Wavecom Updates Fourth Quarter 2005 Revenue Outlook

Issy-les-Moulineaux, France -December 21, 2005
Wavecom SA (NASDAQ: WVCM; Euronext Eurolist compartment C: AVM; ISIN: FR0000073066), a leader in embedded wireless communications solutions for automotive, industrial (machine-to-machine) and mobile professional applications, today updated its revenue outlook for the fourth quarter ending December 31, 2005.

Based on information currently available to management, the Company is updating its fourth quarter 2005 revenue outlook from a moderate to strong increase, to revenue now expected to be slightly below its third quarter 2005 level. This decrease in expected revenue is mainly the result of three factors. The first factor is that two large customers were unable to source key components for their products and as a result have rescheduled orders. The second factor is that another large customer rescheduled orders because of a separate supply chain issue. The third factor is that two smaller customers delayed their production ramp-up due to issues unrelated to Wavecom.

Commenting on this situation, Wavecom CEO Ron Black said “We are clearly very disappointed about the revenue shortfall this quarter. Nevertheless, we remain encouraged by the business, and continue to see traction across the board as evidenced by our twelve-month 2006 backlog, which was €35.5 million as of December 16, 2005”

Wavecom will issue fourth quarter and full year 2005 financial results on February 9, 2006 at 7:00 am (Paris time) to be followed in the afternoon at 3:00 pm Paris time by a conference call hosted by Wavecom management.