NovAtel [Nasdaq: NGPS], a precise positioning technology firm, has been selected by The Institute of Navigation (ION) and the National Aeronautic Association (NAA) to develop a GPS differential system for use by the NAA in establishing straight course speed records for aircraft in flight. The system is expected to be complete by May 2004. One of the primary functions of the NAA is to encourage, coordinate, document and promote competition and record-making aviation and space events in accordance with the rules prescribed by the Federation Aeronautique Internationale, of which NAA is the official U.S. representative.