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Exhibit 99.1



(BW)(CA-NOVATEL-WIRELESS)(NVTL) Novatel Wireless Announces

Shareholder Approval for its $6.7 Million Financing

    Business Editors/High-Tech Writers

SAN DIEGO--(BUSINESS WIRE)--May 7, 2003--Novatel Wireless, Inc. (Nasdaq:NVTL), a
leading provider of wireless data communications access solutions, today
announced shareholder approval for its $6.7 million financing.

As previously announced on March 13, 2003, the financing is in the form of an
initial $1.2 million of secured convertible subordinated short-term debt and
warrants which will be converted into the Company's Series B Preferred Stock;
$3.505 million of secured subordinated convertible debt which will be used to
satisfy liabilities that the investor group plans to purchase on behalf of the
Company; and $2.05 million of Series B Convertible Preferred Stock for cash
along with warrants to purchase common stock. The Company expects that this
financing will provide it with sufficient working capital until the Company
achieves break even cash flow.

The group of investors includes Bay Investments Limited, PS Capital LLC and
other investors.

"Our solid first quarter with growing year-over-year revenues and strong margin
improvement offered evidence of the progress and changes at Novatel Wireless,"
commented Peter Leparulo, chief executive officer of Novatel Wireless. "With the
completion of this financing by long-term investors, we are focused on
continuing to increase gross and product margins, improving our sales and
marketing effort and concentrating our R&D program on the most promising
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opportunities. We believe this focus will result in further improvements to our
business model and create a stronger company in the coming years."

    ABOUT NOVATEL WIRELESS, INC.

Novatel Wireless, Inc. is a leading provider of wireless data modems and
software for use with portable personal computers and handheld computing
devices. The company delivers innovative and comprehensive solutions that enable
businesses and consumers to access personal, corporate and public information
through email (including attachments), enterprise networks and the Internet.
Novatel Wireless also offers wireless data modems and custom engineering
services for hardware integration projects in a wide range of vertical
applications. The Novatel Wireless product portfolio includes the Merlin(TM)
Family of Wireless PC Card Modems, the Minstrel(R) Family of Wireless Handheld
Modems, Sage(R) Wireless Serial Modems, Lancer 3W(TM) Family of Ruggedized
Modems and Expedite(TM) Family of Wireless Embedded Modems. Headquartered in San
Diego, Calif., Novatel Wireless is listed on The Nasdaq Stock Market
(Nasdaq:NVTL). For more information, please visit the Novatel Wireless Web site:
www.novatelwireless.com or call 888/888-9231.

Note to Editors: The Novatel Wireless logo, Minstrel, Merlin, Sage, Lancer 3W
and Expedite are trademarks of Novatel Wireless, Inc. Minstrel and Sage are
registered with the U.S. Patent and Trademark Office. All other brands, products
and company names mentioned herein are trademarks of their respective holders.
This release may contain forward-looking statements, which are made pursuant to
the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve risks and
uncertainties. A number of important factors could cause actual results to
differ materially from those in the forward-looking statements. These factors
include risks relating to technological changes, continued acceptance of Novatel
Wireless' products and dependence on intellectual property rights. These
factors, as well as other factors that could cause actual results to differ
materially, are discussed in more detail in Novatel Wireless' filings with the
United States Securities and Exchange Commission and other regulatory agencies.

    CONTACT: Novatel Wireless

    Melvin Flowers, 858/812-3415
    www.novatelwireless.com
    or
    the blueshirt group, Investor Relations
    Chris Danne, 415/217-7722
    chris@blueshirtgroup.com
    Brinlea Johnson, 415/217-7722
brinlea@blueshirtgroup.com







