FYI

Simrad Yachting AS has entered into a merger agreement with Lowrance Electronics.

Simrad Yachting will buy all of the outstanding shares of Lowrance at US$37 per share. The acquisition price represents an enterprise value for Lowrance of around US$215 million and a premium of 48 per cent over the closing price of its shares on January 27, 2006.

Under the terms of the merger, Navico Acquisition Corp, a newly formed wholly owned subsidiary of Simrad Yachting, will commence a cash tender offer for all the outstanding shares and complete a second step merger at the same price.

The tender offer will be subject to a majority minimum tender condition and other customary conditions, but will not be subject to any financing conditions.

Following the tender offer and the merger, Lowrance will become a wholly owned subsidiary of Simrad Yachting.

Mike(aka Boatnut)