NAVTEQ Files Registration Statement for Proposed Secondary Offering of Shares

CHICAGO, March 28 -- NAVTEQ Corporation announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed $1.3 billion secondary offering of shares of its common stock. The shares are being offered by Philips Consumer Electronics B.V., a wholly-owned subsidiary of Royal Philips Electronics B.V.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., Lehman Brothers Inc. and UBS Securities LLC will act as the joint book-running managers for the offering. A preliminary prospectus for the offering, when available, may be obtained directly from:

NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices and Internet-based mapping applications. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,500 employees located in over 100 offices in 20 countries.

  NAVTEQ is a trademark in the U.S. and other countries.