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[Scrooge McDuck]

SPWC news.............
SARASOTA, Fla., Dec 29, 2003 (BUSINESS WIRE) --

SPEEDCOM Wireless Corporation (OTCBB:SPWC) today announced that P-Com, Inc. on December 23, 2003 elected to convert $400,000 of its SPEEDCOM Wireless Corporation notes into common stock of SPEEDCOM at $.12 per share, resulting in the issuance to P-Com of 3,333,333 shares. No warrants or other derivative securities were issued. As of the date of this press release, December 29, 2003, SPEEDCOM had 23,425,355 common shares issued and outstanding.

SPEEDCOM will file a copy of this press release with the Securities and Exchange Commission pursuant to Form 8-K, which will be available on the SEC's website at http://www.sec.gov.

About SPEEDCOM

SPEEDCOM Wireless Corporation was a multinational, fixed broadband wireless solutions company. SPEEDCOM's Wave Wireless division was an innovator and manufacturer of a variety of broadband wireless products. On December 10, 2003, the company sold all of its operating assets and ceased its historical business operations. Since that time, the company has been seeking to maximize its shareholders'value through a merger, acquisition or similar business combination.


More information is available at http://www.speedcomwireless.com.