NEWS

4Wave Clears Technical Hurdle With Prototype Development
Company achieves breakthrough for 10 Gigabit Ethernet deployment

FALLS CHURCH, VA – April 22, 2002 – 4Wave, a Milestone Equity Partners’ portfolio company, has successfully fabricated four distinct, adjacent, miniature narrow-band pass filters simultaneously, on the same substrate. This 4-channel optical filter chip (in the visible spectrum) has never before been demonstrated and is a major milestone in the deployment of 10 Gigabit Ethernet fiber optic transceivers. This accomplishment occurs on the eve of 4Wave's relocation to its new 8,000 sq. ft., Class 1000 cleanroom facility in Sterling, VA, which was specifically designed for optical chip fabrication.

The current installed base of multi-mode optical fiber cannot support 10 Gigabit Ethernet without deploying expensive, cumbersome electronics. Replacing the installed fiber is an expensive proposition. The 4Wave chip eliminates significant barriers to 10 Gigabit Ethernet deployments in metro areas, namely the cost and size of components required to utilize the existing fiber base.

Milestone Equity Partners has been working closely with 4Wave to help the company refine its business strategy, complete its product, and pursue expansion capital. Milestone Partner Marty Jackson said, “4Wave’s patented filter technology provides network infrastructure enhancements that optimize the capacity of the installed fiber base. We believe 4Wave is now in position to raise capital and deploy this technology that will significantly improve bandwidth utilization.”

4Wave was selected to present at the Capital Connection venture capital event sponsored by the Mid-Atlantic Venture Association (MAVA), May 28-29, 2002.

About 4Wave, Inc.

4Wave is the premier developer of atomic layer engineering techniques through ion beam processing innovations. 4Wave’s expertise in ion beam and plasma processing systems, ion/electron/plasma sources and in-situ process monitors for the etching and deposition of thin films has resulted in the development of the Biased Target Ion Beam Deposition Technique (BTIBD). BTIBD is uniquely suited to demanding nanotechnology advancements in optical, semiconductor and magnetic device industries. (www.4waveinc.com)

Company Contact:
Trey Middleton, VP Business Development
703.787.9283x100
tmiddleton@4waveinc.com

Investor Information:
Sami Antrazi, President
703.787.9283x108
santrazi@4waveinc.com