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QUALCOMM INCORPORATED COMMENCES INITIAL PUBLIC OFFERING OF COMMON STOCK

QUALCOMM INCORPORATED COMMENCES INITIAL PUBLIC OFFERING OF COMMON STOCK
 SAN DIEGO, Dec. 13 /PRNewswire/ -- QUALCOMM Incorporated (NASDAQ: QCOM) announced today that it commenced an initial public offering of 4,000,000 shares of common stock at a price of $16 per share. Of the shares being offered, 3,200,000 are being offered in the United States and 800,000 are being offered in a concurrent international offering. Lehman Brothers, Bear, Stearns & Co. Inc. and Alex. Brown & Sons Incorporated are managing the offerings.
 The company plans to use the proceeds from the offering to fund working capital requirements, product development and repayment of indebtedness and for general corporate purposes.
 QUALCOMM is a leader in digital wireless communications technologies. The company has developed a digital cellular telephone communications system based on its proprietary implementation of Code Division Multiple Access (CDMA) technology. The company has recently completed a large-scale field validation of the quality, capacity and coverage of its CDMA technology in San Diego. In addition, the company's OmniTRACS(R) system provides satellite-based two-way messaging and position reporting services to mobile users in North America and Europe. OmniTRACS is currently used by over 150 transportation companies, primarily in the trucking industry in North America.
 A copy of the final prospectus can be obtained from the office of Shearson Lehman Brothers Inc., World Financial Center, American Express Tower, New York, N.Y. 10285 (in Europe, 1 Broadgate, London, England EC2M7HA), Bear Stearns & Co. Inc., 245 Park Avenue, New York, N.Y. 10167, or Alex. Brown & Sons Incorporated, 135 East Baltimore Street, Baltimore, Md. 21202.
 QUALCOMM and OmniTRACS are registered trademarks of QUALCOMM, Inc.
 -0- 12/13/91
 /CONTACT: Adelia A. Coffman, vice president, chief financial officer of QUALCOMM Incorporated, 619-597-5146/
 (QCOM) CO: QUALCOMM Incorporated ST: California IN: TLS SU: OFR


SH -- NY036 -- 2394 12/13/91 13:16 EST
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Publication:PR Newswire
Date:Dec 13, 1991
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