COM DEV Provides Foreign Exchange Impact Update

    CAMBRIDGE, ON, Nov. 29 /CNW/ - COM DEV International Ltd. (TSX: CDV), a
leading manufacturer of space hardware subsystems, today provided an update on
the impact of the strengthening Canadian dollar during the Company's fourth
quarter on its expected financial results for the period ended October 31,
2007. During the Company's fiscal fourth quarter, the Canadian dollar
strengthened by 13% versus the U.S. dollar. COM DEV, like most Canadian
exporters, was impacted by not just the magnitude of the shift in exchange
rates during the quarter, but also the velocity of the change. While the
Company has demonstrated its ability over time to address the strengthening
Canadian dollar, the speed of the recent change has been such that operational
improvements could not keep pace, resulting in negative impacts on the
Company's expected revenues and gross margins.
    The Company expects to report revenues of approximately CDN $166 million
in fiscal 2007, representing 8% growth over the previous year, compared to
management's guidance of 10% revenue growth. The Company's revenues and gross
profit were each negatively impacted by approximately CDN $4.3 million due to
the strengthening of the Canadian dollar during the fiscal fourth quarter.
Gross margins are expected to be approximately 17% for the fourth quarter, and
approximately 22% for the full fiscal year 2007. Expected fourth quarter
revenues of $45 million represent the largest revenue quarter in the Company's
    COM DEV plans to announce complete results for fiscal 2007 on December
13, 2007, after the close of trading. Management will host a conference call
at 5:30 pm EST that same day to discuss the results in greater detail.
Investors are invited to participate by dialing 416-644-3417 or
1-800-731-6941, or by accessing the simultaneous webcast at or A taped rebroadcast of the conference call will be accessible
until December 20th by dialing 416-640-1917 or 1-877-289-8525, and entering
reservation code 21255178.

    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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