Wavecom wins the Premium prize at the Deloitte & Touche Technology Fast 50 France awards

Issy-les-Moulineaux, France-December 19, 2002

Wavecom SA (Nasdaq : WVCM ; Euronext Nouveau Marche : 7306), the world’s number one provider of integrated wireless modules, today received the Premium prize at the Technology Fast 50 France awards, organized by Deloitte & Touche.

The awards reward French technology companies with the highest rate of revenue growth between 1998 and 2001. With 1548% growth during this period, Wavecom won the Premium prize, awarded to companies with annual revenues of at least €15 million.

The purpose of the Deloitte & Touche Technology Fast 50 awards is to promote companies which demonstrate, beyond their innovative qualities, the ability to develop at a very sustained rate in a constantly changing technological environment. The awards were created in 1995 in San Jose, at the heart of California's Silicon Valley, by Deloitte & Touche. Since then, their reputation has grown steadily, and they have rapidly become a benchmark for the success of growing technology companies. Today, ten countries participate in the program and publish every year a listing of the 50 companies with the highest revenue growth over the last three or five years.

“We are extremely pleased to receive this award, which reflects the sustained growth of our business since it was founded. Our sales have increased on average by 100% per year since 1994, and we expect to reach more than half a billion euros this year”, stated Michel Alard, Wavecom Chairman. Alard added, “At the same time, Wavecom has maintained its financial stability and today is solid and virtually debt-free - quite a challenge given such spectacular growth rates”.