Software Radio Technology Announcement

15 March 2013
Software Radio Technology Announcement

US$7 million Orders Received

Software Radio Technology plc ("SRT") is pleased to announce that it has received frame orders worth over US$7 million from customers located in North America. Approximately US$2.6 million of the orders will be delivered during the current financial year ending 31 March 2013 with the balance to be delivered over time in response to market demand.

The orders are for SRT's AIS Class A product and are a result of a general increase in demand for AIS products worldwide and pending new mandate requirements in the USA which are expected to come into force during 2013. The orders are from longstanding existing customers who have been actively selling SRT's AIS products for a number of years.

Simon Tucker, Chief Executive Officer of SRT, said: "This is a demonstration of how the global AIS market is growing. AIS is now an established marine technology and with only a very small proportion of the global vessel fleet fitted so far and momentum building, I expect we will see more of the same in the future. As the world's leading supplier of AIS technology and products, SRT's challenge will be to continue to be a reliable supplier to our growing customer base who are addressing a growing and very diverse range of markets. I believe the team we have assembled and the investments we have made over the last five years will enable us to meet that challenge."

It is expected that the trial could take up to 12 months and require additional product customisation before commencement of a large scale rollout.

Simon Tucker, CEO, Software Radio Technology plc, said: "With many hundreds of thousands of fishing vessels, India is an enormous market opportunity for SRT and we believe that our Identifier and Class B products provide ideal platforms which can be customised for specific requirements. Whilst small, this order is a major step forward in the India vessel tracking programme and we look forward to continuing our work with Elcome to provide India with a robust and reliable small vessel tracking solution that the authorities are confident can be rolled out nationally."