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Gold/Mining/Energy : Com Dev International -- Ignore unavailable to you. Want to Upgrade?

To: jim who wrote (92)	2/2/2000 9:19:00 AM
From: Dan Hamilton	Read Replies (1) \| Respond to of 216

Here's the release... COM DEV secures new space industry contracts in excess of $14 million CAMBRIDGE, ON, Feb. 1 /CNW/ - COM DEV International Ltd. (TSE:CDV) today announced that its Space Group has secured contract awards in excess of $14 million in recent weeks. This business is in addition to a general announcement made by the company on November 15, 1999. Further details will be provided when our major corporate customers provide approvals for the press releases. "These agreements reflect a strong demand for our Space Group core products and these will continue to support our objective to deliver profitable growth," said Keith Ainsworth, President and Chief Executive Officer. The Space Group continues to build on its business of supplying equipment to the geostationary satellite market, where customers have a solid track record of profits and cash flow. This business provides the opportunity for moderate growth and the basis for solid, profitable business. This new business is entirely comprised of COM DEV Space Group core products: filters, multiplexers and microwave switches. Canadian-based COM DEV International Ltd. is the largest Canadian-owned designer, manufacturer and distributor of space and ground-based wireless products and subsystems through its two divisions: the Space Group and the Wireless Group. COM DEV employs more than 1,100 people in facilities in Ontario, New Brunswick, the United States, the United Kingdom and China. The Space Group manufactures advanced products that are sold to the major satellite prime contractors for use in earth science and commercial communications satellites. The Wireless Group manufactures ground-based infrastructure subsystems used in microwave and radio frequency systems, such as GSM and CDMA-based digital telephone systems, and wireless local loop networks. These products are sold primarily to major PCS wireless equipment vendors. 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 the wireless 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. %SEDAR: 00003673E -0- 02/01/2000 For further information: Investor and Media Contact: Anita Davis, Vice President, Corporate Development, Tel: (519) 622-5004, Fax: (519) 622-1691, E-mail: investor.relations@comdev.ca, Website: www.comdev.ca; Analyst Contact: David Belbeck, Chief Financial Officer, Tel: (519) 622-2300 ext. 2288, Fax: (519) 622-2158, E-mail: david.belbeck@comdev.ca; To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports@cnw.