NGPS Novatel (MM)

NovAtel Inc. (NASDAQ:NGPS), a precise positioning technology company, today announced that its new line of OEMV Global Positioning System (GPS) receivers will also be capable of tracking satellites from the growing Global Navigation Satellite System (GLONASS) constellation. Initial releases of the OEMV-2 and OEMV-3 models are expected to be available to customers by the end of March, as previously announced in September 2005, and will include dual-frequency GLONASS measurements as an option. Future releases will include full position and Real-time Kinematic (RTK) options as well as a GLONASS enabled, single-frequency OEMV-1 model. GLONASS is a radio satellite navigation system operated for the Russian government by the Russian Space Forces. It is the Russian counterpart to the United States' GPS and the European Union's future Galileo positioning systems. NovAtel's announcement of GPS+GLONASS capable OEMV receivers follows a recent launch of new GLONASS satellites and a commitment from the Russian government to continue to strengthen the existing GLONASS constellation. "The introduction of GPS+GLONASS receiver technology across our new product line supports NovAtel's long term strategy of providing highly competitive global positioning technology with compelling price/performance to our worldwide customer base. The real benefit to users of combining GLONASS measurements with GPS is the significant improvement in line-of-sight satellite coverage, which can allow reliable positioning and precise navigation even in obstructed environments where GPS alone doesn't work," said Jon Ladd, President & CEO of NovAtel. The OEMV receivers set a new standard in performance, feature set and integration. In addition to GLONASS capability, the OEMV product line supports modernized GPS signals and frequencies (L2C and L5), NovAtel's latest Vision Correlator(TM) multipath mitigation technology, an expanded Application Programming Interface (API), and integrated L-band functionality. NovAtel's OEMV receivers are also designed to meet the European Union's new Restriction of Hazardous Substances (RoHS) directive, which comes into effect in mid-2006. "Customer beta testing of the OEMV family has been very positive. We have seen a very high quality of raw measurement data for both GPS and GLONASS," added Pat Fenton, CTO of NovAtel. "With these impressive results and the industry leading performance of Vision Correlator, our latest multipath mitigation technology, we are confident that the OEMV family will be a highly competitive product line." About NovAtel NovAtel designs, markets and sells high-precision GPS and other positioning components and sub-systems used in a wide variety of commercial applications principally in the aviation, geomatics (surveying and mapping), mining, precision agriculture, marine and defence industries. NovAtel is also the principal supplier of reference receivers to national aviation ground networks in the US, Japan, Europe, China and India. NovAtel's solutions combine hardware, such as receivers and antennas, with software to enable its customers to fully integrate the Company's high-precision GPS technology into their respective products and systems. NovAtel, an ISO 9001 certified company, is focused on supplying core high-precision positioning technology to OEMs and system integrators who build systems for various end market applications. For more information, visit www.novatel.com. Certain statements in this news release, including those about the Company's future plans and intentions, and future performance and market acceptance of its OEMV technology, are forward-looking statements. These forward-looking statements are not based on historical facts but rather on management's current expectations regarding NovAtel's future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Wherever possible, words such as ''anticipate'', ''believe'', ''expect'', ''may'', ''could'', ''will'', ''potential'', ''intend'', ''estimate'', ''should'', ''plan'', ''predict'', "forecast" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including operating results of the Company's joint venture Point, Inc. ("Point"), impact and timing of large orders, U.S. dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, timely launch of new products, certification and market acceptance of NovAtel's new products, impact and timing of large orders, credit risks of customers and the Company's joint venture Point, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, the ability to maintain supply of products from subcontract manufacturers, the procurement of components to build products, product defects, the impact of industry consolidations, vulnerability to general economic, market and business conditions, competition, environmental and other actions by governmental authorities, reliance on key personnel and other factors described in the Company's Form 20-F for the year ended December 31, 2004 and other SEC filings, many of which are beyond the control of NovAtel. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. These forward-looking statements are made as of the date of this news release, and NovAtel assumes no obligation to update or revise them to reflect new events or circumstances. NOVATEL INC. (Nasdaq:NGPS)