Go Direct International Ltd. to Manufacture and Market NUWAVE's Video Game Enhancement Products

FAIRFIELD, N.J., Feb 25, 2003 (BUSINESS WIRE) -- NUWAVE Technologies, Inc. (OTCBB: WAVE), a developer of leading edge analog and digital image enhancement technologies, today announced the signing of a Memorandum of Understanding with Go Direct International Ltd. ("Go Direct") for the manufacture and marketing of products utilizing NUWAVE's proprietary video processor technology. Go Direct develops, manufactures, markets, and distributes innovative consumer retail products in conjunction with leading brands or custom branded products for the global marketplace. The Go Direct manufacturing group consists of eight factories with over 6,000 employees (www.godirect.com.hk). The two Companies' engineering and design teams are jointly working on the first products to be released under this arrangement and expect completion of this process within the next forty-five to sixty days. The Companies also expect to finalize negotiations and enter into a formal agreement during this time frame.

Under the terms of the proposed agreement NUWAVE will sell to Go Video its NVP 1104 video enhancement ASIC chips and grant to Go Direct the rights to manufacture retail gaming console products utilizing this technology. NUWAVE will also grant to Go Direct exclusive marketing and distribution rights for sale of these products in North America, Europe and parts of Asia. During the start-up period (the first six months) the Companies will establish minimum annual purchase quantities in order to extend the exclusive nature of the agreement for a longer period. Separate from the retail gaming products NUWAVE has developed and is marketing a line of products for the Security/Surveillance marketplace as well as other video enhancement set-top boxes for the consumer retail marketplace.

The first products to be released under the proposed arrangement would be a NUWAVE enabled series of Video Game "Hook-Up" cables that are designed to provide gamers with a trim, lightweight enhancement solution that would allow for quick and easy connection to any Sony(R) PlayStation, Microsoft(R) XBox or Nintendo(R) GameCube gaming console. These video enhanced cables would replace cables currently required for hook-up at a comparative price point. Go Direct would market and distribute these products to the retail marketplace in North America through Unical Enterprises' National sales rep organization with which NUWAVE had recently announced a strategic alliance to market gaming and accessory products under the Sylvania brand.

"With Go Direct's long-standing track record of manufacturing for Fortune 500 companies and over 20 years of international retail market experience and product promotion, we are excited to have them introduce our unique video enhanced gaming products into this $15 Billion marketplace," said Gerald Zarin, NUWAVE's President and CEO. "NUWAVE continues to implement its business development strategy of partnering with experienced companies in the manufacture, marketing and distribution of our patented video enhancement technology and products for the gaming, consumer retail and security and surveillance marketplaces."

Robert Treadwell, Chief Operating Officer of Go Direct added, "We are happy to add NUWAVE's proprietary video enhanced technology products to our retail gaming product line. Our international retail marketing experience allows us to introduce and promote leading edge products such as our universal video game hook-up cables powered by NUWAVE's ASIC chips under the Sylvania name to a very large competitive marketplace."