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u-blox Holding AG intends to go public

Thalwil, Switzerland -- October 4, 2007 -- u-blox Holding AG, a leading Swiss technology provider in the rapidly developing global GPS market, plans an initial public offering (IPO) on the SWX Swiss Exchange. The IPO will include an offering of newly issued registered shares as well as existing shares. u-blox intends to use the proceeds from the newly issued shares to implement its growth strategy, in particular the expansion of its market position.

u-blox was founded in 1997 by a former research team from the world-leading Swiss Federal Institute of Technology (ETH). It rapidly established itself as a leading innovator in the field of GPS technology, developing a range of market-leading GPS receiver technology products. u-blox has an almost unique position by developing and supplying both GPS modules and chipsets for products that are based on Global Navigation Satellite Systems (GNSS), including GPS and GALILEO.

The u-blox products are used in a wide range of commercial applications such as fleet management, car navigation and road-tolling systems as well as in portable and mobile consumer devices such as mobile phones, personal navigation devices, personal digital assistants, and GPS-based peripheral devices. u-blox markets and sells its products worldwide to OEM (original equipment manufacturers) and ODM (original design manufacturers) partners.

u-blox' revenues mainly stem from the sale of GPS chipsets, GPS modules and from royalties for chipsets that are manufactured and sold by third parties. In fiscal year 2006, u-blox generated sales of CHF 54.4 million and a net profit of CHF 7.4 million. For the six months ended June 30, 2007 the company recorded sales of CHF 39.4 million, representing a growth rate of 69% compared to the same period last year.

"The planned IPO is an important step for us to leverage on our global position in GPS modules and GPS chipsets, at a time when these attractive markets are at an inflection point of showing exceedingly high growth rates in the years ahead", comments Thomas Seiler, CEO of u-blox.

"We are very proud that we have developed our company into a major market player in our industry. The planned IPO will support our growth strategy and strengthen our position with existing and potential customers", added Jean-Pierre Wyss, co-founder and CFO of u-blox.

u-blox has appointed Credit Suisse as Sole Global Coordinator and Bookrunner, Zürcher Kantonalbank as Co-Manager and Helvea SA as Selling Agent for the upcoming IPO.

The company plans to give further information about the IPO later this month.

Contact details

Thomas Seiler, Chief Executive Officer
phone: +41 (44) 722 74 44

Jean Pierre Wyss, Chief Financial Officer
phone: +41 (44) 722 74 44

About u-blox Holding AG

u-blox develops leading positioning technology, products and services based on Global Navigation Satellite Systems (GNSS), including GPS and GALILEO, for the automotive and mobile terminal communications markets as well as for high precision infrastructure applications.

u-blox was founded in 1997 by a former research team from the Swiss Federal Institute of Technology (ETH). Since its incorporation, u-blox has evolved from a small engineering company to a global provider of integrated positioning solutions. The company’s main operations are based in Thalwil in the Canton of Zurich in Switzerland, where its research and development, European sales and administrative functions are located. Furthermore, u-blox has subsidiaries dedicated to sales and customer services in the USA, Singapore and Hong Kong and additional representative offices in China, Taiwan, Korea and Japan.

In fiscal year 2006, u-blox generated sales of CHF 54.4 million and a net profit of CHF 7.4 million. For the six months ended June 30, 2007 the company recorded sales of CHF 39.4 million, representing a growth rate of 69% compared to the same period last year. As of June 30, 2007 u-blox had 69 employees, of which 48 are located in Switzerland.

Not for distribution in the United States, Australia, Canada or Japan.

This document does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in the United States or in any other jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make an offer or solicitation. The securities of u-blox Holding AG have not been and will not be registered under the United States securities laws and may not be offered or sold in the United States [or to or for the account or the benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended)] absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither u-blox Holding AG nor its shareholders intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States.

Switzerland

This document constitutes neither an offer to sell nor a solicitation to buy any securities and it does not constitute a prospectus pursuant to art. 652a and/or 1156 of the Swiss Code of Obligations or art. 32 et seq. of the SWX Swiss Exchange Listing Rules. A decision to invest in shares of u-blox Holding AG should be based exclusively on the issue and listing prospectus published by the company for such purpose.

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Forward-looking statements

This document contains specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not rely on forward-looking statements. The company assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.