Wavecom Upgrades Korean Presence to Full-Scale Subsidiary

Issy-les-Moulineaux, France and Seoul, Korea-May 27, 2002

Wavecom SA (Nasdaq: WVCM; Nouveau Marché: 7306), a leading developer of wireless standard modules (WISMO™), today announced the incorporation of a wholly-owned subsidiary, Wavecom Korea Co., Ltd.

Wavecom has been commercially present in Korea since April 2000. A branch office of Hong Kong-based Wavecom Asia Pacific Limited was established in Seoul in January 2001. In response to the strong upsurge in demand from Korean mobile handset and wireless device manufacturers, Wavecom has upgraded its Korean presence to a full-scale subsidiary.

Wavecom’s small, efficient and ready-to-use modules are already used in a wide range of Korean-made wireless devices. Korean exports of mobile phones and related products are forecast by the Ministry of Information and Communications to grow 50 per cent this year - to some US$15 billion - as the country’s economy is boosting.

“Wavecom is strongly committed to the Korean market. With their skill and dynamic approach, we see big opportunities for Korean companies in the global market for wireless products,” said Song Mee-Hee, Managing Director of Wavecom Korea Co., Ltd.