NUWAVE Technologies, Inc. Announces Third Quarter Results.

FAIRFIELD, NJ--(BUSINESS WIRE)--November 18, 1997--NUWAVE Technologies. (NASDAQ: WAVE), a leading designer, developer, and marketer of state-of-the-art video enhancing circuits, announced today results of operations for the quarter ended September 30, 1997. NUWAVE Technologies, Inc. a development stage company, indicated that it had net losses of $932,747 ($0.17 per share) for the three months ended September 30, 1997 and $3,038,956 ($0.57 per share) for the nine months ended September 30, 1997. For three months ended September 30, 1996, the company had a net loss of $1,721,633 ($0.33 per share) and for the nine months ending September 30, a net loss of $3,151,404 ($0.96 per share). The losses for the three and nine month periods ending September 30, 1996 included extraordinary loss of $848,160 relating to the write off of unamortized debt discount and unamortized financing costs.

The Company recently announced the formation of its ProWave Division to market and sell certain of its products to the professional video marketplace. In this regard, the Company has begun shipping the NVP2.2S and the NVP2.2P professional products based on the NUWAVE Video Processor (NVP), and has announced the hiring of The LACOM Group to accelerate its effort in the creation of a professional sales network to support its sales and marketing programs in launching these products. The Company also indicated that it continues to receive favorable reception to the NUWAVE software and NVP products from the OEM marketplace. Several potential original equipment manufacturer ("OEM") customers who previously had signed Confidentiality/Non-Disclosure Agreements with NUWAVE that allowed them to expand their review and examination of NUWAVE's proprietary video enhancement technology have subsequently extended and intensified their discussions with NUWAVE .

The Company is concentrating its resources primarily on the continued development and establishment of very specific and focused marketing programs for its NVP products in the OEM and professional video markets. The Company believes its product strategy will allow it to take advantage of the growth opportunity presented by the converging PC, television/HDTV and telecommunications markets. The Company anticipates this strategy will allow it to conserve its resources and at the same time maximize the benefits to be derived from introducing these products into these converging and expanding markets.

NUWAVE Technologies, Inc., develops, manufacturers and markets products to improve picture quality in televisions, computer monitors and other display devices by enhancing and manipulating video signals. NUWAVE is also developing video production and control products that facilitate the production of sophisticated videos by professional consumers.

Certain statements in this release are forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delay in product development , competitive pressures, general economic conditions, risks of intellectual property litigation, and risk factors detailed from time to time in the Company's annual report on form 10KSB and other material filed with the Securities and Exchange Commission. -0-

                                  OPERATING RESULTS

                            Three Months         Three Months
                               Ended                 Ended
                         September 30, 1996   September 30, 1997
Net loss before
extraordinary item           $   873,473    $   932,747
Extraordinary item               848,160       ________
Net loss                     $ 1,721,633    $   932,747
Net loss per share before    $     (0.17)   $     (0.17)
extraordinary item
Net loss per share on              (0.16)       _______
extraordinary item
Net loss                     $     (0.33)   $     (0.17)
Weighted average number of
 shares outstanding            5,112,609      5,348,334

                        Nine Months Ended  Nine Months Ended
                          September 30,      September 30,
                             1996                1997


Net loss before
extraordinary item           $ 2,303,244    $ 3,038,956
Extraordinary item               848,160      _________
Net loss                     $ 3,151,404    $ 3,038,956

Net loss per share before    $     (0.70)   $     (0.56)
extraordinary item
Net loss per share on              (0.26)       _______
extraordinary item
Net loss                     $     (0.96)   $     (0.56)
Weighted average number of
 shares outstanding            3,248,956      5,341,667

CONTACT: Gerald Zarin, President & CEO

NUWAVE Technologies, Inc.

[phone]; [phone] (FAX)

http://www.NUWAV.com