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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: SDR-SI who wrote (6757)	5/12/1999 9:47:00 AM
From: SDR-SI	Read Replies (1) \| Respond to of 11417

The following was posted to RB by one of its UK members and is commentary by ITG on the recent WAVX announcements and on the WAVX-ITG relationship: * * * * * * * * By: freemat_98 Reply To: None Wednesday, 12 May 1999 at 9:13 AM EDT Post #35324 of 35337 Internet Technology - Re GlobalWave Joint Venture Date: 12 May 1999 11:59:39 Service: Regulatory News Service RNS No 0930k INTERNET TECHNOLOGY GROUP PLC 12 May 1999 Internet Technology Group plc ('ITG') ITG's subsidiary GlobalWave to benefit from Wave's new products and partnerships ITG, through its subsidiaries, Global Internet and GX Networks, is the UK's largest independent Internet Service Provider ('ISP'). Through GlobalWave, a 75% owned joint venture with Wave Systems Corp ('Wave'), ITG has exclusive rights to distribute Wave's EMBASSY technology, an inexpensive, proprietary hardware and software-based device that enables secure transaction processing and distributed information metering in users' PCs, into Europe, the Middle East and Africa. There has been considerable shareholder interest in the recent series of announcements made by Wave and the Board of ITG has been asked to comment on the potential impact of these developments on ITG's GlobalWave joint venture. ITG is therefore summarising some of those announcements for the benefit of UK investors, and explaining how these might benefit GlobalWave. * 24 March News of a US$23 million fundraising exercise by Wave was particularly reassuring to investors and partners. This financing is intended to provide adequate funding for Wave's operational requirements until the first revenue generating products come on stream. * 19 April 1999 Announcement of a partnership between Wave and Sarnoff Corporation to form inTelecast, a data broadcasting company. The Sarnoff partnership is highly relevant to GlobalWave. With European digital terrestrial television broadcasting significantly ahead of the United States, the ability to offer a secure data broadcast architecture, infrastructure and content services to the PC will be very important. * 22 April 1999 Wave announced the launch of MyPublish, the Internet industry's first e-commerce service for individuals wishing to publish personal digital content. This service effectively uses a software implementation of Wave's secure digital content distribution technology. On the same day, Wave announced an agreement with theglobe.com, a leading online network that integrates e-commerce, content and user interaction to offer the MyPublish solution to its users. Discussions are underway between ITG and European media groups to create similar opportunities. * 10 May 1999 Wave announced a partnership with Atmel to integrate Wave's Embassy e-commerce system with Atmel's advanced secure transaction chip technology. This partnership will deliver an advanced 'e-commerce on a chip' solution enabling the secure distribution of music, videos, electronic books, software, games and other content. This 'independent' chip solution will enable Wave's partners to exploit a variety of form factors, including the smart card and low-cost plug in devices or 'dongles'. The significance of this announcement was reinforced yesterday as Wave announced its membership of The Smart Smart Card Forum. Wave's EMBASSY trusted client architecture provides a secure and open platform that any developer of smart card applications can use to deliver innovative services. With Europe's clear lead in Smart Card technology and usage, this is excellent news for GlobalWave. * 11 May 1999 Wave Systems Corp. and Actiontec Electronics, a leading manufacturer of data communications, announced the first deployment by a major data communications company of the Wave E-commerce System. Under the agreement, Actiontec will incorporate Wave's EMBASSY chips into select modem and home networking cards, providing users with a unique built-in e- commerce functionality enabling the secure purchase of digital content. The new Actiontec products are expected to ship in Q-4 of 1999. This series of announcements demonstrates the evolution of Wave from concept to reality. The technology partnerships and endorsements of the past year are now giving way to news about real content, applications and products. This demonstrates more clearly than ever before the enormous potential of the GlobalWave joint venture. ITG's Board is highly confident in the prospects for GlobalWave, and has committed to a significant expansion in staff and infrastructure in order to underpin the success of the venture. ITG Chief Executive, Laurence Blackall, commented: 'Wave has made exceptional progress over the past few months. Its EMBASSY technology is gaining acceptance in a growing number of applications, and is being adopted on an ever broader range of platforms. Wave's market capitalisation of $600 million demonstrates the US market's confidence in its unique technology; however, the market has yet to value the GlobalWave franchise in the context of the ITG group.' Enquiries: Internet Technology Group plc Tel: 0181 957 1180 Laurence Blackall Email: lb@globalnet.co.uk Richard Brocksom Email: rb@globalnet.co.uk College Hill Associates Tel: 0171 457 2020 Nicola Weiner Email: nicola@collegehill.co.uk END JVEBBGBUUSBCCCD added note : Internet Technology trades as ITH on London's AIM (Alternative Investment Market) * * * * * * * * * Steve