Press Release

Qualcomm to File Registration Statement to Issue Common Shares Decision Comes After Announcement to Add Qualcomm to the S&P 500 Index

Jul 12, 1999SAN DIEGO

Qualcomm products mentioned within this press release are offered by Qualcomm Technologies, Inc. and/or its subsidiaries.

SAN DIEGO -- July 12, 1999 -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that it intends to file a registration statement with the U.S. Securities and Exchange Commission to issue four million shares of common stock, plus an additional 600,000 shares to cover overallotments. All of the shares will be offered by Qualcomm.

The purpose of the offering is to partially meet the anticipated needs of index funds to purchase Qualcomm common stock when the Company is added to the Standard&Poor's 500 Stock Index.S&Pannounced last week that Qualcomm was selected to replace Transamerica in theS&P500 Index. Transamerica is being acquired by Aegon NV in a transaction expected to close after July 20, 1999. The exact date has not been determined. The offering will be made to the index funds only by means of a prospectus.