Navtech, Inc. Reports Fiscal 2003 Results: 11% Revenue Growth and 8th Consecutive Quarter of Profitability

Waterloo, Ontario, Canada, January 29, 2004:

Navtech, Inc. (OTCBB: NAVH), a leading international provider of aviation services and software solutions, announced its results for the year ended October 31, 2003.

Financial Highlights

Revenue increased by 11% to $6.9 million in fiscal year 2003 from $6.3 million in 2002.  Subscription-based recurring revenues accounted for 90% of total revenues and increased 12% to $6.2 million in 2003.  Navtech now provides services to 125 customers in over 26 countries, and continues to expand its customer base with $1.0 million of revenue from new customers in fiscal 2003.

 "We are delighted to see such positive results from our strategic research and development initiatives and investments in sales and marketing," said David Strucke, Navtech's President and Chief Executive Officer. "In 2003 we generated strong financial and strategic momentum, and on the basis of this success we will continue with our plans for product suite enhancements and development of new geographic markets."

Navtech completed the year with its eighth consecutive quarter of profitability, reporting an after-tax profit of $705,000 for fiscal 2003, compared to $409,000 in 2002.   Operating expenses increased 12% from 2002 as Navtech expanded sales efforts to develop new geographic markets and increased research and development activities.  Recoveries of income taxes of $312,000 were recorded in 2003, which included recognition of certain future benefits related to previous years' tax losses and credits.

Navtech's financial position was strengthened further in 2003 with a positive inflow of cash from operations of $323,000, and debt balances have decreased to $100,000 representing only 1% of 2003 revenues.

 2003 Product Suite Enhancement Achievements

• The functionality of our crew scheduling products was significantly enhanced with the acquisition of a source code license from Parallel Integrated Application Systems (PIAS).   PIAS^TM optimizer technology includes crew pairing and bidline construction, and when integrated with our industry leading CLASS^TM preferential bidding product, will enhance the effectiveness of our customers' crew planning.
• Partnerships were established with Spirit Airlines and Canadian carrier WestJet to develop new crew management systems designed to manage schedule change requests and awarding of annual vacation entitlement.
• Benefits of the increasing breadth of our product offering were realized with 75% of all new customer contracts in 2003 including multiple products and services.

 2003 Sales and Marketing Successes

• Long-term contract renewals were secured with nine of our largest customers.  Twenty-two of our twenty-five largest customers are now under long-term service contracts, accounting for $3.4 million of revenue in 2003.
• Continued successes were achieved in the development of the European market with the establishment of new customer contracts, including those with leading outsource carrier Air Atlanta Icelandic and the TNT Express airline group.
• Dispatch product launch customer was secured in Asia.
• Significant advancement in Navtech's market position for crew scheduling products was secured through agreements with Aloha Airlines and JetsGo for our CLASS^TMand CLASSBid^TMproducts.
• Sales representation was established in Sweden and Singapore, advancing our presence in the European and Asian markets.

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