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Technology Stocks : XYBR - Xybernaut -- Ignore unavailable to you. Want to Upgrade?

To: Roy F who wrote (4993)	7/11/2002 9:41:58 AM
From: Roy F	Read Replies (3) \| Respond to of 6847

Xybernaut Raises $5 Million of Equity Capital July 11, 2002 09:15:00 AM ET FAIRFAX, Va.--(BUSINESS WIRE)--July 11, 2002--Xybernaut(R) Corporation XYBR today announced that it had raised more than $5 million in equity capital through a $4 million private placement of common stock with institutional investors and an exercise of approximately $1 million of previously issued warrants. The private placement was structured as a sale of common stock at $0.60 per share without reset or re-pricing provisions. The institutions also received callable warrants to purchase stock that would raise an additional $2.5 million for the Company if fully exercised. "This financing represents a strong endorsement of our technology in an extremely challenging equity market," stated Edward G. Newman, chairman, president and CEO of Xybernaut. "We continue to make progress on obtaining strategic capital while our cost cutting efforts and forecasted revenue growth will improve our cash flows from operations. This private placement was completed to allow us to continue executing our business plan while maintaining adequate capital reserves."