8-K

		SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
		FORM 8-K
		Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
	Date of Report (Date of earliest event reported): October 2, 2001
Metawave Communications Corporation (Exact name of Registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization)					0-24673 (Commission File Number)	91-1673152 (I.R.S. Employer Identification No.)
				10735 Willows Road NE, Redmond, WA 98052 (Address of principal executive offices)(Zip Code)
			(425) 702-5600 (Registrant's telephone number, including area code)

Item 5.				Other Events.
	(a)     On October 2, 2001, Metawave Communications Corporation (the "Company") issued a press release announcing that it was revising third quarter expectations, as well as introducing new products and reducing its workforce by approximately 15 percent. The full text of the Registrant's press release issued in connection with the foregoing is filed as Exhibit 99.1 to this Current Report on 8-K and is incorporated herein by reference.
Item 7.				Financial Statements and Exhibits
	(c)	Exhibits.
			99.1		Press Release dated October 2, 2001.

	SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
		METAWAVE COMMUNICATIONS CORPORATION (Registrant)
Date: October 4, 2001		By:  /s/ Kathryn Surace-Smith                         Kathryn Surace-Smith           Vice President, General Counsel           and Secretary

	INDEX TO EXHIBITS
Exhibit Number	Description
99.1	Press Release dated October 2, 2001

EX-99.1

           Metawave Revises Third Quarter Expectations

  REDMOND, Wash. October 2, 2001 Metawave(R) Communications Corp.
(NASDAQ: MTWV), a global provider of smart antenna solutions that
increase voice and data capacity for wireless carriers, today
announced that it expects actual revenue for the third quarter
2001 to be lower than previously expected. Metawave is therefore
revising its guidance for the third quarter ended September 30,
2001 and anticipates that revenues will be in the range of $11-
$12 million. In addition, the company is introducing new products
and reducing its workforce by 48 employees, representing
approximately 15 percent of its workforce. The company expects to
report final results for the third quarter after market close on
Tuesday, October 23, 2001.

  "We are clearly disappointed by these results," said Bob
Hunsberger, chairman and chief executive offer of Metawave. "We
had approximately $15 million of orders that we could have
shipped but could only get $11-$12 million out the door due to
parts shortages and manufacturing test issues affecting our GSM
product shipments. In addition, the overall weakness in the US
economy continued to hurt our CDMA business."

  In separate news released today, the company announced two new
products that will expand its market opportunity. Metawave will
deliver its SpotLight(R) 2200 smart antenna system as an integrated
offering with the Lucent Flexent(TM) Modular Cell base station to
wireless service providers operating in the 850 MHz frequency
range. In addition, the company announced a new shared smart
antenna product, called SmartShare(TM), and a letter of intent for a
SmartShare purchase agreement with a leading tower company. This
product utilizes the company's new proprietary Cell Sculpting(TM)
technology to allow each operator using SmartShare to have its
own antenna pattern and improve its performance over conventional
antennas.

  "We are excited about our new product offerings," continued
Hunsberger. "They both expand the served market for our smart
antenna technology. These new offerings are part of a strategy
that has allowed us to reduce our headcount by about 15 percent.
We expect the combination of expanded market prospects and
reduced expenses will positively affect our future business
model."

  In conjunction with this announcement, the company will host a
conference call at 2:00 p.m. PDT today (5:00 p.m. EDT). The call
will be broadcasted live over the Internet and investors
interested in listening to the Web cast should log on to the
"Investor Relations" section of the Metawave Web site,
www.metawave.com, ten minutes prior to the call. The call will be
archived on the Metawave Web site soon after the call is
completed. The company will announce its third quarter 2001
results on October 23, 2001.

ABOUT METAWAVE
Metawave(R) Communications Corp. is a global provider of smart
antenna solutions that increase voice and data capacity for
wireless carriers. The company's SpotLight(R) smart antenna
offerings provide operators of CDMA, GSM and next generation 3G
wireless networks with cost-effective capacity solutions that
improve wireless network performance. Metawave's smart antenna
systems have been deployed worldwide by leading wireless
providers to meet rapidly increasing demand for wireless voice
and data services. Founded in 1995, the company is headquartered
in Redmond, Washington, with offices in California, Mexico City,
Sao Paulo, Shanghai, Taipei and Texas. For more information, call
1-888-METAWAVE or visit the company's Web site at
http://www.metawave.com.

                               ###

Metawave(R), SpotLight(R) and SmartShare(TM) are registered trademarks
or trademarks of Metawave Communications Corporation. All other
registered trademarks or trademarks are the property of their
respective holders.

Except for the historical information presented, the matters
discussed in this press release may contain forward-looking
statements relating to the development of Metawave
Communications' products and services, as well as other future
events, circumstances, trends, plans and prospects, and are
subject to certain risks and uncertainties that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
statements. These are forward looking statements for purposes of
the safe harbor provisions under the Private Securities
Litigation Reform Act of 1995. The words "believe," "expect,"
"intend," "anticipate," variations of such words, and similar
expressions identify forward-looking statements, but their
absence does not mean that the statement is not forward-looking.
Actual results may vary significantly from the results expressed
or implied in such statements. For example, there are risks
associated with developing and deploying new products, such as
the risk of customer acceptance and the risk of achieving
anticipated performance results. For a discussion of the risks
faced by Metawave, please see "Risk Factors" in Metawave's
Registration Statement on Form S-1 and other documents filed by
Metawave from time to time with the Securities and Exchange
Commission.