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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 170.90-1.3%Nov 7 9:30 AM EST
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To: Cooters who wrote (77646)7/25/2000 8:35:21 AM
From: Ruffian   of 152472
 
Part 2

Following the separation, the new company will be the leading
developer worldwide of CDMA integrated circuits and system software solutions
for wireless voice and data products. According to Dataquest's most recent
analysis, the new company will be the largest fabless semiconductor company
in the world. The new company is temporarily called QUALCOMM Spinco, Inc.
("Spinco"), and will change its name in due course.

As contemplated, QUALCOMM's integrated circuit and system software
solutions business would be transferred to Spinco and shares of Spinco would
be distributed to QUALCOMM stockholders in the form of a tax-free dividend.
QUALCOMM expects the spin-off to be completed by August 2001. The proposed
separation of the integrated circuit and system software solutions business
and the spin-off are each subject to final approval by the Company's Board of
Directors, a favorable ruling from the IRS regarding the tax-free nature of
the transaction and favorable market conditions.

INDUSTRY DEPLOYMENT OF CDMA FOR SECOND AND THIRD GENERATION WIRELESS SYSTEMS.

Since first proposing CDMA technology to the wireless industry in
1989, QUALCOMM has been widely recognized as the pioneer of CDMA technology
for wireless applications. Many in the industry now agree that CDMA
technology is the wireless air interface of choice for the future growth of
wireless communications and plan to adopt CDMA for third generation networks.
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