Tags: MAXRAD, PCTEL, pctel.com, Securities and Exchange Commission, Summit IR Group, Wireless

1.88 Million Shares Bought Back at Average Price of $9.04 in Second Quarter

PCTEL, Inc. (NASDAQ: PCTI), a leader in propagation and optimization solutions for the wireless industry, today announced that it successfully completed the buyback authorized by the Board of Directors in late 2007. The company restricts its buying to the middle five weeks of the quarter. As previously announced, the company bought back 1.14 million shares in the first quarter at an average price of $6.66. As of June 5, 2008, they bought an additional 1.88 million shares at an average price of $9.04. The average price for all 3 million shares was $8.15.

“The buyback of these shares coupled with the special cash dividend of $0.50 per share that we paid in May, represents a significant return to our shareholders,” said Marty Singer, PCTEL’s Chairman and CEO. “We realized a cash benefit of approximately $42 million after expenses and taxes from our sale of the Mobility Solutions Group and we returned approximately $35 million to our shareholders,” added Singer.

The company now has 19.0 million shares outstanding. The company anticipates that it will end the quarter with over $85 million in cash.

About PCTEL

PCTEL, Inc. (NASDAQ: PCTI), is a global leader in propagation and optimization solutions for the wireless industry. The company designs and develops software-based radios for wireless network optimization and develops and distributes innovative antenna solutions. PCTEL’s MAXRAD® antenna solutions address public safety applications, unlicensed and licensed wireless broadband, fleet management, and network timing. Its portfolio includes a broad range of antennas for WiMAX, Land Mobile Radio, GPS, telemetry, RFID, WiFi, indoor cellular, and mesh networks. The company’s SeeGull® scanning receivers, receiver-based products and CLARIFY® interference management solutions are used to measure, monitor and optimize cellular networks. PCTEL’s products are sold worldwide through direct and indirect channels. For more information, please visit the company’s web site at: www.pctel.com.

PCTEL Safe Harbor Statement

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Specifically, the statement regarding PCTEL’s anticipation of its quarter end cash balance is a forward looking statement within the meaning of the safe harbor. This statement is based on management’s current expectations and actual results may differ materially from those projected as a result of certain risks and uncertainties which are detailed in PCTEL’s Securities and Exchange Commission filings. This forward-looking statement is made only as of the date hereof, and PCTEL disclaims any obligation to update or revise the information contained in any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

PCTEL, Inc.
John Schoen
CFO
(630) 372-6800
or
PCTEL, Inc.
Jack Seller
Public Relations
(630) 339-2116
Jack.seller {at} pctel(.)com
or
Summit IR Group
Mary McGowan
Investor Relations
(408) 404-5401
mary {at} summitirgroup(.)com