Sewon and Wavecom Strengthen Business Relationship

Issy-les-Moulineaux, France and Seoul, Korea -June 03, 2002

Wavecom SA (Nasdaq: WVCM; Nouveau Marché: 7306), a leading developer of wireless standard modules (WISMO™), today announced the extension of its business relationship with Sewon Telecom Co., Ltd, one of South Korea's leading manufacturers of mobile phones.

Under recently received purchase orders, Wavecom will provide Sewon with its latest WISMO Quik series of modules for a new range of mobile telephones, scheduled to be launched in China and other markets early in the third quarter of this year. Further details of the new orders were not disclosed.

Sewon has been Wavecom's #1 customer for two years in a row. Since the original contract was signed in April 2000, more than two million WISMO modules have been shipped to Sewon to provide mobile connectivity for the company's popular mobile phones.

Sewon recently announced an order for 710,000 units of its SG-1200 mobile phone from a major Chinese client. The SG-1200 is powered by Wavecom's latest innovation, the ultra-thin WISMO Quik Q2403A module.

Welcoming the extension of the relationship with Sewon, Jean-Charles Andreani, Managing Director of Wavecom Asia Pacific Limited, said: "We at Wavecom are delighted to deepen our ties with one of South Korea's most important mobile phone companies. We are proud to be part of Sewon's continuing success as the company brings exciting new generations of mobile products to world markets."

"Superior time-to-market is a vital competitive advantage in today's mobile phone market," said H.S.Han, the Director of GSM Sales and Marketing of Sewon Telecom Co., Ltd. "Wavecom provides us with solutions that work. We appreciate their state-of-the-art technology and efficient customer support. The timely introduction of our products has allowed us to secure a solid foothold in the enormous Chinese market for mobile phones, where top-tier competitors have been locked in fierce battles for a higher share since 2000."

About Sewon Telecom Co., Ltd:

SEWON has secured its position as a representative venture firm in Korea since its establishment in 1988. From that time, SEWON has become the leading mobile telecommunication company as manufacturer and provider of CDMA and GSM mobile phones to the world wide market.

SEWON consolidated its international competitiveness as a firm specializing in mobile telecommunications equipment by taking over Maxon Telecom, a GSM manufacturer, together with its overseas network of sales including Japan, the U.K. and Denmark.

SEWON aims to grow as a first-rate mobile telecommunications equipment provider as well as trying to lead others in enriching people's lives by focusing its efforts on R&D for new technologies under the motto of "the N-E-X-T Mobile".