New Map Available Through NAVTEQ’s Acquisition of Picture Map International (PMI) Chicago, IL – December 27, 2005– NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, is offering a map with navigable coverage throughout South Korea through its wholly owned subsidiary, PMI.
This offering is another notable achievement in NAVTEQ’s initiative to grow its map portfolio and to support its customers’ efforts to service the rapidly growing Asian market.
The South Korea map covers 100% of the population (approximately 48 million people) of South Korea, and is a fully navigable roadway map enabling door-to-door route calculations and turn-by-turn route guidance throughout the country. Detailed road network information, such as one-way streets and turn restrictions, is linked to the map, which provides NAVTEQ customers with additional information to create the most efficient routes for their solutions. The map also includes more than 400,000 Points of Interest in more than 290 categories and subcategories, cartographic features (such as parks, waterways and woodlands) and more than 7 million listings from the Korea Telecom business directory. In July 2005, NAVTEQ acquired Picture Map International (PMI) to establish its presence in and to offer a digital map of South Korea. NAVTEQ continues to focus on expanding its global map coverage, and offering coverage in South Korea is an important part of this initiative. South Korea boasts a rapidly growing automotive sector and one of the most advanced wireless markets in the world. Consumer adoption of location-based services exceeds that for Europe and North America, creating high demand for quality digital map data to serve as a foundation for these services.
“South Korea is a thriving and influential economy, and our customer base is agressively advancing their product and business development efforts to service this market,” commented John MacLeod, Executive Vice President – Global Marketing & Strategy for NAVTEQ. “We understand how important an accurate map is to helping our customers maintain their brand equity and build brand recognition as they emerge in new markets, which is why we worked to offer a map of South Korea that meets NAVTEQ’s quality standards.”
Currently, the South Korea map is available in a variety of application Physical Storage Formats (PSF) as well as open interchange formats, such as ArcInfo Shape File format. Names and other text strings in the NAVTEQ map of South Korea are represented using a Unicode (multi-byte) character set.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
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