COM DEV Announces Approval of Normal Course Issuer Bid

CAMBRIDGE, ON, March 19, 2012 /CNW/ - COM DEV International Ltd. (TSX - "CDV") (the "Corporation") announced today the acceptance by the 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 and alternative trading systems.

Pursuant to the Notice, the Corporation proposes to repurchase up to an aggregate of 3,814,257 common shares during the 12 month period (the "Bid Period") commencing March 21, 2012 and ending March 20, 2013. The Corporation shall make available a maximum of $5,000,000 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 13, 2012, there were 76,285,146 common shares of the Corporation outstanding. The 3,814,257 common shares the Corporation intends to repurchase under the TSX normal course issuer bid represent 5% of the Corporation's issued and outstanding common shares, 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 17,375 shares on any given trading day, this number being 25% of the average daily trading volume of the Corporation's shares for the six calendar months ending on February 29, 2012.

The normal course issuer bid that is the subject of the Notice is a successor to the Corporation's normal course issuer bid that commenced on March 21, 2011 and will terminate on March 20, 2012 (the "Previous Bid").  To date, the Corporation purchased a total of 280,500ofits common shares at a weighted average price of $1.88 per common share under the terms of its Previous Bid.

The Corporation believes that its 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. As a result, depending upon future price movements and other factors, the Corporation believes that the repurchases of its common shares are in the best interest of the Corporation and represent a desirable use of corporate funds.

About COM DEV

COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services.  With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defense applications. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services.

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.

The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.  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.