P-Com Demands Immediate Delisting From Berlin Stock Exchange CAMPBELL, Calif., June 18 /PRNewswire-FirstCall/ -- P-Com, Inc. (OTC:PCOM) (BULLETIN BOARD: PCOM) , a worldwide provider of wireless telecom products and services, today announced that it has taken immediate steps to de-list its common stock from trading on the Berlin Stock Exchange. The Company's shares were listed on the Berlin Stock Exchange without the Company's prior knowledge, consent or authorization. "P-Com acted immediately upon learning that its shares were listed for trading on the Berlin Stock Exchange," said Dan Rumsey, Acting Chief Financial Officer and General Counsel. "We believe this practice could have had a negative impact on our share price, and we believe that delisting from the Berlin Stock Exchange will protect our shareholders from any impact caused by naked short selling, which could occur as a result of the unauthorized listing of our shares on the Berlin Stock Exchange." The listing appears to be part of an effort by domestic and foreign brokers to circumvent the recent restrictions by the National Association of Securities Dealers (NASD) and Securities Exchange Commission (SEC) against naked short selling. Naked short selling occurs when traders borrow stock and sell it with the hope that the stock price will decline before they have to return the shares to cover their position. Naked short selling involves groups of people actively working together to drive down a company's share price. More than 200 U.S. publicly traded companies are estimated to have been targeted by brokers to circumvent NASD and SEC restrictions against naked short selling. About P-Com, Inc. P-Com, Inc. develops, manufactures, and markets point-to-point, spread spectrum and point-to-multipoint, wireless access systems to the worldwide telecommunications market. P-Com broadband wireless access systems are designed to satisfy the high-speed, integrated network requirements of Internet access associated with Business to Business and E-Commerce business processes. Cellular and personal communications service (PCS) providers utilize P-Com point-to-point systems to provide backhaul between base stations and mobile switching centers. Government, utility, and business entities use P-Com systems in public and private network applications. For more information visit http://www.p-com.com/ or call 408-866-3660. Safe Harbor Statement Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause P-Com's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include, but are not limited to: the ability to achieve positive cash flow given the Company's existing and anticipated operating and other costs, and current sales trends; the Company's deteriorating cash position and its need to raise additional capital, and whether that capital is available on acceptable terms, if at all; the Company's ability to negotiate repayment terms with many of its creditors, and settle outstanding litigation; a continued severe worldwide slowdown in the telecommunications equipment and services sector; fluctuations in customer demand, pricing and competition; reliance upon subcontractors; the ability of P-Com's customers to finance their purchases; the timing of new technology and product introductions; and the risk of early obsolescence. Many of these risks and uncertainties are beyond P-Com's control. Reference is made to the discussion of risk factors detailed in P-Com's filings with the Securities and Exchange Commission, including its reports on Form 10-K and 10-Q. Media Contact: Investor Contact: Greg Berardi Dan Rumsey, General Counsel and Acting CFO 415-239-7826 408-866-3666 DATASOURCE: P-Com, Inc. CONTACT: media, Greg Berardi, +1-415-239-7826, or , for P-Com, Inc.; or investors, Dan Rumsey, General Counsel and Acting CFO of P-Com, Inc., +1-408-866-3666, or Web site: http://www.p-com.com/

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