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News ReleaseNovAtel Inc. Opens Two New Regional Sales Offices
(Calgary, Alberta, Canada, July 12, 2006) — NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, is pleased to announce the opening of its Australian regional sales office, located in Sydney. NovAtel has invested in an Australian office in order to better service customer needs in this geographic area. Rod MacLeod, formerly of SAGEM, will head up this office on behalf of NovAtel. The new Australian regional sales office comes after the recent launch of NovAtel Europe, located in the UK and headed by Rick Blighton, formerly of Ashtech and Thales. According to Graham Purves, Vice President, Sales for NovAtel, “NovAtel’s rapid growth in worldwide markets requires more dedicated resources. We believe that the best way to continue to expand our product sales and brand awareness is to utilize regional representatives who can better understand and meet customer and dealer needs specific to their geographic markets.” The new Australian regional sales office will manage sales and business development for Australia, New Zealand, the Philippines and India. As Regional Sales Manager for these areas, Mr. MacLeod brings 20 years of experience in GPS and GLONASS technology including authoring many technical application papers. His expertise will be instrumental in the continued development of this region. Earlier this year, NovAtel opened a European office, headquartered in Oxford, to manage sales and business development for Europe, Africa and the Middle East. As Senior Sales Manager for these areas, Mr. Blighton brings to NovAtel a long history in GPS and GLONASS sales and support, as well as extensive knowledge of the region. 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 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 ability to maintain worldwide growth, 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, 2005 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. |
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