Wavecom completes follow-on share offering and raises 103,425,000 euros in new capital

Issy-les-Moulineaux, France-June 19, 2000

Wavecom S.A., (Nasdaq: WVCM; Nouveau Marché: WAVECOM), a leading developer of digital Wireless Standard Modules (WISMO™), today completed its secondary public offering of 1,446,667 shares (in the form of shares and 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 was 98.50 euro per share and $94.50 per ADS.

This offering was 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.