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  OPENWAVE ANNOUNCES EXTENSION TO STOCK OPTION EXCHANGE PROGRAM FOR EMPLOYEES
  

  REDWOOD CITY, Calif. - September 11, 2001 -- Openwave Systems Inc. (Nasdaq: OPWV), today announced that it has extended the voluntary stock option exchange program for its employees, previously announced by Openwave on August 1, 2001. The stock option exchange program has been extended by six days until Monday, September 17, at 8pm Eastern Standard Time. Without this extension, today would have been the last day for eligible employees to elect to cancel options in exchange for replacement stock options.

The replacement stock options will be granted with an exercise price equal to the fair market value of Openwave stock on the date of grant, which will be between six months plus one day and seven months after the option cancellation date. Due to this extension, the option cancellation date is now September 17, 2001.


About Openwave
 
Openwave Systems Inc. (Nasdaq: OPWV) is the worldwide leader of open IP-based communication infrastructure software and applications. Openwave is a global company headquartered in Redwood City, California. For more information, please visit www.openwave.com.

 
Openwave and the Openwave logo are trademarks of Openwave Systems Inc.

For further information:
 
Contact Openwave Worldwide Public Relations

Openwave Systems Inc.
Alexandrea Todd
+1 650 480 4346
alexandrea.todd@openwave.com

  



 
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