First Round Funding

Santa Clara, CA - Oct 18, 1999 - Global Communication Technology, Inc. (GCT) today finalized its 1st round funding with great success. Headquartered in Santa Clara, California with an R&D subsidiary in Seoul, Korea, GCT has been developing RF IC's and cable modem IC's with its patented direct conversion architecture.

Mr. K.S. Lee, CEO and President of GCT, said, "The wireless market is growing at unimaginable speeds, putting great demand on companies to deliver more advanced and specialized technologies and products. GCT has been exploring the market with its unique technology which complement the most economical CMOS process technology around. As a result, our company has gained increasing endorsements from the industry and investors alike."

GCT will use the net proceeds of this first round of funding mostly for R&D investment and human resource purposes -- to bolster its single CMOS RF IC, broaden its product lines as well as to expand its workforce.

About GCT Semiconductor, Inc.

GCT Semiconductor is a leading fabless semiconductor company that produces innovative integrated circuit solutions for the wireless communications industry. With its proven radio frequency (RF) CMOS and system-on-a-chip (SOC) expertise, GCT provides state-of-the-art single-chip CMOS RF transceivers, mobile digital TV receivers and Mobile WiMAX solutions serving 3G and 4G mobile system manufacturers by reducing BOM cost, lowering power consumption and minimizing total solution size. For more information, please visit www.gctsemi.com.