AUGUST 26, 2003

Owasys becomes Wavecom Open AT Partner for solutions in the M2M market

• The agreement’s goal is to combine the expertise of both companies in the M2M area and to provide the Machine to Machine Market a higher effectiveness at a lower cost.

• Thanks to the agreement, Owasys will develop solutions for this market adapted to the needs of each customer.

• Owasys is a firm specialized in the design, development, manufacture and international sale of advanced wireless terminals. It was set up in the summer of 2002 with the additional participation of its employees coming from the Ericsson BTC-Bilbao Technology Centre, and they currently have 40 employees.

• Wavecom is a leading provider of integrated technology solutions for wireless voice and data applications. Wavecom's Wireless Open Workshop offering includes all the software and hardware elements that are necessary to develop truly innovative wireless devices, as well as the development tools and services needed to bring them to market quickly and easily.

• Wavecom pioneered the transformation of the telecommunications industry with a programme based on a universal access to the wireless communication technology.
• The French company has created a world wide network of Open AT Partners to make the development of wireless applications quicker and easier.

Bilbao, 26th of August 2003. Owasys Advanced Wireless Devices (Owasys) and Wavecom have reached a cooperation agreement through which Owasys becomes Open AT Partner of the French company. The goal of the agreement between both companies is focused in the development and marketing of more effective solutions for the wireless communication market and more specifically for the M2M market (Machine to Machine), Owasys being among the European most representative agents, adapting them to the needs of the each customer and offer them integrated solutions for any application.

Wavecom, established in 1993 by three engineers coming from Matra Communication, pioneered the transformation of the telecommunications industry with a programme based on universal access to the wireless communication technology. The agreement signed between the Spanish and the French companies will enable the development of software and hardware applications, based on the Open AT Software of Wavecom. The Open AT of Wavecom is designed for vertical applications such as M2M, and its main advantage lies on the flexibility it allows in the development of wireless applications.

Owasys, after the signing of the agreement, becomes one of the Open AT Partners of Wavecom, which will allow the development, based on the MUSE Platform (Modular User Software Environment) Partnership programme by Wavecom, of the most flexible software applications.
The partners that take part in the MUSE Platform Partnership programme have assumed the commitment to contribute with tangible benefits for all business partners and customers. That is the reason why both telecommunication companies commit themselves to develop specific solutions, adapted to vertical markets of M2M (mobile products, multimedia products, car industry products, vending, fleets, etc.), and adapted to the need of every customer.

THE COMPANIES

Owasys is specialized in the design, development, manufacture and international sale of advanced wireless terminals. Some months ago, Owasys launched to the market a family of terminals, the so called owa2X, for the Machine to Machine communications (M2M): the owa22A, for the car industry sector and the owa 22I, for the industrial sector industrial.
With these products, Owasys obtained the position of one of the main manufacturers in the M2M communications, providing with new solutions for the GSM market. It took a long time until now to find the solutions to every need of the customers, being all of them different form one another. The cooperation between Owasys and Wavecom will offer an easy answer to all these needs in a quicker way (short TTM), in an effective way and at a lower cost.

Just in its 10 months life, Owasys has achieved many goals. In October 2002, the firm is acknowledged as a member of the Bluetooth TM Car Working Group - Bluetooth TM Interest Group, an important international standardization forum. In December 2002 it acquires the 10% of the participation of P4Q Electronics, one of the most important companies that manufacture plates and electronic products in Spain. Apart form Spain and Portugal; it has reached cooperation agreements with distributors in the UK, Ireland, Germany, Austria, Switzerland, Italy and France and of commercial representation in the Netherlands and Belgium.

Among its last activities, Owasys has signed an agreement with the Spanish National Organisation for Blind (ONCE) so as to develop cellular phones designed for people with these kinds of difficulties, and it has obtained the certification of its Quality System according to the UNE-EN ISO 9001:2000. Together with this, Owasys has got a corporate capital amounting to 2.700.000 euros, and they have proposed to reach a staff number of 55 people in 2005.

ABOUT WAVECOM

Wavecom is a leading provider of integrated technology solutions for wireless voice and data applications. Wavecom's Wireless Open Workshop offering includes all the software and hardware elements that are necessary to develop truly innovative wireless devices, as well as the development tools and services needed to bring them to market quickly and easily.
Founded in 1993 and headquartered near Paris in Issy-les-Moulineaux, Wavecom has subsidiaries in Hong Kong (PRC), Seoul (South Korea) and San Diego (USA). Company revenues totaled _551.1 million in 2002 and _88 million for the period ended March 31, 2003. Wavecom is publicly traded on Euronext Paris (Nouveau Marché 7306) in France and on the NASDAQ (WVCM) exchange in the U.S.