Garmin Reports Record Fourth Quarter and Fiscal Year,
Provides 2005 Guidance, Announces 2005 Annual Meeting

CAYMAN ISLANDS, February 9, 2005/PRNewswire/ — Garmin Ltd. (Nasdaq: GRMN — news) today announced a record fourth quarter and fiscal year ended December 25, 2004. Revenue and net income both exceeded the guidance previously given by the company. The company’s consumer segment experienced 27 percent revenue growth during the fourth quarter and 31 percent during 2004. The aviation segment also contributed revenue growth of 42 percent for the quarter and for the full year, which led to overall revenue growth of 33 percent for the year.

“2004 was another good year for Garmin. We introduced a record number (fifty) of new products in 2004. These products, which include many recreational and automotive units with beautiful TFT color displays, and a marine network system, which integrated our chart plotters, sounders, XM satellite weather receivers and radar, have all been very well received by the market,” said Dr. Min Kao, CEO of Garmin Ltd. “Consumer awareness and interest in the utility of GPS navigation continue to grow, and we experienced strong demand across all product lines,” continued Dr. Kao. Over 2.3 million Garmin products were shipped in 2004, raising the company’s total to over ten million shipped to date, which is an important benchmark of the strength of the Garmin brand. The company also completed certification of its G1000 integrated cockpit for a total of six aircraft models (the Cessna 182 and 206, Diamond DA40 and DA42, and Mooney Ovation2 and Bravo) and started shipping this acclaimed integrated avionics system during the year.

“I am pleased to report that, with much hard work and additional investment in people and equipment, we have overcome most of the component shortage and product delivery challenges that were experienced during 2004. We were able to meet most of the product demands in the fourth quarter and, have additionally replenished our inventory to meet the anticipated demands for the coming marine and spring seasons,” said Dr. Kao.