ComVest Clarifies Reported Ownership in U.S. Wireless Data.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 25, 2002

Commonwealth Associates today released certain clarifications to an April 19 news report by Dow Jones, regarding its affiliate ComVest Capital Partners LLC.

The report stated that ComVest had dramatically cut its ownership in U.S. Wireless Data, Inc. (OTC: USWE). In fact, ComVest has merely distributed all of its USWE stock to its partners, some of whom subsequently sold a small percentage of their holdings.

Michael Falk, the chairman and principal shareholder of Commonwealth said, "It is unfortunate that the news report gave a false impression that we had sold more than half of our position in U.S. Wireless Data. My negotiated sale of 250,000 shares, for example, represented less than 7% of my total holdings and was transacted as an accommodation to a sizable institutional investor taking an initial position in U.S. Wireless Data. We at Commonwealth continue to have the highest confidence in the business strategy, management, and future prospects of U.S. Wireless Data."

About Commonwealth Associates

Commonwealth Associates is an Investment and Merchant Bank, established in 1988, dedicated to creating long-term value for its corporate clients and investors. Through its affiliated fund, ComVest Venture Partners, L.P., Commonwealth contributes its own capital and its partners' capital to each transaction, typically acting as the lead investor in each investment that it sponsors.