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TRIMBLE NAVIGATION ANNOUNCES NEW CREDIT FACILITY

 SUNNYVALE, Calif., Jan. 29 /PRNewswire/ -- Trimble Navigation Ltd. (NASDAQ: TRMB) today announced that it has closed a new $15-million three-year term credit facility with Barclays. Proceeds from the initial funding of $9.3 million were used to fully repay Trimble's previous banks. The credit facility is secured primarily by receivables and inventory. A borrowing base formula is employed with initial funding availability of $14.6 million, and with potential availability on the same assets of over $18 million as new foreign credit insurance takes effect.
 "This important financing stabilizes our borrowing capacity," stated Charles R. Trimble, chairman and chief executive officer. "We are pleased to be able to move forward with this new credit facility behind us."
 Trimble Navigation Ltd. is a world leader in the emerging commercial market for satellite-based navigation and positioning products using the U.S. government-funded Global Positioning System (GPS). Trimble designs, manufactures and markets electronic instruments and systems for navigation and determining precise geographic location. The products are sold in a variety of applications including survey and mapping, Geographic Information Systems (GIS), marine, aviation, vehicle tracking, military applications and differential GPS systems. Founded in 1978 and located in Sunnyvale, Trimble has been the leader in the commercial business of GPS since 1984.
 -0- 1/29/93
 /CONTACT: Doug Sherk or Ken Dennard, 415-296-7383, or David Walke or Miriam Adler, 212-986-5900, all of Morgen-Walke for Trimble Navigation/
 (TRMB)


CO: Trimble Navigation Ltd. ST: California IN: CPR SU:

GT-SG -- SF005 -- 0823 01/29/93 14:10 EST
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Publication:PR Newswire
Date:Jan 29, 1993
Words:250
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