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Powerwave Technologies Updates Current Business Outlook

IRVINE, Calif. - Jun. 11, 2001 - Powerwave Technologies, Inc. (NASDAQ:PWAV) today provided an update on its current business outlook. Powerwave announced that its second quarter revenue is anticipated to be below the Company's previous expectations. For the second quarter ending July 1, 2001, net sales are now expected to be in the range of $70 million to $80 million. For the first quarter ended April 1, 2001, the Company recorded revenues of $73 million. In addition, the Company expects to report a lower loss for the second quarter than it recorded in the first quarter of 2001.

"Our current second quarter revenue expectations reflect continued lower demand for our 2G single carrier products, sequential quarterly growth in our 3G WCDMA amplifier products along with ongoing softness in the network operator market," stated Bruce C. Edwards, President and Chief Executive Officer of Powerwave Technologies, Inc. "We believe that the global economic slowdown is contributing to the continued slowdown in the wireless communications sector which is creating slowdowns and delays in purchasing decisions at the network operator level which has also led to purchasing delays at the OEM level."

"While we are clearly disappointed with the continued slowdown in the Company's business and the impact that the current economic environment is having on our overall demand level, we are continuing to aggressively pursue cost reduction activities throughout our organization. With respect to future demand, we believe that we are well positioned to benefit from any expansion in demand for wireless infrastructure and are establishing a leadership position in delivering 3G WCDMA amplifiers for next generation base stations."

Powerwave plans to release its financial results for the second quarter ending July 1, 2001, on July 12, 2001 and will provide updated expectations for the remainder of the year at that time.

About Powerwave Technologies
Powerwave Technologies, Inc., a TL 9000 and ISO 9001 quality certified company, is a leading supplier of high performance RF power amplifiers for use in wireless communications networks. Powerwave designs, manufactures and markets both single carrier and multi-carrier RF power amplifiers for use in cellular, PCS and 3G base stations throughout the world. Corporate headquarters are located at 1801 E. St. Andrew Place, Santa Ana, Calif. 92705. Telephone (714) 466-1000. For more information on Powerwave's high performance ultra-linear RF power amplifiers and amplifier systems, please call (888)-PWR-WAVE (797-9283) or visit our web site at www.powerwave.com.

Forward-Looking Statements
The foregoing statements regarding financial results and revenue composition for the company's second quarter as well as the demand for 3G WCDMA products are "forward looking statements" and preliminary in nature. These statements reflect Powerwave's current beliefs and are based upon information currently available to Powerwave. Powerwave is subject to risks and uncertainties which could cause our actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: delays in deployment of wireless systems by wireless OEM's and delays in upgrading or expanding wireless systems by network operators and order cancellations and further order pushouts, all of which would cause us to have excess inventories which could have an additional negative impact on our operating results; variability in our gross margins on new products which could result in a negative impact on our operating results; our business requires continued favorable business conditions and growth in the wireless communications market which are presently being negatively affected by the global economic slowdown in the wireless communications market.

More detailed information on these and additional factors which could affect Powerwave's operating and financial results are described in the Company's Form 10-K for the fiscal year ended December 31, 2000, and its Form 10-Q for the quarterly period ended April 1, 2001, both of which are filed with the Securities and Exchange Commission, and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. Powerwave urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the Company faces. Additionally, Powerwave undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

NOTE: Powerwave and Powerwave Technologies are registered trademarks of Powerwave Technologies, Inc. and the Powerwave logo is a trademark of Powerwave Technologies, Inc.

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