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May 1, 2002

Garmin to Debut NavTalk GSM Phone with CEC Telecom in China

OLATHE, Kan./ May 1, 2002 / PR Newswire/ — Garmin International Inc., a unit of Garmin Ltd. (Nasdaq: GRMN), today announced that its GPS-enabled mobile phone for worldwide GSM networks — the NavTalk GSM — will begin shipping this week in the People’s Republic of China (PRC) through the company’s business partner, Beijing-based CEC Telecom Co. Ltd.

The Chinese version of the NavTalk GSM, which will be marketed by CEC Telecom throughout the PRC (including Hong Kong), is Garmin’s first entry into the large Chinese GSM market. Although the companies will not disclose the details of the contract, this agreement represents a multimillion-dollar initial order of the NavTalk GSM for Garmin.

"CEC Telecom has an extensive national sales force to successfully roll out the NavTalk in China and establish the benefits of GPS-enabled products in a new, exciting market for our company," said Gary Burrell, co-CEO and co-chairman of Garmin Ltd. "We believe the NavTalk will open new traveling possibilities for the mobile user anywhere in the PRC."

Yang Xiao Tang, president of CEC Group, said: "Garmin has a proven track record of product innovation and its NavTalk delivers unique capabilities to our mobile phone offerings in China. This product will be used in a variety of ways to enhance both business productivity and leisure activities."

Garmin’s NavTalk GSM converges GPS and cellular technologies to deliver a unique feature called "position reporting" — a feature that opens avenues for vehicle tracking and enables NavTalk users to transmit their position to other users and see multiple contacts on the high-resolution display. Coupled with the GPS navigation, GSM communication and personal information management capabilities of the CEC version, the NavTalk GSM becomes a powerful tool in the hands of China’s growing mobile workforce.

By partnering with CEC Telecom, Garmin also tailored the NavTalk GSM to meet the needs of the Chinese market. The CEC model of the NavTalk features a Chinese interface, Chinese basemap and the ability to download detailed street maps of major Chinese cities — creating an appealing product for a wide array of users.

About Garmin:

Garmin International Inc. is a member of the Garmin Ltd. (Nasdaq: GRMN) group of companies, which designs and manufactures navigation, communication and information devices -- most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at www.garmin.com/pressroom, or contact the Media Relations department at 913-397-8200. GARMIN and NavTalk are registered trademarks of Garmin Ltd. or its subsidiaries.

About CEC Telecom:

CEC Telecom Co. Ltd. is a subsidiary of China Electronics Corp. (CEC), which has mobile handset business partnerships with Philips Electronics Consumer Communications. The company’s world-class R&D capacity, advanced production and testing bases, and well-established national sales and service network enable it to promote the rapid development of China’s information industry through the delivery of cutting-edge telecom products. For more information, visit the company’s website at www.cectelecom.com.

Notice on forward-looking statements:

This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business. Any statements regarding the company’s future financial position, revenues, earnings, product introductions, plans and objectives are forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors affecting Garmin. Information concerning risk factors that could affect Garmin’s actual results is contained in the Annual Report on Form 10-K for the year ended December 29, 2001 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s Form 10-K can be downloaded from http://www.garmin.com/aboutGarmin/invRelations/finReports.html.

 

 

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