Shah Capital Partners Completes Acquisition Of Thales Navigation; Now Magellan

San Dimas, Calif. (August 31, 2006) An investment group led by Shah Capital Partners (SCP) today announced they have completed the acquisition of Thales Navigation, a division of Thales. The new company will be known as Magellan, and is a leader in the consumer, survey, GIS and OEM GPS navigation and positioning markets.

Recognized as an industry innovator, Magellan is the creator of the award-winning Magellan® RoadMate™ series portable car navigation systems, the Magellan eXplorist™ outdoor handheld navigation devices, the Hertz NeverLost® car navigation system and ProMark™, the best-selling single frequency GPS survey product line on the market. The Magellan brand is recognized worldwide and the company has experienced 200 percent consumer revenue growth over the past three years as GPS technology has proliferated across a range of consumer and commercial applications.

Co-investors who participated with SCP in the transaction included Tudor Group, Galleon Group, Consolidated Press Holdings, AIG SunAmerica, and Eli Broad.

The purchase price was $170 million, plus considerations. Further terms of the deal were not disclosed.