COM DEV Establishes Special Committee

    CAMBRIDGE, ON, Nov. 29 /CNW/ - COM DEV International Ltd. (TSX: CDV)
announced today that it has established a special committee comprised of two
independent directors to commence a review of historical stock option granting
practices. The Special Committee is being assisted by independent legal
counsel and independent accounting consultants. The Company along with counsel
for the Special Committee and independent legal counsel have met with staff of
the Ontario Securities Commission to advise them of the review process to be
undertaken by the Special Committee. The Company is not aware of any
investigation by the OSC at this time. The Special Committee will make
recommendations to the Board of Directors of COM DEV with respect to reviewing
and revising its stock option granting procedures and corporate governance
policies as may be required following completion of the review.
    Until the review has been completed, the Company cannot determine if
there will be any material adjustment to its historical financial statements.
Since November 1, 2003, the Company has recognized the cost for all stock
options granted to employees and directors under its stock option plan as a
compensation expense.

    About COM DEV

    COM DEV International Ltd. ( is a leading global
designer and manufacturer of space hardware subsystems. With facilities in
Canada, the United Kingdom and the United States, COM DEV manufactures
advanced products and subsystems that are sold to major satellite prime
contractors for use in communications, space science, remote sensing and
military satellites.

    COM DEV and COM DEV USA are registered trademarks of COM DEV
International Ltd. This news release may contain certain forward-looking
statements that involve risks and uncertainties. Actual results may differ
materially from results indicated in any forward-looking statements. The
Company cautions that, among other things, in view of the rapid changes in
communications markets and technologies, and other risks including the cost
and market acceptance of the Company's new products, the level of individual
customer procurements and competitive product offerings and pricing, and
general economic circumstances, the Company's business prospects may be
materially different from forward-looking statements made by the Company.

    %SEDAR: 00003673E

For further information:

For further information: Gary Calhoun, Chief Financial Officer, Tel:
(519) 622-2300, ext. 2826, Fax: (519) 622-2158,; Jeff
Codispodi, The Equicom Group, Tel: (416) 815-0700, ext. 261, Fax: (416)

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