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QUALCOMM OFFERS PRIVATE PLACEMENT

SAN DIEGO-Qualcomm Inc. finalized terms of its proposed placement of 5.75 percent Trust convertible preferred securities. The offering has been increased from $450 million to $550 million in gross proceeds (See related story on Page 20).

The securities represent an undivided beneficial interest in Qualcomm Financial Trust I. The securities will be convertible into Qualcomm common stock at a conversion price of $72.66 per share.

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