Wavecom announces follow-on share offering

Issy-les-Moulineaux, France-June 08, 2000

Wavecom S.A., (Nasdaq: WVCM; Nouveau Marché: WAVECOM), a leading developer of digital Wireless Standard Modules (WISMO™), today announced the pricing of its secondary public offering of 1,446,667 shares (in the form of shares or American Depositary Shares ("ADSs")), of which 1,050,000 shares were sold by Wavecom and 396,667 shares were sold by certain shareholders of the Company. The offering price is €98.5 per share and $94.5 per ADS. The selling shareholders have granted the underwriters a 30-day option to purchase up to 217,000 additional shares solely to cover over-allotments, if any.

This offering is being underwritten by Credit Suisse First Boston (as lead manager and bookrunner), BNP Paribas and Thomas Weisel Partners LLC. The net proceeds to Wavecom from the offering will be used to provide working capital, in particular to purchase components for recently signed contracts and future contracts and to fund the possible acquisition of businesses, products or technologies. The Company will not receive any of the net proceeds from the sale of the shares by the selling shareholders. Copies of the final prospectus relating to this offer may be obtained from Credit Suisse First Boston, 1 Cabot Square, London E14 4QJ, United Kingdom.