CONSHOHOCKEN, Pa.- Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Central District of California, on behalf of persons who purchased or otherwise acquired publicly traded securities of Powerwave Technologies Inc. (“Powerwave” or the “Company”) (NASDAQ:PWAV) between May 2, 2005 and October 9, 2006, inclusive, (the “Class Period”). The lawsuit was filed against Powerwave and certain officers and directors (“Defendants”).

If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than April 2, 2007 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants made a series of materially false and misleading statements or failed to disclose certain adverse facts, including; (1) problems associated with the implementation of the Company’s enterprise resource management system; (2) that Defendants had overstated Powerwave’s profitability and understated its expenses and acquisition integration costs; (3) that the Company did not have adequate internal controls; and, (4) as a result of the foregoing, Defendants lacked any reasonable basis to claim that Powerwave was operating according to plan and could achieve financial guidance issued by Defendants.

On October 9, 2006, Powerwave announced preliminary financial results for the third quarter of 2006. The press release announced that the Company expected revenue for the quarter to be in the range of $155 million to $160 million, approximately $50 million below the Company’s previous guidance. In reaction to the news, shares of Powerwave fell from $7.79 per share to $6.41 per share, a decline of approximately 17.7%.

If you bought Powerwave securities between May 2, 2005 and October 9, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 668-4130 to speak with an advisor.