BNW Brunswick Corp

RNS Number:6124Z
Brunswick Corp
09 June 2004

Brunswick Completes Purchase of Navman NZ Limited

LAKE FOREST, Ill., June 2 Brunswick Corporation (NYSE: BC) announced today it
has purchased the remaining 30 percent of Navman NZ Limited stock that it did
not already own for total consideration of approximately US $33 million (NZ $52
million), paid in equal amounts of cash and shares of Brunswick common stock.
Brunswick acquired 70 percent of the stock of Navman in June 2003.

"We are extremely pleased to have completed this transaction. It has always been
our intent to acquire the remaining stock of Navman as we are fervent believers
in the company's abilities and potential," explained Brunswick Chairman and
Chief Executive Officer George W. Buckley. "This belief has been reinforced
during the past year as Navman's strong performance has given us an indication
of what Brunswick and Navman can do together."

"Further, as we believe the best is yet to come, we want to stay the course with
Navman," Buckley continued. "New Zealand will remain Navman's home, with Peter
Maire and all of Navman's experienced and accomplished management team remaining
in place. There also will be no changes for Navman's workforce, which has grown
by about 25 percent, or 130 jobs, worldwide in the past year. More than half of
that job growth has been in New Zealand, with the remainder in markets where
Navman is expanding its global presence."

"The Brunswick/Navman partnership has been very productive for both companies,"
said T.J. Chung, president of Brunswick New Technologies, a unit of Brunswick
that is comprised of Navman and several other companies. "Brunswick is further
strengthened through Navman -- its products, its people and its New Zealand
maritime heritage, while Navman has benefited from Brunswick's resources and our
commitment to our mutual success."

"Navman is the core of Brunswick New Technologies, and among the fastest growing
units within Brunswick," Chung continued. "Indeed, Navman is the backbone for
BNT and an integral player for Brunswick primarily in three arenas -- enhancing
our overall marine electronics capabilities, augmenting our efforts at advancing
integration of boat electronics, and offering opportunities for growth in
non-marine applications such as the GPS, land navigation and fleet management
markets."

"When we first joined forces with Brunswick, we said it would be a case of
business as usual for Navman, except that business would be faster, bigger and
better," said Peter Maire, who founded Navman and will remain its president.
"Navman will continue to introduce new GPS technology-based products from New
Zealand, while aggressively expanding our presence around the world."

Maire will also increasingly assume a broader role in Brunswick New
Technologies, concentrating on both the strategic aspects of Navman as well as
participating in key strategy development and technology opportunities for BNT.
"This will allow all segments of Brunswick New Technologies to benefit from
Peter's vision, insights and expertise," Chung explained.

About Navman

Established in 1986, Navman is among New Zealand's leading companies and a world
leader in the design, manufacture and marketing of high-reliability GPS products
for the marine, personal GPS, fleet management and OEM markets. Headquartered in
Auckland, Navman also has facilities in Christchurch and Wellington as well as
sales and distribution offices in Australia, the United Kingdom and the United
States.

About BNT

Brunswick New Technologies, a unit of Brunswick Corporation, is comprised of
Navman GPS-based products; Northstar Technologies marine navigational systems;
MotoTron engine control and vehicle networking systems; IDS dealer management
systems; and WDI business integration engine Web solutions and services.

About Brunswick

Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill
"Genuine Ingenuity"(TM) in all its leading consumer brands, including Mercury
and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard
engines; MotorGuide trolling motors; Teignbridge propellers; MotoTron electronic
controls; Northstar marine electronics; Navman GPS-based products; IDS dealer
management systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian, Sealine,
Bermuda, Ornvik, Savage and Uttern pleasure boats; Baja high- performance boats;
Arvor, Boston Whaler and Trophy offshore fishing boats; Crestliner, Lowe, Lund
and Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts
and accessories; Land 'N' Sea marine parts and accessories distributor; Life
Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling
centers, equipment and consumer products; Brunswick billiards tables; and
Valley-Dynamo pool, Air Hockey and foosball tables. For more information, visit
http://www.brunswick.com .
SOURCE  Brunswick Corporation 06/02/2004
CONTACT:  Dan Kubera, Director - Public and Financial Relations of
Brunswick Corporation, +1-847-735-4617/ Web site: http://www.brunswick.com(BC)
CO: Brunswick Corporation; Navman NZ Limited

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Brunswick Corporation's
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained
in the forward-looking statements, see "Risk Factors" in the Company's Annual
Report or Form 10-K for the most recently ended fiscal year


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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