Press Release

Qualcomm Places 6.9 Million Shares of Common Stock in a Public Offering

SAN DIEGO -- July 21, 1999 -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that it has placed 6.9 million shares of its common stock in a public offering, through its underwriters, at $156.50 per share, resulting in net proceeds to the Company of approximately $1.079 billion. The joint book-running underwriters for the offering were Lehman Brothers and Goldman, Sachs&Co.

Copies of the final prospectus relating to the offering may be obtained from Lehman Brothers, Three World Financial Center, 200 Vesey Street, New York, New York 10285; and Goldman, Sachs&Co., 85 Broad Street, New York, New York 10004.

Qualcomm is a leading provider of digital wireless communications products, technologies and services. The Company designs, develops, manufactures and markets wireless communications and subscriber products and designs, develops and markets ASIC chips based on its Code Division Multiple Access (CDMA) technology. Qualcomm also licenses and receives royalty payments on its CDMA technology from major domestic and international telecommunications equipment suppliers. In addition, the Company designs, manufactures, distributes and operates products and services for its OmniTRACS® system. Qualcomm also has contracts with Globalstar™ to design, develop and manufacture subscriber products and ground communications systems, and to provide contract development services.

Qualcomm and OmniTRACS are registered trademarks of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated.