Garmin Ltd. extends agreement with NAVTEQ

"Garmin has partnered with NAVTEQ for many years. We utilize their map data in the majority of our products and we have always appreciated their commitment to the market," said Garmin CEO Dr. Min Kao. "Extending our agreement with NAVTEQ ensures the availability of quality mapping data for our customers, and provides a basis for enhanced cooperation which is a win-win for both Garmin and NAVTEQ. We believe the outcome creates the best value for Garmin, our customers, and stakeholders."
In addition, and with reference to the press release dated October 31st, 2007, Garmin also announced today that in light of these developments it does not intend to pursue its offer for Tele Atlas N.V.