<PAGE>
Exhibit 99.1
2026 McGaw Avenue, Irvine, CA 92614 FOR IMMEDIATE RELEASE
(949) 809-1100 Fax (949) 757-0941 Analyst Contact: Kevin Michaels
(949) 809-1608
POWERWAVE TECHNOLOGIES
ANNOUNCES PURCHASE OF NEW FACILITY
IRVINE, Calif., June 1, 2000 - Powerwave Technologies, Inc. (NASDAQ:PWAV)
announced today that it has purchased the Pacific Corporate Center located in
Santa Ana, California, from Boeing Realty Corporation. The Pacific Corporate
Center is a 360,000 sq.ft. facility located on approximately 22 acres and
currently has approximately 275,000 sq.ft. available for occupancy. Powerwave
purchased the entire facility for approximately $35.3 million. Powerwave
anticipates that it will consolidate its southern California operations and
headquarters facility at the Pacific Corporate Center over the next six to nine
months.
"This purchase of this facility will allow Powerwave to consolidate our
manufacturing and Southern California engineering and sales and marketing
activities from three separate buildings into one location," stated Bruce C.
Edwards, President and Chief Executive Officer of Powerwave Technologies. "We
also believe that this new facility will provide us with the necessary
manufacturing capacity for volume production in 2001 of next generation, or 3G,
power amplifiers."
Company Background
Powerwave Technologies, Inc., an ISO 9001 quality certified company, is a
leading supplier of high performance RF power amplifiers for use in wireless
communications networks. Powerwave designs, manufacturers and markets both
single carrier and multi-carrier RF power amplifiers. Powerwave's products are
utilized in both cellular and PCS base stations in both
<PAGE>
digital and analog networks. Powerwave also produces RF power amplifiers for the
wireless local loop market. Corporate headquarters are located at 2026 McGaw
Avenue, Irvine, Calif. 92614. Telephone (949) 809-1100. 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
Statements contained in this press release which are not historical
information are forward-looking statements as defined within the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements are
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: we have a
dependence on a limited number of customers; our operating results would be
negatively impacted by reductions or cancellations in orders from new or
existing customers; we required continued success in the design of new amplifier
products and such products must be manufacturable and of good quality and
reliability; movement of production lines may require requalification from
certain customers and any delays in obtaining such requalification could have a
negative impact on our revenues and our business; variability in our gross
margins on new products could result in a negative impact on our operating
results; our business requires continued favorable business conditions and
growth in the wireless communications market. Powerwave also notes that the
market price of its Common Stock has exhibited high levels of volatility and
therefore may not be suitable for all investors. More detailed information on
these and additional factors which could affect Powerwave's operating and
financial results are described in our Form 10-K for the fiscal year ended
January 2, 2000, and our Form 10-Q for the quarterly period ended April 2, 2000,
both of
<PAGE>
which are filed with the Securities and Exchange Commission, and other risks
detailed from time to time in the Company's reports filed or to be filed with
the Securities 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 circumstance occurring after
the date hereof or to reflect the occurrence of unanticipated events.
