NAVTEQ Announces Pricing of Initial Public Offering of Common Stock

CHICAGO, Aug. 6, 2004 -- NAVTEQ Corporation , a leading global provider of digital maps for vehicle navigation and location-based solutions, today announced the initial public offering of 40,000,000 shares of NAVTEQ common stock at a price of $22.00 per share. NAVTEQ's common stock will be listed on the New York Stock Exchange under the symbol "NVT".

All of the shares included in this offering are being sold by Philips Consumer Electronic Services B.V. and NavPart I B.V., NAVTEQ's principal stockholders. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of common stock to cover over-allotments, if any. Because all of the shares included in this offering are being sold by existing NAVTEQ stockholders, they will receive all of the net proceeds from the sale of the shares.

Credit Suisse First Boston and Merrill Lynch & Co. served as joint lead managers and joint book-runners for the offering, and Deutsche Bank Securities, UBS Investment Bank, Dresdner Kleinwort Wasserstein and Piper Jaffray served as co-managers.

The common stock offering may be made only by means of prospectus, copies of which may be obtained by contacting:

   Credit Suisse First Boston LLC Prospectus Department
   Eleven Madison Avenue, Level 1B
   New York, NY 10010
   212.325.2580

   Merrill Lynch & Co.
   4 World Financial Center
   New York, NY 10080
   212.449.1000

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 5, 2004. 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.

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

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 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. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.