly traded companies.
    Typhoon Capital Consultants LLC, a boutique corporate finance and consulting company, was founded by Sabnani in 1996. The company specializes in corporate repositioning, financial communications, and capital sourcing.

    About OSI Systems Inc.

    OSI Systems Inc., is a worldwide manufacturer and seller of X-ray inspection and metal detection systems under the trade names Rapiscan(TM), Metor(TM) and Secure(TM). OSI Systems also sells complete life science applications systems, including X-ray and ultrasound products for detecting osteoporosis under the trade names UltraSure(TM) and DexaCare(TM).
    In addition, OSI Systems designs, manufactures and sells optical and pressure-sensitive electronics systems and subsystems worldwide through its global network of sales and manufacturing facilities in Singapore, Malaysia, Norway, Finland, the United Kingdom and the United States.
    OSI Systems' customers include many of the leading Fortune 1000 companies. OSI Systems' products are used in a broad range of applications in the security, medical, fiber optics, communications, aerospace, oil exploration and automotive industries.

    "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties including those risks detailed in the company's Securities and Exchange Commission filings that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues.