Research In Motion Completes Equity Offering

On January 21, 2004, Waterloo-based Research In Motion Ltd. completed a cross-border public equity offering to raise proceeds of US$944,868,750. The offering consisted of 12.075 million common shares, including 1.575 million common shares issued under an over allotment option granted to the underwriters. The offering was undertaken by way of a short form PREP prospectus filed with the securities commissions in certain provinces of Canada and a registration statement filed with the US Securities and Exchange Commission under the multijurisdictional disclosure systems.

The offering was book-run by Lehman Brothers Inc. and Merrill Lynch & Co., and was managed by Goldman Sachs & Co., UBS Investment Bank, Banc of America Securities LLC, BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities Ltd., Canaccord Capital Corp., National Bank Financial, Orion Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., SG Cowen Securities Corp. and TD Securities Inc.

Research In Motion was represented by in-house counsel Karima Bawa; in Canada by Wildeboer Rand Thomson Apps & Dellelce, LLP, with a team that included Robert Wortzman, Troy Pocaluyko, Carolyn Musselman and James Brown (corporate and securities) and Susan Thomson (tax); and in the US by Skadden, Arps, Slate, Meagher & Flom LLP, with a team that included Christopher Morgan, Riccardo Leofanti, Jonathan James and Eric Spindel (corporate and securities), Andy Strobert and Guy Perry (intellectual property) and Eric Sensenbrenner and James Alpi (tax).

The underwriters were represented in Canada by Blake, Cassels & Graydon LLP, with a team that included Chris Hewat, John Kolada, Paula Sawyers and David Moon (corporate and securities), Leslie Morgan and Chris Van Loan (tax) and Bob Nakano and Ed Fan (intellectual property); and in the US by Cleary, Gottlieb, Steen & Hamilton, with a team that included David Gottlieb, Ethan Skerry, AJ Kaneko and Lisa Coar (corporate and securities), William McRae and James Lyons (tax) and Mauro Premutico and Thomas Rayski (intellectual property).