P-Com Announces New Trading Symbol

P-Com Announces New Trading Symbol 


CAMPBELL, Calif., July 16  /PRNewswire-FirstCall/ -- P-Com, Inc. (OTC:PCOM)
(BULLETIN BOARD: PCOM) , a worldwide provider of broadband wireless access
products and services to carriers, commercial enterprises and government
agencies, today announced that at market open on July 19, 2004, the company's
new trading symbol will be (OTC:PCMC) (BULLETIN BOARD: PCMC) .

P-Com's common stock will trade under the symbol "PCMC" as a result of the
company's previously announced, 1-for-30 reverse stock split.  The reverse
stock split is effective at market open on July 19, 2004.

As a result of the reverse stock split, the number of shares of P-Com common
stock issued and outstanding will be reduced from approximately 313 million
shares to approximately 10.4 million shares as of the market open on July 19,
2004.  In lieu of fractional shares, shareholders will receive a cash payment
based on the closing sales price of the Company's common stock on July 16,
2004, as reported on the over-the-counter bulletin board. Shareholders of
record will receive Letters of Transmittal and related instructions from
P-Com's transfer agent, Equiserve Trust Company, N.A. Shareholders who keep
their shares in street name with brokerage firms will have their accounts
adjusted by their respective brokers.  Questions and requests for Letters of
Transmittal should be directed to Shareholder Relations at Equiserve Trust
Company, N.A. at 781-575-3916.

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
   415-239-7826                             Acting CFO
                 408-866-3666
                                            

                                           EVC Group, Inc.
                                            Doug Sherk, Jennifer Beugelmans
                                            415-896-6820
                                            

DATASOURCE: P-Com, Inc.



CONTACT:  Greg Berardi of Blue Marlin Partners, [phone], or

, for P-Com, Inc.; or Dan Rumsey, General Counsel

and Acting CFO of P-Com, Inc., [phone], or ; or

Doug Sherk and Jennifer Beugelmans of EVC Group, Inc., [phone], or

, both for P-Com, Inc.



Web site:  http://www.p-com.com/ 

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