Garmin Ltd. Intends to Make a Cash Offer for Tele Atlas N.V.

Cayman Islands (ots/PRNewswire) -

Garmin Ltd. (Nasdaq: GRMN) announced today that it notified the
supervisory and managing boards (collectively the "Boards") of Tele
Atlas N.V. ("Tele Atlas" or "the Company") today of its intention to
make a public offer for all the outstanding shares of Tele Atlas N.V.
on a fully diluted basis at an indicative offer price of euro 24.50
in cash per share (the "Offer"), implying an equity value for the
Company of euro 2.3 billion. The intended Offer will be subject to
customary conditions, such as receipt of the requisite antitrust
approvals and tender of at least 66.67% of the issued share capital.
In addition to its cash balance in excess of US$1 billion, Garmin has
secured financing commitments sufficient for the intended Offer.
Garmin plans to launch the offer before December 4, 2007 (the
scheduled expiry date of TomTom's offer).

(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)

Garmin believes that a combination of Garmin and Tele Atlas
provides the best value for all stakeholders for the following
reasons:

-- Garmin's intended offer is a materially higher cash value for Tele
Atlas' shareholders than the offer made by TomTom, 15% higher than the
offer by TomTom and a 48% premium to the undisturbed Tele Atlas share
price on July 20, 2007
-- A combined company will allow Tele Atlas' employees and customers to
leverage Garmin's large worldwide user base and industry leading
technology to further contribute to the creation of superior mapping
coverage, quality and shared content for all of Tele Atlas' current
and future customers
-- Garmin's broad international footprint, global market share and strong
balance sheet will promote the growth ambitions and prospects of Tele
Atlas and its employees
-- In addition to the benefits associated with the portable navigation
market, a combined company will expand Garmin's ability to serve more
customers in wireless, in-dash automotive, internet, and enterprise
markets by offering a broad range of solutions including content,
applications, and devices.

Commenting on the announcement, Garmin CEO Dr. Min Kao said:
"Given the high growth and rapid change the navigation market has
undergone to date, we feel that now is the right time for Garmin to
move ahead with this proposed combination with Tele Atlas. Together,
we believe that we can create the best available mapping solutions
for our customers around the world. We also intend to make Tele
Atlas' content available to the entire navigation market on a
non-discriminatory basis, promoting healthy competition, with
significant benefits to the navigation market and all its consumers."

It is Garmin's intention that Tele Atlas, following the completion
of the strategic combination with Garmin, will continue its business
as a separate entity, based and headquartered in the Netherlands.
Garmin wishes to retain the existing management team and all of the
Tele Atlas employees and would welcome them into its global family of
nearly 8,000 employees. It also strongly believes that the increased
scale of operations of the proposed combination will offer exciting
and enhanced career opportunities to Tele Atlas' employees and will
create additional jobs in the Netherlands.

Calls were placed earlier today by Garmin executives to Tele Atlas
executives. Prior to this there has been no contact between the two
companies or their respective advisers concerning a strategic
combination. In accordance with section 9d(2) of the Dutch Securities
Market Supervision Decree 1995 (Besluit toezicht effectenverkeer
1995, the "Decree"), Garmin has invited the Boards to meet with
Garmin management within 7 days to discuss the intended Offer and to
determine whether the intended Offer could receive the support and
recommendation of each of the Boards. Garmin prefers that the
intended Offer be supported by each of the Boards but such support
and recommendation is not a condition to launching and consummating
the Offer.

Garmin is a leading, worldwide provider of navigation,
communications and information devices with subsidiaries in the
United States, Canada, Taiwan, the United Kingdom, Germany, France,
Brazil and Singapore with pending acquisitions in Denmark, Italy and
Spain. Through its operating subsidiaries the company designs,
develops, manufactures and markets a diverse family of hand-held,
portable and fixed-mount GPS-enabled products and other navigation,
communications and information products. Garmin's projected FY 2007
revenues are nearly USUS$3 billion, and the company expects to ship
more than 10 million devices in 2007. Garmin sells its products
through a worldwide network of approximately 3,000 independent
dealers and distributors in approximately 100 countries.

This is an announcement in accordance with section 9b(2)(b) and
section 9d(2) of the Decree.

Garmin's key advisers are Credit Suisse Securities (USA) LLC,
Wachovia Capital Markets LLC, Allen & Overy, Cleary Gottlieb Steen &
Hamilton LLP, Ernst & Young, KPMG and Finsbury.

Garmin executives will discuss this transaction today at 10.00
CST/11.00 EST/15.00 GMT/16.00 CET during its third quarter earnings
call. For more information, visit
http://www8.Garmin.com/aboutGarmin/invRelations/irCalendar.html.

Important Information

Not for release, publication or distribution in whole or in part
in Canada, Australia, Japan or Italy. In connection with the proposed
Offer, Garmin expects to produce definitive offer materials,
including an Offer Memorandum pursuant to Dutch law. Investors are
urged to read any documents regarding the proposed Offer if and when
they become available because they will contain important information
regarding the proposed Offer. Investors will be able to obtain copies
of such documents from Garmin, free of charge, once they are
available. This announcement shall not constitute an offer to buy or
the solicitation of an offer to sell any securities, nor shall there
be any purchase of securities in any jurisdiction in which such
offer, solicitation, purchase or sale would be unlawful prior to
registration or qualification of the proposed Offer under the
securities laws of any such jurisdiction. The information on Tele
Atlas in this press release has been sourced from public disclosure
by Tele Atlas and has not been verified by Garmin.

About Garmin Ltd.

Through its operating subsidiaries, Garmin Ltd. designs,
manufactures, markets and sells navigation, communication and
information devices and applications -- most of which are enabled by
GPS technology. Garmin is a leader in the consumer and general
aviation 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
http://www.Garmin.com/pressroom or contact the Media Relations
department at +1-913-397-8200. Garmin is a registered trademark of
Garmin Ltd.

Notice on Forward-Looking Statements

This announcement includes forward-looking statements. These
statements are based on the current expectations of Garmin Ltd. and
are naturally subject to uncertainty and changes in circumstances.
Forward-looking statements include, without limitation, statements
containing words such as "intends" or "intended". By their nature,
forward-looking statements involve risk and uncertainty because they
relate to events and depend on circumstances that will occur in the
future. There are a number of factors that could cause actual results
and developments to differ materially from those expressed or implied
by such forward-looking statements. Other unknown or unpredictable
factors could cause actual results to differ materially from those in
the forward-looking statements. These factors include those discussed
or identified in the filings by Garmin with the U.S. Securities and
Exchange Commission in its Annual Report on Form 10-K. Garmin does
not undertake any obligation to update publicly or revise
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent legally required.

Web site: http://www.garmin.com

ots Originaltext: Garmin Ltd.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
North American, Ted Gartner, +1-913-440-1240, or Jessica Myers,
+1-913-440-1411, both of Garmin International Inc., or
media.relations@Garmin.com; or European, Rollo Head, or James
Leviton, both of Finsbury Group, +44-20-7251-3801; Photo:
http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO, AP
Archive: http://photoarchive.ap.org, PRN Photo Desk,
photodesk@prnewswire.com