MIDDLETOWN, RI - April 20, 2005 - KVH Industries, Inc., (Nasdaq: KVHI) and its innovative TracVision® A5 automotive satellite TV system were honored during the 11th annual PACE (Premier Automotive Suppliers' Contribution to Excellence) Award ceremonies held on April 11, 2005, at the Max M. Fisher Music Center in Detroit, MI. KVH, one of 22 finalists from among hundreds of entrants from around the globe, was lauded for the TracVision A5, the first and only mobile satellite TV antenna currently available for automobiles and the only authorized source of DIRECTV® programming in cars. The Automotive News PACE Awards, which recognize superior innovation, technological advancement, and business performance, are presented annually by Automotive News, Capgemini, and the Transportation Research Center, Inc.
“We are extremely honored to receive this prestigious recognition of our efforts to change the face of passenger entertainment using our TracVision technology,” remarked Martin Kits van Heyningen, KVH's president and chief executive officer, after accepting the award on behalf of the company. “We set out to create the first commercially viable, low-profile satellite TV antenna for cars because we believed that mobile video in automobiles had the potential to dwarf any other mobile market we served. That belief seems to be proving correct as millions of vehicles now include mobile video systems and industry analysts project that more than 3 million cars will be equipped with mobile satellite TV by 2011. I am extremely proud that KVH is leading the way in the aftermarket and with automakers thanks to our TracVision A5 system and 135+ channels of DIRECTV programming.”
The TracVision A5 opened the automotive market to mobile satellite TV service, allowing travelers to enjoy DIRECTV programming on open roads across the United States. Shipping since September 2003, the TracVision A5 enables passengers to enjoy crystal-clear, digital-quality live DIRECTV programming while on the move rather than be limited to pre-recorded video content or static-plagued reception of location broadcast TV.
In addition to being named a finalist for the Automotive News PACE Award, KVH and the TracVision A5 have received a wide range of awards and recognition throughout the past year. These include the 2004 General Motors “Most Innovative Product” award and the 2005 Frost & Sullivan Market Leadership Award, recognizing KVH's pioneering efforts to develop and support the automotive satellite TV marketplace, and being named a 2004 Consumer Electronics Association “Design & Innovation Honoree.”
Additional information regarding the TracVision A5 and KVH's complete line of mobile satellite TV systems can be found at http://www.tracvision.com.
Additional photos of the TracVision A5 and other satellite products are available on the company's press support web site, http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: failure to gain the acceptance of or orders from automotive manufacturers for the TracVision A5; or widespread consumer demand for satellite TV service in cars fails to develop; as well as those other factors discussed in KVH's Annual Report on Form 10-K filed on March 16, 2005, with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.