COM DEV International… Financially Speaking…

[SatNews] The Corporation’s board of directors believes the repurchases of the common shares of COM DEV International are in the best interest of the Corporation and represent a desirable use of corporate funds.



COM DEV International Ltd. (TSX: CDV) (the “Corporation”) has announced acceptance by Toronto Stock Exchange (the “TSX”) of the Corporation’s Notice of Intention to make a Normal Course Issuer Bid (the “Notice”) through the facilities of the TSX. Pursuant to the Notice, the Corporation proposes to repurchase up to an aggregate of 6,631,947 common shares during the 12 month period (the “Bid Period”) commencing March 21, 2011 and ending March 20, 2012. The Corporation shall make available a maximum of $10,000,000 to fund the repurchase of common shares during the Bid Period. The Corporation will determine the number of common shares to be repurchased and the timing of such purchases subject to the normal course issuer bid policy of the TSX. All common shares repurchased by the Corporation during the Bid Period will be cancelled.



As of March 14, 2011, there were 76,408,626 common shares of the Corporation outstanding with a public float (which excludes common shares held by insiders or otherwise excluded by the rules of the TSX) of 66,319,478 common shares. The 6,631,947 common shares the Corporation intends to repurchase under the TSX normal course issuer bid represent 10 percent of the Corporation’s public float, the maximum number of shares permitted to be purchased under the TSX’s normal course issuer bid policy. Further, except for block purchase exceptions, pursuant to such policy the Corporation cannot acquire more than 30,082 shares on any given trading day, this number being 25 percent of the average daily trading volume of the Corporation’s shares for the six calendar months ending on February 28, 2011. The board of directors of the Corporation believes that the Corporation’s common shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation’s business and its future business prospects.