Sandvine Reports H1

WATERLOO, Ontario -- Sandvine Corporation, together with its wholly owned subsidiary, Sandvine Incorporated, one of the leading developers and marketers of network equipment targeted at the evolving needs of today’s residential broadband service providers, today announces its maiden interim results for the six months ended 31 May 2006.

FINANCIAL HIGHLIGHTS

4th consecutive half of revenue growth Revenue of $14.3 million; a 168% increase from $5.3 million for the same period last year Net loss reduced by 64% to $0.7 million down from $1.95 million for the same period a year earlier Basic loss per share reduced to $0.007 per share from $0.029 for the same period a year earlier Cash generated from operations of $2.5 million as compared to a $4.1 million cash burn for the same period last year

BUSINESS HIGHLIGHTS

A successful admission on the AIM market of the London Stock Exchange raising net proceeds of $37.3 million (£18.4m) on March 21, 2006 10 new customers were added in the first half of the year 60 broadband service provider customers in 29 countries. Sandvine has sold equipment to service providers representing networks with more than 34 million residential subscribers PTS 14000 platform unveiled in June, enabling intelligent broadband network solutions with 10 gigabit connectivity To view this financial release in it's entirety, click here.

Dave Caputo, President and CEO for Sandvine commented:

"Sandvine continues to take advantage of the growing demand for its products and services as our maiden half-yearly results as a publicly-traded company clearly demonstrate. As we look to execute our stated growth strategy we continue to enhance our service offering and take steps into expanding our global footprint enabling intelligent broadband networks.”

Scott Hamilton, Chief Financial Officer for Sandvine commented:

"We are very pleased with the financial results demonstrated this half. With a successful initial public offering and four consecutive halves of revenue growth, we are well positioned to continue momentum and meet our 2006 targets."

Sandvine Inc.