Logitech Announces Early Redemption of 1% Convertible Bonds

Logitech Announces Early Redemption of 1% Convertible Bonds

Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced that it is exercising its right to call for an early redemption of all its outstanding 1% convertible bonds due June 8, 2006. Logitech became entitled to exercise this right in late August under the terms of the bonds. The redemption date is November 11, 2005.
Based on Logitech´s current share price, the Company anticipates that the convertible holders will elect to convert their bonds into shares. The dilutive impact of these conversions has already been reflected in Logitech´s reported diluted net income per share in accordance with U.S. generally accepted accounting principles. Bonds in an aggregate principal amount of 169.8 million Swiss Francs (approximately 138 million U.S. dollars) are currently outstanding.

The redemption price is approximately 1,048.37 Swiss francs per 1,000 Swiss franc principal amount of bonds, including accrued interest through the early redemption date of November 11, 2005. Bondholders may elect to convert the bonds into Logitech registered shares at any time until 16:00 Central European Time on Friday, November 4, 2005. The bonds are convertible into 32.05128 Logitech registered shares for each 1,000 Swiss franc principal amount of bonds, at a conversion price of 31.20 Swiss francs per share. No payment will be made for accrued interest on bonds surrendered for conversion. The closing price of Logitech registered shares on the SWX Swiss Exchange on Wednesday, August 31, 2005 was 46.50 Swiss francs.

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