SAN DIEGO - September 22, 2003 - Novatel Wireless, Inc. (Nasdaq: NVTL), a leading provider of wireless data access solutions, has appointed Horst J. Pudwill to its board of directors. Mr. Pudwill has over 20 years of international manufacturing, brand building and corporate acquisition experience in North American, Asian and European markets.
As founder, current chairman and CEO of Techtronic Industries Co. Ltd. (TTI) headquartered in Hong Kong, Mr. Pudwill built TTI from an OEM & ODM manufacturer to a $1.2 billion global manufacturer of industry leading brands in power tools, lawn and garden equipment, and floor care appliances including Ryobi (Ryobi Technologies Inc.), Dirt Devil, and Homelite.
Mr. Pudwill was the former chairman of the board of NovAtel Communications Ltd., a Canadian telecommunications company from which Novatel Wireless was spun off. A co-founder of Novatel Wireless, Mr. Pudwill was instrumental in establishing Novatel Wireless in April 1996.
"Horst's extensive international business and acquisition experience make him an extremely valuable addition to our board," said Peter Leparulo, chief executive officer of Novatel Wireless. "His strong expertise in brand building and growing businesses into global market leaders will help us continue to position Novatel Wireless as a leader in the wireless data industry."
"I am excited to expand my involvement with Novatel Wireless by joining the board of directors," said Horst Pudwill. "I look forward to providing guidance as Novatel Wireless continues to refine their business model and build relationships with industry leaders worldwide."
ABOUT NOVATEL WIRELESS, INC.
Novatel Wireless, Inc. is a leading developer of wireless PC cards, embedded modems, software and custom engineering for use in mobile computing devices. The company delivers innovative solutions to retail, wholesale and vertical markets worldwide enabling access to personal, corporate and public information over advanced wireless networks such as GSM, GPRS, CDMA and UMTS. Novatel Wireless Merlin PC Card and Expedite Embedded Modems are used in portable computers, handheld devices and vertical market applications. Headquartered in San Diego, California, Novatel Wireless is listed on Nasdaq: NVTL. For more information, visit
www.novatelwireless.com
© 2002 Novatel Wireless. All rights reserved. The Novatel Wireless logo, Merlin, and Expedite are trademarks of Novatel Wireless, Inc. Other product or service names mentioned herein are the trademarks of their respective owners.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, continued acceptance of Novatel Wireless' products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at
www.sec.gov) and other regulatory agencies.
