Research In Motion

Research In Motion

March 16, 2007 16:05 ET

RIM Provides Status Update

WATERLOO, ONTARIO--(CCNMatthews - March 16, 2007) - Research In Motion Limited ("RIM" or the "Company") (NASDAQ:RIMM)(TSX:RIM) today provides this status update pursuant to the alternative information guidelines of the Ontario Securities Commission (the "OSC"). These guidelines contemplate that the Company will normally provide bi-weekly updates on its affairs until such time as the Company is current with its filing obligations under Canadian securities laws.

As previously disclosed, while the review of stock option granting practices by the Special Committee of RIM's Board of Directors is now complete, the Special Committee and its advisors, together with the Company and the Company's external auditors, continue to do the work necessary to complete the restatement of RIM's previously filed financial statements and to file its interim financial statements for the second and third quarters of fiscal 2007.

As previously disclosed, the Company had originally anticipated updating its filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission (SEC) prior to its fiscal year end of March 3, 2007. Despite best efforts, the Company determined that additional time is required for the Company and its advisors to prepare the updated filings and for the independent auditors to complete their review of those filings. As a result, pursuant to the management cease trade order previously issued by the Ontario Securities Commission (OSC), RIM provided an update to the OSC on March 7, 2007 with respect to the status of the Company's continuous disclosure obligations. The OSC continued the management cease trade order (MCTO) in accordance with its terms, provided that the Company report to the OSC on the status of its continuous disclosure obligations on June 5, 2007 if the OSC has not received all necessary Company filings by June 1, 2007. In the interim, RIM will continue to provide bi-weekly updates on its affairs until such time as the Company is current with its filing obligations under Canadian securities laws. The Company has had communications with both staff of the OSC and staff of the SEC about its internal review. The Company intends to continue to cooperate with the OSC and SEC.

The Company reported that there have been no other material developments in the matters reported in the status update of the Company dated March 5, 2007.

About Research In Motion (RIM)

Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity to data. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX:RIM). For more information, visit or

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws relating to RIM's management-initiated, voluntary review of its option granting practices, including statements regarding the anticipated timing of filing financial statements and the additional work required to complete such filings and RIM's intention to provide regular updates to its shareholders. The terms and phrases, "will", "intends" and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience, its current assessment of matters relating to its ongoing internal review, and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances. Many factors could cause RIM's actual results, or future events to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: further determinations made by RIM's Special Committee, outside advisors, auditors and others; unanticipated developments and delays encountered in connection with RIM's efforts to complete the restatement of its financial statements and its securities filings; developments relating to RIM's ongoing communications with the SEC and the OSC; additional corrections that may be required based on factual findings and analysis following the date of this news release, risks associated with litigation relating to RIM's stock option grants; and legal and accounting developments regarding stock option grants and interpretations of such guidance. In particular, as noted in this news release, the Special Committee and its advisors, together with the Company and its external auditors, continue to do the work necessary to determine the accounting impact resulting from the Special Committee's findings and the estimates set forth in this news release may require further adjustment as a result of such additional work. Readers are cautioned to consider the forward-looking statements in light of these risks and others relating to RIM which are discussed in greater detail in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at or These factors should be considered carefully, and readers should not place undue reliance on RIM's forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM, Research In Motion and BlackBerry are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.

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