Navigant solicits consents to waive defaults on 4.875% convertibles

New York, June 10 - Navigant International, Inc. said it has begun soliciting consents from holders of its 4.875% convertible subordinated debentures due 2023 to allow more time to file financial reports and waive existing defaults.

Under the proposed changes, Navigant would have until Oct. 31, 2005 to file its annual compliance certificate and 10-K annual report for the year ended Dec. 26, 2004 and until Nov. 9, 2005 to file its 10-Q quarterly reports for the quarters ended March 27, 2005 and June 26, 2005.

Existing defaults under the reporting requirements would be waived.

Holders who consent will receive $5.00 per $1,000 principal amount.

The solicitation is subject to Navigant receiving consents from holders of a majority of the debentures.

The solicitation ends at 5 p.m. ET on June 17.

Navigant is a Denver provider of corporate travel management services.

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