Press Release

COM DEV Receives Authority To Proceed On New Commercial Satellite Contract

By SpaceRef Editor
May 3, 2004
Filed under , ,

COM DEV International Ltd. today
announced receipt of a $1 million (US) Authorization to Proceed (ATP) for a
contract to provide core COM DEV products and subsystems to a European
customer for a commercial satellite program. The contract, when finalized, is
anticipated to be worth at least $5.1 million US (approximately $6.9 million
CDN). The name of the customer and the satellite program involved cannot be
provided at this time because of contractual restrictions.

The contract work will be carried out at COM DEV’s facility in Cambridge,
Ontario over the next 10 months.

Commenting on this award, COM DEV’s CEO, John Keating said, “COM DEV
continues to win important contracts in a recovering market, resulting in an
increasing market share and a very solid backlog. Coupled with our ongoing
efforts to manage costs carefully and execute effectively, we are improving
our profitability levels, as we had predicted. This will be reflected in our
second quarter results which are to are released on May 27th. The outlook for
the full year is also beginning to firm up, and we are optimistic that the
Company will deliver solid bottom line profit for the year.”


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

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.