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New Appointment To Navman Board

6 May 2002

Navman NZ Ltd has appointed financier Andrew Clements chairman of its board. Mr Clements is a director and investment manager of Emerald Capital as well holding directorships in a number of listed and private companies.

Mr Clements says he will be looking at long-term value creation, with focus on cash flow and the bottom line as drivers for expansion and future growth.

“I believe Navman is well on the way to creating a significant world-class technology company based in New Zealand. I am looking forward to working with the existing team led by Peter Maire, as well as bringing in new talent,” he says.

Peter Maire, Navman founder and President, says Mr Clements’ broad business experience across a number of companies in various industry sectors will bring new disciplines to the company and make a valuable contribution to Navman’s long-term sustainable growth.

Navman develops, manufactures and distributes marine, personal GPS and fleet management products, and is one of NZ's fastest growing electronics companies with revenues predicted to top $NZ100m in 2002- 2003.

Navman employs over 220 staff globally in USA, Europe, UK, Australia and its home base in New Zealand.

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