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News ReleaseNovAtel Inc. Selected as a Fast 50 Leadership Award Winner in 2006 Deloitte Technology Fast 50 Program
(Calgary, Alberta, Canada, September 21, 2006)— NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, has been selected by Deloitte as a Fast 50 Leadership award winner. The Fast 50 Leadership awards recognize superior business performance judged against the norms of individual technology sectors. Selection is based on competitive advantage, market attractiveness, profitability and management effectiveness, and 2005 financial performance. NovAtel’s CEO, Jon Ladd, credits the company’s achievement on its commitment to bring superior Global Navigation Satellite System (GNSS) positioning solutions to its customers, by developing precise positioning components and software that its customers integrate into a wide range of positioning, navigation and guidance applications worldwide. Ladd said, “I believe our success is a direct result of our focus on executing our core strategy, providing our customers with innovative, competitively-priced products and exceptional technical support. We continue to invest significantly in technology leadership and are actively looking for more partnership and acquisition opportunities that will provide us access to complementary technologies to broaden our technology base, as well as opportunities that will allow us to better address new markets.” “The Deloitte Technology Fast 50 Leadership award goes beyond recognizing only financial performance to take into account other business practices such as quality of management, competitiveness, market size and a range of financial performance measures,” said John Ruffolo, National Leader, Technology, Media & Telecommunications, Deloitte. “We are proud to have selected NovAtel Inc. as a Deloitte Fast 50 Leadership award winner, and we applaud their success and vision.” About NovAtelNovAtel 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. About DeloitteDeloitte, one of Canada’s leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,200 people in 50 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Certain statements in this news release, including those about the Company’s future plans and intentions, long-term growth prospects, levels of activity or other future events, 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, certification and market acceptance of NovAtel’s new products, 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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