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u-blox Holding AG launches IPO on the SWX Swiss Exchange

Thalwil, Switzerland -- October 16, 2007 -- u-blox Holding AG publishes today the details of its planned initial public offering (IPO) on the SWX Swiss Exchange. The price range for the registered shares being offered will be between CHF 42 and CHF 54 per share. Bookbuilding will start today and is expected to end on October 25, 2007, 12.00 noon (CET). The first trading day on the main segment of the SWX Swiss Exchange is planned for October 26, 2007.

u-blox, a leading Swiss technology provider in the rapidly growing global GPS market, has announced further details about its planned IPO and listing on the SWX Swiss Exchange. Up to 2,657,981 registered shares, with nominal value of CHF 0.90 each, are to be offered between CHF 42 and CHF 54 per share. Of the offered shares, 1,250,000 shares will be newly issued shares, and up to 1,407,981 shares will be sold by existing (pre-IPO) shareholders. In addition, the existing shareholders have granted the managers of the offering an over-allotment option of up to 15% of the base offering size. The free float will amount to approximately 42.6% excluding the exercise of the over-allotment option or approximately 49.0% if the over-allotment option is exercised in full. Based on the price range mentioned, the market capitalisation of u-blox will be between CHF 262.2 million and CHF 337.1 million. u-blox intends to use the net proceeds from the newly issued shares for the implementation of its growth strategy and the further expansion of its market position.

The IPO will consist of a public offering in Switzerland and private placements to institutional investors in certain other jurisdictions. Pre-IPO shareholders will continue to be shareholders in the company. The principal selling shareholders have committed themselves to a lock-up period of 180 days. The company has agreed to a lock-up period of 180 days and members of the management and board of directors have agreed to a lock-up period of 365 days.

Thomas Seiler, Chief Executive Officer of u-blox, commented: "As a leading global technology provider in the GPS market, u-blox is in an excellent position to take advantage of the exceedingly strong market growth for GPS chipsets and GPS modules that is expected in the coming years. The IPO will enable us to pursue our growth strategy and at the same time, it will allow a larger circle of investors to participate in u-blox’ success story."

Credit Suisse is acting as Global Coordinator and Sole Bookrunner. Members of the bank syndicate include Zürcher Kantonalbank as Co-Lead Manager and Helvea SA as Selling Agent.

A press conference for journalists and newswires will be held (in German) today, Tuesday, October 16, 2007.

10:00 a.m.
PRESS CONFERENCE
ConventionPoint
SWX Swiss Exchange
Selnaustrasse 30
CH – 8021 Zürich

Speakers:

Thomas Seiler
Chief Executive Officer

Jean-Pierre Wyss
Co-founder and Chief Financial Officer

The IPO details at a glance

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.

United Kingdom

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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.