Dauphin Technology Signs $100 Million Financing Package Through Ladenburg Thalmann & Co., Inc.

Business Editors

PALATINE, Ill.--(BUSINESS WIRE)--April 28, 2000

Dauphin Technology, Inc. (OTC.BB:DNTK) today announced the signing of a $100 Million equity line with Techrich International Limited, through the New York Investment Banking Firm, Ladenburg Thalmann & Co. Inc. (http://www.Ladenburg.com). The funds available through the equity line will be used primarily for the production and marketing of the Set-Top Box under the recently awarded $500 Million Set-Top Box Contract, the Orasis(TM) product line and potential acquisitions.

The Company may utilize the equity line to draw down up to $100 million over the next 18 months. This gives the Company the opportunity and flexibility to better plan its financial needs and lock in more favorable stock prices during stable market conditions. Equally important is Dauphin's ability to control dilution by accessing funds in stages, only when needed, during the 18-month period. The financing strengthens Dauphin's position with affiliated suppliers and allows it the ability to broaden market penetration throughout the Americas, as well as around the world.

The share price for each draw down by Dauphin is based on a 22-day average trading price of the Company's common stock during the applicable period. The Company may draw down the capital in installments of up to $10 million monthly.

A Registration Statement has been filed with the SEC to register an adequate amount of shares to potentially be used toward several draw downs. The filing also includes registration of additional shares required for the fulfillment of prior obligations, including the Company's recent Private Placement. The Registration Statement relating to these shares has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the shares in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Ladenburg Thalmann is one of the oldest and most respected investment banking firms in the world, formed in the mid 1800s. The firm has distinguished itself as one of the most respected private merchant banks. Today Ladenburg Thalmann is a full service financial institution that meets the varying investment needs of corporate, institutional and individual clients. The firm is headquartered in New York with branch offices in Florida, Massachusetts and Ohio.

Dauphin Technology, Inc., a Palatine, Illinois based company with its manufacturing facility in McHenry, Illinois, RMS, develops manufactures and markets broadband communication products and hand-held computers including its flagship product, the Orasis(TM).

Certain matters discussed in this news release are forward-looking statement involving certain risks and uncertainties including, without limitations, changes in product demand, the availability of products, change in competition, economic conditions, various risks due to changes in market conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports.