Contest Judging to Take Place in Spring 2006 in Both Europe and North America for First Time
CHICAGO, May 11 — NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, will be hosting the official judging of its third annual NAVTEQ Global LBS Challenge in conjunction with key wireless industry trade shows in North America and Europe. A developer contest created to catalyze growth in the location-based services industry, the NAVTEQ Global LBS Challenge encourages developers to build location-enabled applications for wireless devices.
The NAVTEQ Global LBS Challenge was first launched in North America in October 2003 and was focused on driving the development and visibility of innovative navigation solutions for wireless devices. The second annual contest expanded the potential contestant base beyond North America to include developers from around the world and introduced six solution categories to encourage application developers to explore new and creative location-enabled solutions. NAVTEQ’s decision to proceed with the contest for a third year stems from industry validation of the value the Challenge has created for the LBS industry overall. Both the first and second annual Challenges were met with overwhelmingly positive feedback from all participants in the LBS value chain — participating developers, sponsors and wireless carriers.
Representatives from many of the top wireless carriers will once again serve as judges of the Challenge as the contest moves into its third year. “Personally, I find tremendous value in serving as a judge in the LBS Challenge,” said Joe Averkamp, Director — Business Development, Sprint. “As an industry, we’re all focused on providing our customers with useful and innovative applications and NAVTEQ is doing a great job of bringing the application community together with this competition to recognize those top LBS applications.” Dale Beasley, LBS Product Manager for Verizon Wireless, who also served as judge in the second annual LBS Challenge, commented, “The NAVTEQ LBS Challenge is helping the industry immensely. NAVTEQ is helping to ‘push’ the industry to a new level, just by getting the word out about location-based services.”
For the solution developers, the Challenge represents a unique and prized opportunity to showcase their applications to the most critical players in the LBS value chain: the wireless carriers. “The NAVTEQ Global LBS Challenge has given uLocate incredible exposure with both carriers as well as perspective partners. It is the perfect opportunity to grow our business,” said Jon Finegold, Director of Business Development for uLocate, a runner up in the first LBS Challenge. The 2003 LBS Challenge grand-prize winner and 2004 Gaming/Location-Based Imaging category winner, Networks in Motion, recognizes the Global LBS Challenge as a critical driver of the LBS category awareness. “The Wireless LBS Challenge was a seminal event for Networks In Motion and the LBS industry. It brought cell phone based LBS to national attention, and helped launch an industry that will fundamentally change the way people travel and interact in a mobile environment,” said Stephen Petilli, Chairman and Executive Vice President of Business Development, Networks In Motion.
Noted Konny Zsigo, President of the WirelessDeveloper Agency, “There is not a single company that has raised the profile and the location based industry more than NAVTEQ has with the LBS Challenge.”
The NAVTEQ Global LBS Challenge is expected to officially begin this fall. More information about the third annual NAVTEQ Global LBS Challenge including contest rules, key dates and milestones will be available in the upcoming months. For more information about last year’s NAVTEQ Global LBS Challenge, visit the LBS Challenge web site at: http://www.lbschallenge.com .
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices and Internet-based mapping applications. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,500 employees located in over 100 offices in 20 countries. NAVTEQ is a trademark in the U.S. and other countries.
This document may include certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption “Risk Factors” in the Company’s Registration Statement on Form S-3 (Registration No. 333- 123628), as amended, as filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.