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Intel Corporation and Proxim, Inc. Wednesday announced that the two companies have completed a technology agreement and an Intel equity investment in Proxim.

Proxim, a leading supplier of wireless LAN products, and Intel are currently working together to develop wireless home networking products based on the HomeRF SWAP (Shared Wireless Access Protocol) specification. The SWAP specification provides a standards-based solution that is designed to enable a broad range of interoperable consumer devices to use wireless data and voice communications in and around the home.

Intel has purchased 320,000 shares of Proxim common stock, comprising approximately 2.9 percent of the Company's outstanding shares, and has acquired a warrant to purchase 96,000 additional shares, subject to vesting conditions.

"Intel's technology relationship with Proxim is an important part of our home networking strategy and helps further our vision of a billion connected PCs in the next decade," said Dan Sweeney, general manager of Intel's Home Networking Operation. "Wireless solutions based on the HomeRF SWAP specification complement Intel's line of phoneline networking products and extend home networking to mobile devices in and around the home. We are working to further the worldwide growth of home networking."

"As the world's leading supplier of spread spectrum wireless LAN products, Proxim provides a unique set of radio-based broadband networking capabilities," said David C. King, chairman, president and CEO of Proxim. "These capabilities, together with Intel's leadership in the personal computer and communication industries, will help establish HomeRF products as the primary way to connect mobile devices in the home."

Home RF and SWAP The HomeRF Working Group was formed to provide the foundation for a broad range of interoperable consumer devices by establishing an open industry standard (SWAP Specification) for wireless digital communication between PCs and consumer electronic devices. The SWAP Specification defines a new common interface specification that supports wireless data and voice services in and around the home.

Products compliant with the SWAP Specification operate in the 2.4 GHz frequency band and use frequency hopping spread spectrum radio frequency technology. For additional information on the HomeRF Working Group and SWAP, visit the web site at www.homerf.org.

Headquartered in Mountain View, Calif., Proxim, Inc., is the world's leading supplier of spread spectrum wireless LAN products to OEMs and wireless solution providers. Proxim was first to market with 2.4 GHz frequency hopping wireless LAN technology with its RangeLAN2 product family in 1994.

In 1998, Proxim emerged as a leader in home networking solutions with the launch of its award-winning Symphony suite of cordless networking products for home and small office environments. Proxim is also a core member of the HomeRF Working Group and is committed to delivering HomeRF-compliant wireless networking technologies.