Software Radio Technology Announcement

15 October 2012
Software Radio Technology Announcement

Software Radio Technology plc announce commencement of Russian shipments

Software Radio Technology plc ("SRT" or the "Company"), is pleased to announce that it has commenced the shipping of GLONASS enabled and approved AIS products to its partner, Transas Navigator in Russia. The Company also announces that it has received a further order for $350,000 of GLONASS-enabled Class B products.

Since the announcement of the national AIS mandate in Russia in November 2011, SRT has so far received orders totalling $1.6 million for GLONASS AIS products. Since that time, SRT has undertaken extensive development work to modify its standard Class A and Class B products to accommodate GLONASS and other required local functionality to secure local Russian approval of the products. This work was completed in September 2012, enabling production to commence and the first shipments of Class A products, worth $250,000, in October.

Simon Tucker, CEO, commented: "Our investments in new technologies, combined with our talented engineering team have enabled us to customise our standard OEM products to meet local Russian requirements in a short timescale. This is another substantial market opportunity which is now open for business for SRT and our partners."