AWR Announces European Headquarters Relocation And Expansion

High-Growth EDA Company Relocates within Hitchin, UK

EL SEGUNDO, Calif., February 17, 2003 -- Applied Wave Research, Inc. (AWRä) a leading provider of high-frequency electronic design automation (EDA) tools, today announced the relocation and expansion of the company's European headquarters in the UK. The new offices are located at Lyon Court in Hitchin, Herts (Telephone: 44 (0) 870 220 2334) and will maintain responsibility for managing sales representatives and providing technical support throughout Europe.

"We see the potential to double our sales in Europe over the next few years with a proportional increase in staff based out of this new facility," said Steve Evans-Pughe, AWR vice president of European operations. "Our continued growth necessitated the move to a larger facility and the new building provides us with ample room for growth in a location ideally suited for European travel."

Since 1998, AWR had occupied space in the Paynes Park, Hitchin. "The new office provides us 300 square meters and will include customer demonstration and training facilities ideally located for both UK and European companies being close to two major motorways, mainline train service to London and with Luton and Stanstead airports near by," added Evans-Pughe.

About Applied Wave Research, Inc.
Applied Wave Research was founded in 1994 and is headquartered in El Segundo, California. The company is a supplier of high-frequency electronic design automation (EDA) products for the design of wireless telecommunications equipment, semiconductors, high-speed computers, networking systems, and a variety of other electronics-based products. AWR has sales offices, training centers, and distributors worldwide. For more information about the company and its products, please visit www.mwoffice.com or call 310-726-3000.

AWR and the AWR logo are trademarks of Applied Wave Research, Inc. All other marks are the property of their respective holders.