Navtech, Inc. Reports Fiscal 2004 First Quarter Results with 16% Revenue Growth

Waterloo, Ontario, Canada, March 10, 2004:

Navtech, Inc. (OTCBB: NAVH), a leading international provider of aviation services and software solutions, announced its results for its first quarter ended January 31, 2004.

Financial Highlights

Total revenue increased by 16% to $1.9 million in the first quarter of 2004 from $1.6 million in first quarter of 2003.  Subscription-based recurring revenues accounted for 92% of total revenues and increased 20% to $1.7 million in the first quarter of 2004.  

 "We are very pleased with the continuing positive momentum in our revenue and customer base, in particular the significant proportion of revenue growth driven by recurring revenues," said David Strucke, Navtech's President and Chief Executive Officer.  "Through careful management of our expenses we have been able to maintain profitability while continuing to invest in strategic product development activities and the expansion of our geographic markets, despite the negative impact of the weakened US Dollar."

Net earnings for the three months ended January 31, 2004 were $46,000, compared to $88,000 iin the first quarter of 2003. Operating expenses increased 21% from 2003 as a result of continued expansion in sales efforts to develop new geographic markets and increased research and development activities over the past 12 months. 

During the quarter, Navtech generated a positive inflow of cash from operations of $46,000, compared to a net outflow of $56,000 in the first quarter of 2003.

 First Quarter Operational Achievements:

• Launch of a new route optimizer for our core dispatch products that includes advanced support for the complex European airspace.  The Eurocontrol Route Availability Document (RAD) is a recent comprehensive set of dynamic restrictions designed to control the flow of aircraft.  Automation of route optimization through these restrictions is a global first for our industry.
• Several new customer contracts, including a comprehensive agreement with Chautauqua Airlines for our entire crew management product suite covering the implementation of our CLASSBid^TM preferential bidding system, our Cygnus^TM crew pairing optimizer and several add-on modules. Chautauqua was recently named the 2004 Regional Airline of the Year by Air Transport World. The agreement represents a significant inroad for Navtech�s crew management products into the growing regional airline market.
• Further growth in our European installed customer base with installation of our signature DispatchPro^TM product completed at TNT Airways based in Belgium, and leading outsource carrier Air Atlanta of Iceland.

About Navtech

Navtech creates and supports superior flight operations software for airlines. Navtech's software provides a competitive edge to airlines by facilitating significant costs savings in fuel consumption and crew planning, two areas that represent a majority of an airline's variable operating expenditures. With over 100 customers spanning more than 25 countries, Navtech's software directly supports millions of flights around the globe each year. Navtech and its employees understand the importance of creating solid partnerships between the company and its customers. Navtech has approximately 100 employees with offices in the United States, Canada, Singapore and the United Kingdom.

FORWARD-LOOKING STATEMENTS

This release may include forward-looking statements concerning the Company's intent, belief or current expectations with respect to, among other things, trends affecting its financial condition or results of operations and its business and growth strategies. Such forward-looking statements are based upon assumptions that may not be correct, are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those projected, expressed or implied. The Company does not undertake any obligation to update or revise any forward-looking statements. All forward-looking statements are subject to the risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, including those set forth under "Other Considerations" in the "Management's Discussion and Analysis or Plan of Operation" section of the Company's Annual Report on Form 10-KSB for the year ended October 31, 2004.

For further information please contact:

Navtech, Inc.

Gordon Heard

Chief Financial Officer

Tel: +1 519 747 1170 x288

Fax: +1 519 747 5282

gheard@navtechinc.com

www.navtechinc.com