Mitel Closes $91 Million Bought Deal Secondary Offering of Common Shares

OTTAWA, May 28, 2014 (GLOBE NEWSWIRE) -- Mitel Networks Corporation (Nasdaq: MITL) (TSX: MNW), a global leader in business communications, announced today that it has closed the bought deal secondary offering previously announced on May 13, 2014 (the "Offering").  Under the Offering, Arsenal Holdco I, S.a.r.l., Arsenal Holdco II, S.a.r.l., Kanata Research Park Corporation and Shen Capital Corporation (collectively, the "Selling Shareholders") sold 7,400,000 common shares of Mitel at a price of CDN$12.30 per share for total gross proceeds of $91,020,000. The Offering was underwritten by a syndicate of underwriters led by CIBC and Cormark Securities Inc.

Mitel did not receive any proceeds from the sale of the common shares by the Selling Shareholders.

Mitel's headquarters are located at 350 Legget Drive, Kanata, Ontario, Canada, K2K 2W7.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities for sale in the United States or Canada.

CONTACT: Amy MacLeod (media & industry analyst)
         613-592-2122 x71245, [email protected]
         Michael McCarthy (investor relations)
         469-574-8134, [email protected]

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