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SpatialNews.com Press Release
NAVTEQ to Map Seven Eastern European Countries by End of 2004
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CHICAGO, Sept. 23 -- NAVTEQ (NYSE: NVT), a leading
global provider of digital map data for navigation systems and location-based
solutions, expects to complete its initial mapping of seven eastern European
countries by the end of 2004. This accelerated build plan is part of the
company's effort to offer a comprehensive navigable map of Eastern Europe that
will facilitate pan-European routing.
As the eastern European population grows, there is increased consumer and
business interest in navigable solutions that support routing to, from and
throughout western and Eastern Europe. NAVTEQ currently offers maps of the
Czech Republic, Slovakia and Greece. Over the course of the next four months,
the company plans to finalize initial navigable maps of the road networks of
major urban areas and the connector roads between these areas in Hungary,
Poland, Slovenia and Croatia, along with connector road coverage of the three
Baltic states of Estonia, Latvia and Lithuania. These maps will integrate
with NAVTEQ(TM) maps of the Czech Republic, Slovakia and the bordering Western
European countries. The result of this initiative: a navigable map that can
route drivers from Barcelona to Budapest, from Rome to Riga.
NAVTEQ intends to begin offering these maps to its direct customers over
the next several quarters*.
Country Release Date
Hungary Q3 2004
Poland Q4 2004
Slovenia Q4 2004
Croatia Q1 2005
Baltic States
(Estonia, Latvia
and Lithuania) Q1 2005
"Our strategy has always been to anticipate and identify countries and
cities where our customers want to offer products and services. NAVTEQ's
aggressive build out of Eastern Europe is a direct result of this strategy.
Our field team is working hard to make it possible for us to offer this
regional product that will allow drivers to route from city to city and
country to country," said John MacLeod, Executive Vice President - Global
Marketing & Strategy for NAVTEQ.
* Due to the highly complex process involved in compiling and integrating
NAVTEQ Maps into navigation systems and location-based solutions, it may take
up to one year for consumers to have access to these new maps for their
navigation solutions.
About NAVTEQ (NYSE: NVT)
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 1,400
employees located in over 100 offices in 20 countries.
NAVTEQ is a trademark in the U.S. and other countries. BR>
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 our plans to expand
our map data coverage for Eastern Europe as well as other 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 significant
uncertainties and changes in circumstances, many of which are beyond our
control. Actual results may differ materially from these expectations due to
changes in global political, economic, business, competitive, market and
regulatory factors.
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