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News ReleaseNovAtel Inc. Technology is OnBoard Neural Robotics' Autonomous Mini-Helicopter
(Calgary, Alberta, Canada, September 27, 2006) — NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, announced today that its GPS receiver is onboard Neural Robotics Inc.’s (NRI) AutoCopterTM Express Unmanned Aerial Vehicle (UAV) – a fully autonomous and electric-powered mini-helicopter that can be used as an aerial platform in the sky for applications including aerial photography, surveillance, pipeline and utility line inspection, convoy escort, and mine detection. The key technology in the AutoCopter is NRI’s patented neural network-based flight control system. The algorithms in this system provide the "intelligence" to allow operators, without any piloting experience, to maneuver the helicopter (via joysticks on the transmitter) to takeoff and land, fly to a point and hover, etc. The system can also be flown in a fully autonomous mode (automatic takeoff, pre-programmed flight path, and automatic landing). The system consists of NovAtel’s GPS+ Wide Area Augmentation System (WAAS) capable receiver combined with a PC/104 computer, and attitude and heading reference system. “NovAtel is excited to be onboard such an innovative UAV. Our feature rich, precision GPS receivers are ideally suited to applications such as the AutoCopter. NovAtel continues to make strides in this emerging market segment with currently over 25 design wins in both military and commercial sectors,” according to Graham Purves, Vice President of Sales for NovAtel. “NRI has depended on the quality and reliability of NovAtel’s GPS receivers since the inception of our company. The flexibility of their product line allows us to tailor GPS solutions according to the requirements of each AutoCopter customer,” according to Michael Fouche, CEO of NRI. About Neural Robotics Inc.NRI specializes in the design and manufacture of affordable unmanned rotorcraft (called AutoCopterTM) for both the commercial and government markets and has exported AutoCopters to three continents (Europe, Asia, and South America). NRI’s core technology is the set of neural network flight control algorithms that allow the operator to fly the AutoCopter with confidence – whether performing aerial surveys or carrying a payload that is slung 30 feet under the AutoCopter. For more information, visit www.neural-robotics.com. 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 levels of activity and growth prospects in the UAV market, 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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