Sandvine Corporation announces $45 million offering of common shares on bought deal basis



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN
    THE UNITED STATES/

    WATERLOO, ON, June 21 /CNW/ - Sandvine Corporation (TSX:SVC; AIM: SAND)
announced today that it has reached an agreement with a syndicate of
underwriters led jointly by Canaccord Capital Corporation and CIBC World
Markets, to issue to the public on a bought deal basis, subject to regulatory
approval, 8,911,000 common shares in capital of Sandvine Corporation (the
"Common Shares") for $5.05 per Common Share for gross proceeds of
approximately $45 million. The net proceeds of the offering payable to
Sandvine will be used for general corporate purposes and for potential future
acquisitions.
    Sandvine has also granted to the underwriters the option to purchase up
to an additional 1,336,650 Common Shares at a price of $5.05 per Common Share
for a period of thirty (30) days following the closing.
    Sandvine will, within the next few days, file with the securities
commissions and other similar regulatory authorities in each of the provinces
of Canada (other than Québec), a preliminary short form prospectus relating to
the issuance of the Common Shares. Closing of the offering is expected to take
place on or about July 12, 2007.
    This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction. The
Common Shares being offered have not been and will not be registered under the
U.S. Securities Act of 1933 and state securities laws. Accordingly, the Common
Shares may not be offered or sold in the United States except pursuant to
applicable exemptions from registration.

    ABOUT SANDVINE

    Sandvine's award-winning network equipment helps DSL, cable, and wireless
broadband service providers characterize what is really happening on their
networks, enabling polices that improve customer satisfaction, reduce
operational costs and increase profitability. Sandvine's DPI-based policy
solutions are both application and subscriber-aware, empowering service
providers to better manage network traffic congestion, mitigate the
proliferation of malicious traffic, and deliver QoS-prioritized multimedia
services. With over 80 customers in more than 30 countries, Sandvine is
enhancing the Internet experience for millions of broadband users worldwide.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

    Certain statements contained in this news release constitute
forward-looking information within the meaning of securities laws.
    Forward-looking information may relate to our future outlook and
anticipated events or results and, in some cases, can be identified by
terminology such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential", "continue" or other
similar expressions concerning matters that are not historical facts.
    These statements are based on certain factors and assumptions including
expected growth, results of operations, performance and business prospects and
opportunities. While we consider these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
    Forward looking-information is also subject certain factors, including
risks and uncertainties, that could cause actual results to differ materially
from what we currently expect. These factors include changes in market and
competition, governmental or regulatory developments and general economic
conditions.





For further information:

For further information: INVESTOR RELATIONS CONTACT: Rick Wadsworth,
Sandvine, (519) 880-2400 ext. 3503, rwadsworth@sandvine.com; AIM NOMAD: Chris
Bowman, Andrew Chubb, Canaccord Adams Limited, +44 207 518 2791, +44 207 518
7360


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