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Technology Stocks : Garmin GRMN -- Ignore unavailable to you. Want to Upgrade?

To: Pink Minion who wrote (3)	2/21/2003 1:33:30 PM
From: Pink Minion	Read Replies (1) \| Respond to of 99

This is going to 50-70: biz.yahoo.com Garmin Shareholders Announce Execution of Rule 10b5-1 Selling Programs Wednesday February 12, 7:05 am ET CAYMAN ISLANDS, Feb. 12 /PRNewswire-FirstCall/ -- Garmin Ltd. (Nasdaq: GRMN - News) today announced that the Gary L. Burrell 2000 Grantor Retained Annuity Trust and the Judith M. Burrell 2000 Grantor Retained Annuity Trust, have established a structured, prearranged trading plan to sell a portion of their shares in the company over a designated period in accordance with Rule 10b5-1 of the Securities and Exchange Commission. ADVERTISEMENT Jonathan C. Burrell, as trustee, has executed a Rule 10b5-1 selling program for the Gary L. Burrell 2000 Grantor Retained Annuity Trust ("Gary Burrell GRAT") and for the Judith M. Burrell 2000 Grantor Retained Annuity Trust ("Judith Burrell GRAT"). Under the plan, Jonathan Burrell has proposed to sell a total of up to 1.5 million shares of Garmin Ltd. over a 34-week period between March 3, 2003 and Oct. 27, 2003. To the extent practicable, an equal number of shares shall be sold from the Gary Burrell GRAT and the Judith Burrell GRAT. As of Feb. 10, 2003, the Gary Burrell GRAT owned 2,028,907 shares and the Judith Burrell GRAT owned 2,028,907 shares. Gary L. Burrell beneficially owns 16,757,522 shares and Judith M. Burrell beneficially owns 431,782 shares. No shares owned by Mr. or Mrs. Burrell will be sold pursuant to the trusts' selling program. Neither Mr. Burrell, the company's co- chairman, nor Dr. Min H. Kao, the company's co-chairman and CEO, has sold any shares of Garmin Ltd. since the company's IPO in December 2000. The company's board of directors approved this Rule 10b5-1 selling program. "We believe that the previous Rule 10b5-1 program executed by these trusts has proved beneficial to Garmin and its shareholders by increasing the public float and trading volume in our stock," said Andrew Etkind, general counsel and secretary of Garmin Ltd. "We anticipate that the trusts' new Rule 10b5-1 program will further improve the liquidity of our stock. Min Kao and Gary Burrell, Garmin's two insider directors, together with their spouses, children and trusts established by them, currently own approximately 45.6 million shares of Garmin or approximately 42.2 percent of the company's outstanding shares. The dispositions under the above selling program will constitute approximately 1.4 percent of the outstanding shares." Rule 10b5-1 allows corporate insiders to establish a prearranged written plan to buy or sell a specified number of company shares at a time when they are not in possession of material inside information in order to gradually change their investment portfolio, to minimize the market effect of share sales or purchases by spreading them out over an extended period of time, and to avoid concerns about initiating transactions while in possession of material nonpublic information. Through its operating subsidiaries, Garmin Ltd. designs, manufactures, and markets navigation, communications and information devices, most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer markets and its products serve aviation, marine, general recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and United Kingdom. For more information, visit the investor Relations site of Garmin Ltd. at www.garmin.com or contact the Investor Relations department at 913-397-8200 Notice on forward-looking statements LMAO