Wavecom Launches Two New Wireless Modules for World Market.

Business Editors

ISSY-LES-MOULINEAUX, France & LAS VEGAS--(BUSINESS WIRE)--Oct. 16, 2002

Wavecom SA (Nasdaq: WVCM; Nouveau Marche: 7306), the world's number one provider of integrated wireless modules, today announced the launch of two new dual-band wireless modules, one for the 850/1900 MHz bands and the other for the 900/1800 MHz bands.

Both feature GPRS Class 10 capability and will be available by the end of 2002.

The WISMO Quik Q2426, a 850/1900 MHz wireless module tailored to the needs of the American market, is one of the first commercially available products for the recently opened 850 MHz GSM/GPRS frequency band. The module thus enables manufacturers wishing to develop mobile devices specifically targeted at the fast growing North and South American markets to do so with ease. With this extension to its product portfolio, Wavecom is demonstrating its belief in and commitment to the Americas market, which the company expects to increase dramatically in size over the next few years.

The 850 MHz frequency band, which was recently opened for GSM/GPRS technology, enables new GSM/GPRS carriers and carriers using other technologies (AMPS, TDMA) to benefit from the global success of GSM/GPRS, and to lay the foundation for providing 2.5G and 3G services. In the North American market, the 850 MHz band primarily enhances network capacity in high-density areas, such as large cities. In South America, many countries only have 850 MHz band, limiting accessibility for manufacturers developing products for other mobile markets. The opening of the band therefore offers manufacturers significant new opportunities within these additional markets.

The Q2426 is joined by the WISMO Quik Q2406 module, another dual-band module offering which covers the 900 and 1800 MHz bands. Together, the two new modules offer worldwide coverage.

Commenting on the announcement, Aram Hekimian, Chief Executive Officer of Wavecom, said: "We are delighted to be able to give our customers the technology they need to take advantage of the huge market potential for wireless products worldwide, including the new markets created by the opening of the 850 MHz band for GSM/GPRS in North and South America. The WISMO concept is tremendously popular with application developers across a range of industries, and we are confident that the added benefits of universal GSM/GPRS roaming and 850 MHz compatibility will further secure its success. Once again, we are demonstrating our technological leadership and commitment by responding directly to our customers needs."

About Wavecom

A world pioneer in innovative wireless solutions, Wavecom was the first company to commercialize GSM technology in the form of a standard module, the WISMO, making wireless technology available to everyone. WISMO modules are compact devices that include all of the hardware, software and other technology needed to enable wireless communications over the GSM/GPRS, CDMA and future 3G networks.

The modules enable any equipment or system to communicate without a fixed line connection. Applications include mobile telephones, automotive navigation and information systems, personal digital assistants with wireless communications functions, and machine-to-machine communication solutions. The WISMO Quik range offers the fastest way to integrate full-featured wireless capability into any application and offers a simple upgrade path for existing customers, as well as full backwards and forwards compatibility as new products are introduced to the range.

Founded in 1993 and headquartered near Paris in Issy-les-Moulineaux, France, Wavecom has subsidiaries in Hong Kong (PRC), Seoul (South Korea) and San Diego (USA). Company revenues totaled EUR 322.7 million in 2001 and EUR 244.6 million in the six months ended June 30, 2002. Wavecom is publicly traded on Euronext Paris (Nouveau Marche) in France and on the NASDAQ National Market exchange in the U.S.

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, currency rate changes 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.