NAVTEQ Files Registration Statement for Proposed Initial Public Offering

CHICAGO, April 20 -- NAVTEQ Corporation announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed $500 million initial public offering of shares of its common stock. The shares in the offering are being offered by Philips Consumer Electronics B.V. and NavPart I B.V., NAVTEQ's principal stockholders.

Credit Suisse First Boston LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated will act as the managing underwriters for the offering. A preliminary prospectus for the offering, when available, may be obtained directly from:

   Credit Suisse First Boston LLC     Merrill Lynch, Pierce, Fenner
   Prospectus Department              & Smith Incorporated
   Eleven Madison Avenue, Level 1B    4 World Financial Center
   New York, NY 10010                 New York, NY 10080
   212.325.2580                       212.449.1000

  About NAVTEQ

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 1,400 employees located in over 100 offices in 20 countries.

Safe Harbor Statement

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Caution Concerning Forward-Looking Statements

This document includes 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 our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as 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 significant uncertainties and changes in circumstances, many of which are beyond our control. The proposed IPO is subject to a number of conditions and approvals and there can be no assurance that an offering will be completed as described or within the time periods outlined above. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.