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48
Report of Ernst & Young, LLP
Independent Registered Public Accounting Firm
The Board of Directors and Shareholders
Garmin Ltd.
We have audited the accompanying consolidated balance sheets of Garmin Ltd. and Subsidiaries (the Company) as
of December 31, 2005 and December 25, 2004, and the related consolidated statements of income, stockholders'
equity, and cash flows for each of the three years in the period ended December 31, 2005. Our audits also included
the financial statement schedule listed in the index at Item 15(a)(2). These financial statements and schedule are the
responsibility of the Company's management. Our responsibility is to express an opinion on these financial
statements and schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Garmin Ltd. and Subsidiaries at December 31, 2005 and December 25, 2004 and the
consolidated results of their operations and their cash flows for each of the three years in the period ended December
31, 2005, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related
financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents
fairly in all material respects the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the effectiveness of Garmin Ltd. and Subsidiaries' internal control over financial reporting as of December
31, 2005, based on criteria established in Internal Control-Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission and our report dated March 1, 2006 expressed an
unqualified opinion thereon.
/s/ Ernst & Young LLP
Kansas City, Missouri
March 1, 2006