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To: Jay k. who wrote (36134)	9/22/1998 10:05:00 AM
From: BillyG	Respond to of 50808

Innova-Fund........ newsalert.com InnovaCom Receives Additional Funding to Move Forward 'Company Prepares For First Product Shipments' SANTA CLARA, Calif., Sept. 21 /PRNewswire/ -- InnovaCom, Inc., (OTC Bulletin Board: MPEG) announced today that it had entered into an agreement to sell an existing institutional investor a total of $1,500,000 in convertible debentures, the proceeds of which will be used for working capital. Under the terms of the agreement, InnovaCom, Inc. will receive three installments of $500,000. The first installment has been received. Receipt of additional installments depends on InnovaCom, Inc. meeting certain performance criteria as specified in the agreement. The debentures, secured by the assets of the company, bear interest at 7% payable quarterly in arrears. As part of this agreement, the Company also issued warrants to purchase up to 375,000 shares of stock, and re-priced other warrants previously issued in conjunction with a prior convertible debenture sale. InnovaCom President Frank Alioto noted, "In the recent past, we have streamlined our operations and focused all personnel on producing products -- we begin delivery of our TransPEG(TM) Transmission Systems this month. We believe the additional funding from our investor expresses their confidence in InnovaCom's ability to produce and deliver MPEG-2 products and validates their trust in our vision and the viability of our technology." InnovaCom, Inc., a development stage technology company whose principal product focus is video compression technology and its related systems, is located at 3400 Garrett Drive, Santa Clara, Calif. 95054. For more information, please call InnovaCom at: (Ph) 408-727-2447; (Fx) 408-727-6625 or visit InnovaCom's website at: innovacom-mpeg2.com. For Investor Relations, please call: (Ph) 888-464-6734. This press release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward looking statement. Factors that might cause such a difference include, but are not limited to, the factors set forth under "Risk Factors" in the company's registration statement on Form SB-2 which was declared effective by the Securities and Exchange Commission on May 15, 1998. Readers should not place undue reliance on forward looking statements, which only reflect the view of management as of the date hereof. The Company does not undertake the obligation to publicly revise these forward looking statements to reflect subsequent events or circumstances. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission. SOURCE InnovaCom, Inc. /CONTACT: Curtis Chan of CHAN & ASSOCIATES, INC., 714-447-4993, Fax: 714-578-0284; or Frank Alioto of InnovaCom, Inc., 408-727-2447, Fax: 408-727-6625/ /Web site: innovacomm-peg2.com