COM DEV's exactEarth And Spain's HISDESAT Join Forces To Tackle The Space-Based AIS Market

Cambridge, Canada (ots/PRNewswire) - COM DEV
International Ltd. , a leading manufacturer of space hardware
subsystems, today announced that its data services subsidiary,
exactEarth Ltd. ("the Company"), has added a strategic investor that
will play an important role in delivering and growing the Company's
exactAIS(TM) service in the marketplace. HISDESAT Servicios
Estrategicos S.A., a major Madrid-based satellite operator and
service provider that sells data to more than 25 government
customers around the world, has taken a 27% equity interest in
exactEarth with a cash investment of CDN $15 million, which
represents an implied $55.5 million valuation of the exactEarth
business. The cash investment will support exactEarth's on-going
business operations and the deployment of additional space and
ground infrastructure.

"We are excited to have access to HISDESAT's data services
expertise and global market reach," said Peter Mabson, President of
exactEarth Ltd. "These strengths are complementary with COM DEV's
strengths in satellite technology and are very well aligned with our
needs at exactEarth as we roll out AIS data services into the
international marketplace. HISDESAT's investment follows closely on
the heels of our successful service launch last month and confirms
our commitment and ability to deliver a premium quality and highly
reliable space-based AIS data service to the global market."

In addition to its investment in exactEarth, HISDESAT will play a
strategic role in supporting the Company's operations and service
delivery. HISDESAT will represent exactEarth as a reseller in a wide
range of market territories where they have an established market
presence. In addition to this, it is expected that HISDESAT will
operate a second data center in Europe on behalf of the exactEarth
business, in a move that will further improve the overall
reliability of the exactEarth global AIS system.

"We view our strategic investment in exactEarth as a long-term
commitment to support our business interests in global
surveillance," said Roberto Lopez Fernandez, Chief Executive Officer
of HISDESAT. "We have spent considerable time evaluating the
exactEarth AIS technology and the Company's business plan, and have
concluded that both are well aligned with our objectives. It was a
logical next step to participate in this opportunity directly through
an equity investment. We are pleased to be strategically aligned with
COM DEV in capitalizing on the Space-based Maritime Surveillance
opportunity this technology represents. There is a lot of potential
for exactEarth, and we believe in its future."

"The HISDESAT partnership is an ideal one for exactEarth," said
Michael Pley, Interim CEO of COM DEV. "HISDESAT offers highly
complementary expertise and customer relationships at a crucial time
for the Company, as it commences commercial operations of its
space-based AIS data services business. The extended market access
that HISDESAT brings to the Company is a significant strategic
benefit, and augments the sales and marketing reach that exactEarth
has successfully achieved on its own. Attracting such a well known
and experienced satellite operations and space data service company
as an investor speaks volumes in support of the potential of
exactEarth's business. We welcome HISDESAT as a strategic partner
and look forward to a very strong, enduring, and successful
partnership with them."

The HISDESAT transaction, which closed today, implies a
post-money valuation of approximately $55.5 million for exactEarth.
At the end of the most recent fiscal quarter the Company was valued
at approximately $16 million on COM DEV's consolidated balance
sheet. COM DEV has committed to funding $35 million of the Company's
capital and operating expenses, of which approximately $24 million
has been provided to date. COM DEV retains ownership of 73% of
exactEarth. (All amounts are stated in Canadian dollars.)

About exactEarth Ltd.

exactEarth Ltd. (http://www.exactEarth.com) is a data services
company that leverages advanced microsatellite technology and
globally deployed ground systems to deliver monitoring solutions
characterized by high performance, reliability, security, and
simplicity. exactEarth's initial service, exactAIS(TM), is a global
vessel tracking and monitoring system based on world leading
space-based advanced AIS detection technology.

About HISDESAT

HISDESAT Servicios Estrategicos, S.A. (www.hisdesat.es) is a
supplier of services based on space systems, to government clients
in Spain and other allied, and friendly countries. The company is
specialized in the acquisition, operation and commercialization of
systems orientated to space, with the purpose of providing strategic
and communication services, for both civil and military
applications. HISDESAT was established as the first commercial
supplier in the world to provide satellite communication services in
X and Ka Band for government applications exclusively.

About COM DEV

COM DEV International Ltd. (www.comdevintl.com) is a leading
global designer and manufacturer of space hardware subsystems. With
facilities in Canada, the United Kingdom and the United States, COM
DEV manufactures advanced products and subsystems that are sold to
major satellite prime contractors for use in communications, space
science, remote sensing and military satellites.

This news release may contain certain forward-looking statements
that involve risks and uncertainties. Actual results may differ
materially from results indicated in any forward-looking statements.
COM DEV cautions that, among other things, in view of the rapid
changes in communications markets and technologies, and other risks
including the cost and market acceptance of COM DEV's new products,
the level of individual customer procurements and competitive
product offerings and pricing, and general economic circumstances,
COM DEV's business prospects may be materially different from
forward-looking statements made by COM DEV.

The triangular logo and the word COM DEV are each registered
trademarks and the property of COM DEV Ltd. The exactEarth logos and
the words exactEarth and exactAIS are trademarks and the property of
exactEarth Ltd. All rights reserved.

For further information: Gary Calhoun, Chief Financial Officer,
Tel: +1-519-622-2300 ext. 2826, gary.calhoun@comdev.ca; Jeff
Codispodi, The Equicom Group, Tel: +1-416-815-0700 ext. 261,
jcodispodi@equicomgroup.com; Peter Mabson, President, exactEarth
Ltd., Tel: +1-519-622-2300 ext. 4800, peter.mabson@exactEarth.com

ots Originaltext: Com Dev International Ltd. and exactEarth Ltd.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
CONTACT: For further information: Gary Calhoun, Chief Financial
Officer,Tel: +1-519-622-2300 ext. 2826, gary.calhoun@comdev.ca; Jeff
Codispodi,The Equicom Group, Tel: +1-416-815-0700 ext.
261,jcodispodi@equicomgroup.com; Peter Mabson, President, exactEarth
Ltd., Tel:+1-519-622-2300 ext. 4800, peter.mabson@exactEarth.com