August 27, 2002

News Release: Ranked 8 out of the Top 50 Emerging Growth Companies in Canada

Unity Wireless Corporation (OTCBB: UTYW; TSX Venture: UWC), a leading provider of high performance power amplifiers to the wireless industry, announced today that it has been recognized by Profit Magazine as one of Canada's Hottest Start-ups ranking 8 of the top 50 emerging growth companies in Canada. Ilan Kenig, President of Unity Wireless Corporation stated: "We are very proud to have been recognized by Profit Magazine as one of Canada's Hottest Start-ups. Since our power amplifier business began with two customers in 1999, we have grown rapidly and now export our products to six countries and do business with many of the leading wireless equipment manufactures around the world. We believe this growth was achieved mostly because of the dedication of our employees to make our technology among the best in the world."

Unity Wireless develops, manufacturers and sells power amplifiers that are an important component in wireless communications networks. Power amplifiers help us make calls with our cell phones, and receive messages on our pagers and PDAs (Personal Digital Assistants). The proliferation of these devices, and consumers' appetite for wireless services, has created a large market for wireless network equipment.

The ability to combine performance, reliability and efficiency at a competitive price has allowed Unity Wireless to sell thousands of amplifiers. The Company product line now includes power amplifiers for all of the popular mobile phone standards, including the new 3G, or third generation, protocols and the Company's newest Smart Power line of amplifiers have exhibited desirable performance and efficiency characteristics generating many favorable responses from current and prospective customers.

"It is Unity's technology and approach to business that has led to the Company recently signing four supply agreements with customers in the United States, Sweden and Italy that could represent more than US$25 million in revenues through 2005 if the agreements are fully performed at projected levels. These agreements together with new customers in China, Israel and the United States reflect the Company's effort to further diversify and expand the Company's customer base which management believes will continue to contribute to sustainable growth over the next several years," added Mr. Kenig.

Canada's Hottest Start-ups is one of Canada's premier awards programs for young growth companies. It celebrates the strategies and achievements of Canada's rising business stars. Results of the annual survey, with stories profiling top growth leaders, are published in the September issue of PROFIT, The Magazine for Canadian Entrepreneurs. For more information and the complete listing of Canada's Hottest Start-ups, please see Profit's website at http://www.profitguide.com/magazine/

About Unity Wireless Corporation www.unitywireless.com

Unity Wireless is a leading developer of Smart power amplifier technology. Our single-carrier and multi-carrier power amplifier products deliver world-class efficiency and performance with field-proven quality and reliability in thousands of base stations and repeaters around the world.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release contains statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward looking statements. Forward-looking statements in this release include statements regarding: future growth of revenues and profits, anticipated revenue generated by the agreements and ability of the Company to secure additional contracts. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties as: changes in customers' business plans or general market conditions that may adversely impact revenue generated by the agreements or result in the early termination of the agreements; the timing of delivery of the products; the risks associated with technical difficulties or delays in product introductions and improvements; unforeseen incompatibility between the Company's technology and that of its customers under the agreements; product development, product pricing or other initiatives of the Company's competitors; the possibility that our customers, and potential customers, will defer purchasing decisions due to economic, political or other conditions or will purchase products offered by the Company's competitors; and other risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB and other reports filed with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=11639

For further information: Investor Relations Contact: James E.
Carruthers, (604) 267-2716, jamesc(at)unitywireless.com or Media Relations
Contact: Ann Gibbs, (416) 488-4509, ann(at)anngibbspr.com

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