Wavecom Awarded Trophy for Excellence in Corporate Governance from EthiFinance "Les Etoiles"

Regulatory News:

Wavecom S.A. (Paris:AVM) (NASDAQ:WVCM) received the distinction of being awarded the 2008 trophy for excellence in Corporate Governance from EthiFinance an independent extra-financial research agency dedicated to the Corporate Social Responsibility (CSR) assessment required by Socially Responsible investors (SRI).

Wavecom was among five winners of this year’s "Etoile” categories including: Human Resource Management, Corporate Governance, Environmental Management, Global Performance and Most Promising.

Michel Alard, Wavecom President accepted the honor at a ceremony held on October 14 stating, "Receiving an award is always gratifying and this one comes at a critical time in the life of our company when Wavecom relies more than ever on the wisdom, advice and experience of its Board of Directors to ensure the best interest of all company stakeholders.”

Wavecom – the wireless M2M experts

Wavecom is a leading provider of embedded wireless technology for M2M (machine-to-machine) communication. We provide a range of GSM/GPRS, CDMA, EDGE and 3G Wireless CPUs; programmable processors which also act as wireless modules or wireless modems. These are backed by a C and Lua-based cellular wireless software suite which includes a real-time operating system (RTOS), a software development environment based on Eclipse™, and several Plug-Ins (GPS, TCP/IP, security, Bluetooth™, Lua script and more). We also offer a wide range of professional and operated services. Our solutions are used for automotive telematics, smart metering, fleet management, GSM/GPS/satellite tracking, wireless alarms, wireless POS (point of sales), WLL (fixed voice), remote monitoring and many other M2M applications.

Founded in 1993 and headquartered in Issy-les-Moulineaux (France) near Paris, Wavecom has subsidiaries in Hong Kong (PRC), Research Triangle Park, NC (USA), Farnborough (UK), Munich (Germany) and Sao Paolo (Brazil). Wavecom is publicly traded on Euronext Paris (Eurolist) in France and on the Nasdaq (WVCM) exchange in the U.S.

www.wavecom.com

About EthiFinance

Founded in 2004 EthiFinance is an independent extra-financial research agency dedicated to the Corporate Social Responsibility (CSR) assessment required by Social Responsible investors (SRI). Its research methodology and rating systems have been developed over the last five years to deliver the most relevant approach to non financial risk management within the small & midcaps segment market in Europe. It also provides - on demand – extra financial benchmarks of companies within a sector.

www.ethifinance.com