NAVTEQ Reports Record Revenue for the Third Quarter of 2005

CHICAGO, Oct. 19, 2005 -- NAVTEQ Corporation , a leading global provider of digital map data for vehicle navigation and location-based solutions, today reported record revenue for the quarter ended September 25, 2005.

Revenue in the quarter rose 26% over the third quarter of 2004 to $123.0 million. Operating income grew 38% over the year-ago period to $30.4 million. Net income in the quarter rose to $101.1 million, compared to $13.6 million in the prior year's third quarter. Diluted earnings per share for the quarter grew to $1.07, compared to $0.15 in the prior year's third quarter.

Net income and diluted earnings per share for the third quarter increased significantly when compared to the same quarter in 2004 due in part to the recording of a net income tax benefit of $80.6 million, or $0.85 per diluted share, primarily related to the reversal of the valuation allowance on deferred tax assets associated with net operating loss and deferred interest carryforwards.

For the first nine months of 2005, revenue was $350.5 million, which represented growth of 28% over the same period in 2004. Year-to-date operating income grew 47% to $92.7 million. Net income for the first nine months of 2005 rose to $143.2 million, compared to $38.6 million for the same period in 2004. Year-to-date diluted earnings per share increased to $1.52, compared to $0.42 for the first nine months of 2004. The increases in year- to-date net income and diluted earnings per share were also affected by the reversal of the valuation allowance in the third quarter.

"We are pleased with the progress we achieved in the third quarter and we are encouraged by the trends we see in the marketplace this year," said Judson Green, President and Chief Executive Officer of NAVTEQ. "Consumer interest in GPS technology is surging in 2005 and we are proud to be enabling so many of the products and services being created by our customers."

Revenue from NAVTEQ's European operations totaled $77.2 million in the quarter, up 13% from $68.3 million in the third quarter of 2004. North American revenue was $42.7 million in the quarter, a 45% increase over the $29.5 million posted in the third quarter of 2004.

Cash and marketable securities totaled $159.0 million at September 25, 2005. Net cash provided by operating activities for the first nine months of 2005 was $77.5 million.

Earnings Call Information

The information for the company's earnings release conference call is as follows:

  When:   Wednesday, October 19, 2005 at 5:00 PM ET
  Where:  http://investor.navteq.com/
   How:    Log on to the web at the URL above or call to listen in at 800-
   329-9097 (North America) or 617-614-4929 (international), passcode
   41754549
   Contact:   investorrelations@navteq.com

The company will provide a telephone replay of the conference call at 888- 286-8010 (North America) or 617-801-6888 (international), passcode 65716000. The telephone replay will be accessible from 7:00 PM ET Wednesday, October 19, 2005 through 11:59 PM ET on Wednesday, October 26, 2005. An on-demand replay of the conference call will also be available online at http://investor.navteq.com/ until November 19, 2006.

This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended June 26, 2005, as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.

About NAVTEQ

NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. 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 1,800 employees located in 127 offices in 21 countries.

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

                            NAVTEQ CORPORATION
               Condensed Consolidated Statements of Income
                  (In thousands, except per share data)
                               (Unaudited)

                                        Quarter Ended     Nine Months Ended
                                     Sept. 26, Sept. 25, Sept. 26, Sept. 25,
                                        2004      2005     2004      2005

  Net revenue                          $97,793  123,005  273,858  350,534

  Operating costs and expenses:
    Database creation and distribution
     costs                              48,166   57,377  133,140  159,380
    Selling, general, and administrative
     expenses                           27,528   35,205   77,840   98,458

      Total operating costs and
       expenses                         75,694   92,582  210,980  257,838

      Operating income                  22,099   30,423   62,878   92,696

      Other income (expense)              (169)   1,202     (558)   2,640

      Income before income taxes        21,930   31,625   62,320   95,336

  Income tax expense (benefit)           8,334  (69,490)  23,682  (47,828)

      Net income                       $13,596  101,115   38,638  143,164

  Earnings per share of common stock -
    Basic                                $0.16     1.11     0.45     1.60
    Diluted                              $0.15     1.07     0.42     1.52

  Weighted average shares of common
   stock outstanding -
    Basic                               87,669   90,701   86,114   89,700
    Diluted                             92,230   94,521   91,757   93,959

                            NAVTEQ CORPORATION
                  Condensed Consolidated Balance Sheets
                              (In thousands)

                                                 Dec. 31,         Sept. 25,
                                                   2004             2005
                                                                (Unaudited)
                                   Assets
  Current assets:
    Cash and cash equivalents                     $30,101           39,956
    Short-term marketable securities               45,650           60,935
    Accounts receivable, net                       56,582           86,325
    Deferred income taxes                          50,696           55,244
    Prepaid expenses and other current assets       8,348           15,196

              Total current assets                191,377          257,656

  Property and equipment, net                      18,220           17,925
  Capitalized software development costs, net      26,243           25,700
  Long-term deferred income taxes, net             92,069          167,949
  Long-term marketable securities                  27,280           58,119
  Acquired intangible assets, net                      -            17,298
  Goodwill                                             -            12,440
  Deposits and other assets                         9,519           13,040

              Total assets                       $364,708          570,127

                    Liabilities and Stockholders' Equity

  Current liabilities:
    Accounts payable                              $13,962           13,396
    Accrued payroll and related liabilities        28,054           27,985
    Other accrued expenses                         20,609           26,518
    Deferred revenue                               31,165           39,800

              Total current liabilities            93,790          107,699

  Fair value of foreign currency derivative        21,616            7,047
  Long-term deferred revenue                       13,342            3,785
  Other long-term liabilities                       3,142            4,199

              Total liabilities                   131,890          122,730

  Stockholders' equity                            232,818          447,397

              Total liabilities and
               stockholders' equity              $364,708          570,127

                            NAVTEQ CORPORATION
             Condensed Consolidated Statements of Cash Flows
                        (Unaudited, in thousands)

                                                     Nine Months Ended
                                                 Sept. 26,         Sept. 25,
                                                   2004               2005

  Cash flows from operating activities:
    Net income                                    $38,638           143,164
    Adjustments to reconcile net income
     to net cash provided by operating activities:
        Depreciation and amortization              11,098            15,769
        Deferred income taxes                      19,557           (88,768)
        Stock compensation expense                  4,521             6,887
        Tax benefit on non-qualified
         stock options                                569            37,611
        Noncash other                               1,080             3,437
        Changes in operating assets and
         liabilities, net of effects of
         acquisitions                              (3,857)          (40,620)

            Net cash provided by
             operating activities                  71,606            77,480

  Cash flows from investing activities:
    Acquisition of property and equipment          (9,268)           (5,086)
    Capitalized software development costs         (9,101)           (8,948)
    Net purchases of marketable securities        (46,973)          (47,120)
    Payments for acquisitions, net of
     cash acquired                                     -             (8,234)
    Purchase of investments                            -             (1,201)
    Cash on deposit with affiliate, net            65,143                -

            Net cash used in investing
             activities                              (199)          (70,589)

  Cash flows from financing activities:
    Issuance of common stock and other
     equity transactions                              806             5,147
    Dividends paid                                (47,159)               -

            Net cash provided by (used
             in) financing activities             (46,353)            5,147

  Effect of exchange rate changes on cash              (2)           (2,183)

            Net increase in cash and
             cash equivalents                      25,052             9,855

  Cash and cash equivalents at beginning
   of period                                        1,982            30,101

  Cash and cash equivalents at end of period      $27,034            39,956