Archive 2004

European Patent Commission Upholds NovAtel Inc.’s Core GNSS Technology Patent

FOR IMMEDIATE RELEASE

INVESTOR CONTACT:

Sonia Ross (403) 295-4532

    

(Calgary, Alberta, Canada June 23, 2004) - NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, announced today that the European Patent Office (EPO) has upheld the Company’s Narrow Correlator® Tracking Technology patent (EP 0488739 B2). The Board of Appeals of the EPO ruled on February 4, 2004 that the patent is valid, requiring only minor changes to certain of the broader claims of the patent. The patent was the subject of an Opposition in Europe filed in 1997; NovAtel filed an appeal in 1999.

According to Pat Fenton, Chief Technology Officer for NovAtel, “We are very pleased with this ruling as it confirms NovAtel’s ownership of this important core Global Navigation Satellite System (GNSS) technology. We anticipate that this may result in future licensing and royalty opportunities.”

NovAtel is renowned for its awarding winning, Narrow Correlator® tracking technology. This core GNSS technology delivers a significant improvement in positioning accuracy, instantaneously and in real-time, utilizing satellite ranging signals. Narrow Correlator revolutionized the Global Positioning System (GPS) industry by successfully challenging the notion that high precision was possible only with P-code tracking or more expensive dual frequency receivers.

About NovAtel Inc.
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’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. The Company is focused on supplying core high-precision positioning technology to original equipment manufacturers (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 financial guidance, are forward-looking statements. These forward-looking statements are not based on historical facts but rather on management’s expectations regarding NovAtel’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Statements in this news release about the Company’s future plans and intentions, results, outlook, levels of activity, performance, goals or achievements or other future events constitute forward-looking statements. Wherever possible, words such as ‘‘anticipate’’, ‘‘believe’’, ‘‘expect’’, ‘‘may’’, ‘‘could’’, ‘‘will’’, ‘‘potential’’, ‘‘intend’’, ‘‘estimate’’, ‘‘should’’, ‘‘plan’’, ‘‘predict’’ or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Such forward-looking statements reflect management’s current beliefs and assumptions and are based on information currently available to management. 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 subsidiaries and joint ventures, establishing and maintaining effective distribution channels, certification and market acceptance of NovAtel’s new products, impact and timing of large orders, credit risks of customers and joint ventures, financing of joint ventures, 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, U.S. dollar to Canadian dollar exchange rate fluctuations, the impact of industry consolidations, vulnerability to general economic, market and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, 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. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, NovAtel cannot assure investors that actual results will be consistent with these 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.