Qualcomm Announces Repurchase

SAN DIEGO -- QUALCOMM Incorporated(Nasdaq: QCOM) today announced that it has repurchased and retiredapproximately 29 million shares of common stock during July and August 2007for approximately $1.1 billion under its $3.0 billion stock repurchaseprogram. Approximately $1.5 billion remains authorized for repurchase infuture periods, net of put options outstanding, under the stock repurchaseprogram announced on May 22, 2007.

"We are pleased to have repurchased shares at what, we believe, is asignificant discount to the long term intrinsic value of the Company'sbusinesses," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM."Our continued business execution, strong balance sheet and positive cashflows enable us to return capital to stockholders while making substantialinvestments in new technologies and future growth opportunities."

Since fiscal 2003, QUALCOMM has returned approximately $6.3 billion ofcapital to stockholders, including approximately $2.3 billion in dividendsand approximately $4.0 billion through the repurchase of approximately 101million shares of its common stock.

Qualcomm Inc. (Nasdaq: QCOM)