Press Release

COM DEV Awarded $20 Million Commercial Satellite Contract

By SpaceRef Editor
August 27, 2003
Filed under , ,

COM DEV International Ltd. today
announced it has commenced work on a major contract to provide standard COM
DEV products and subsystems to a large commercial satellite program. When
negotiations are concluded the Company anticipates that the final contract
value will exceed $20 million CDN. The name of the customer and the satellite
program involved cannot be provided at this time because of contractual
requirements to get written permission from the customer and the customer’s
customer. If and when the customer grants permission, full details will be
announced.

The contract work will be carried out at COM DEV’s facility in Cambridge,
Ontario over the next 12 months.

Commenting on this award, COM DEV’s CEO, John Keating said, “This
contract is particularly gratifying at this time. It makes a significant
addition to our growing order book and substantiates the strategy we have put
in place to return COM DEV’s operations to good health despite still difficult
market conditions. It further positions us for what I now expect will be
exceptional growth when global space markets also return to strength as
predicted by analysts for 2004.”

About COM DEV

COM DEV International Ltd. (www.comdev.ca) based in Cambridge, Ontario,
is the largest Canadian-based designer and manufacturer of space hardware
subsystems.

COM DEV, with facilities in Canada and the United Kingdom, manufactures
advanced products and subsystems that are sold to major satellite prime
contractors for use in communications, space science, remote sensing and
military satellites.

COM DEV and COM DEV Space are registered trademarks of COM DEV
International Ltd. 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. The
company 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 the company’s new products, the level of individual
customer procurements and competitive product offerings and pricing, and
general economic circumstances, the company’s business prospects may be
materially different from forward-looking statements made by the company.

SpaceRef staff editor.