Mr. Randy Koroll reports

STAR NAVIGATION ANNOUNCES JOINT VENTURE AGREEMENT WITH PROACE BUSINESS SOLUTIONS INC.

Star Navigation Systems Group Ltd. has signed a joint venture (JV) agreement with ProAce Business Solutions Inc.

Star has agreed to license its ISMS technology to ProAce. The companies will create a new JV corporation, which will be formed in India under the name of Star ProAce India Private Ltd. At the initial stage, Star will hold 10 per cent of the new JV company, but will have the opportunity to acquire an additional 18 per cent (upon Star ProAce obtaining required approvals from government bodies in India) for a total equity holding of 28 per cent of the JV company. ProAce will assume all responsibility for expenses incurred to obtain the necessary permissions and contracts to have the Star ISMS technology implemented in India. The JV agreement also contains anti-dilutive clauses to ensure that Star's equity portion of the JV company is never less than 10 per cent.

With extensive experience in navigating through the complexities of attaining government contracts and projects, ProAce can help Star gain unparalleled access to these projects. They have established channels and connections through previous successful ventures that grant them access to a wide array of government contracts and projects. The key to Star ProAce being successful in gaining these approvals is to have a permanent office set up and to build the Star ISMS units in India under the supervision of Star and with approval of every component to the highest standards. ProAce believes the "built in India" approach will help with the granting of approvals in India.

Randy Koroll, chief executive officer at Star, states: "Star has been looking for a partner to help open up India to the Star technology for many years now. "We have the utmost confidence that ProAce has the people and commitment to tackle this vast market and help market Stars' ISMS technology there."

Gurjot Grewal, chief executive officer and founder of ProAce, added: "ProAce feels that with its depth of experience and approach that this agreement between Star and ProAce will be successful in the long term, and we are excited to partner with Star to market and promote the Star ISMS solution into India, as well as expanding into other global markets."

About Star Navigation Systems Group Ltd.

Star manufactures the in-flight safety monitoring system, Star-ISMS, the heart of the Star-ADS system. The Star-ADS system has real-time capability of tracking, performance trends and predicting incident-occurrences, which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI division (military and defence) designs and manufactures high performance, mission-critical, flight deck flat-panel displays for defence and commercial aviation industries worldwide.

About ProAce Business Solutions Inc.

ProAce is a strategic consulting and process optimization to cutting-edge technology integration and work force development. It partners with its clients to drive growth, enhance efficiency and unlock new successful opportunities in the Asian markets.

ProAce operates with a holistic mindset, acknowledging and addressing both the strong points and areas for improvement within businesses. Through meticulous analysis and carefully crafted strategies, ProAce equips enterprises with the tools they need to soar to unprecedented heights of achievement. Together with an experienced leadership team, ProAce's approach blends creativity with precision and ProAce is committed to crafting tailored solutions that drive sustainable growth for its clients.

Partnering with ProAce opens doors to valuable resources and knowledge from firms across different countries. The collaborative arrangements enable businesses to access resources that would otherwise be beyond their reach, fostering innovation and growth. ProAce believes that partnerships are indispensable tools for global expansion. By forming alliances, firms can pool resources, share risks and enhance their presence in international markets. ProAce empowers businesses to execute its global strategies with confidence and efficiency.

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