Another Giant Step for Wavecom in Asia; Wavecom Signs an Agreement With Inventec for WISMO Modules.

Business Editors/Telecommunication Writers

ISSY-LES-MOULINEAUX, France--(BUSINESS WIRE)--May 2, 2000

WISMO Technology Selected as Best Solution

for Wireless Internet Access Device

Wavecom SA (Nasdaq: WVCM; Nouveau Marche: WAVECOM), a leading developer of digital wireless standard modules (WISMO(TM) today signed an agreement with Inventec Corp., one of Asia's leading manufacturers of consumer electronics products. Inventec chose Wavecom's WISMO solution to produce its first wireless Internet access device.

The agreement calls for Wavecom to deliver 200,000 WISMO2C modules. "This is our first major contract with a manufacturer in Taiwan, and we are delighted to work with such a reputed company as Inventec," said Jean-Charles Andreani, managing director of Wavecom Asia Pacific Ltd., Wavecom's subsidiary in Hong Kong. "This contract demonstrates the growing reputation of Wavecom's WISMO solution in the Asian market. In the wake of our recent successes in China and Japan, this contract reinforces Wavecom's presence in Asia."

Based in the city of Taipei (Taiwan), Inventec Corporation is one of Asia's largest consumer electronics manufacturers. It was established 20 years ago as a board level contract manufacturer.

Founded in 1993 and headquartered near Paris in Issy-les-Moulineaux, Wavecom designs, develops, manufactures and sells a range of fully integrated plug-in modules for GSM communications. Divided into three distinct lines--WISMO modules, external modems and integrated modems--all Wavecom products are based on its unique WISMO technology. WISMO, which stands for Wireless Standard Module, is a compact, fully integrated device containing all of the software, hardware and other technology needed to implement a wireless telecommunications standard. Designed for use in a wide variety of systems and wireless terminals, WISMO(TM) modules constitute complete implementation of the GSM Phase 2+ standard in the 900, 1800 and 1900 MHz bands. Company revenues totaled 19.6 million euros in 1998 and 36.6 million euros in 1999. Wavecom is publicly traded on the Nouveau Marche exchange in Paris and the NASDAQ exchange in the US.

www.wavecom.com

This press release may contain forward-looking statements that relate to the Company's plans objectives, estimates and goals. Words such as "expects," "anticipates," "intends," "plans," "believes" and "estimates," and variations of such words and similar expressions identify such forward-looking statements. The Company's business is subject to numerous risks and uncertainties, including probable variability in the Company's quarterly operating results, manufacturing capacity constraints, dependence on a limited number of customers, variability in production yields, dependence on third parties and risks associated with managing growth. These and other risks and uncertainties, which are described in more detail in the Company's most recent filings with the Securities and Exchange Commission, could cause the Company's actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.