For more information,
                               contact:                Beth Freeman
                                                       Director of Marketing
                                                       bfreeman@firstwave.net
                                                       770-431-1265


                  FIRSTWAVE COMPLETES PREFERRED STOCK OFFERING
                       PRIVATE PLACEMENT PROVIDES $700,000

ATLANTA, GA (June 18, 2004) - Firstwave(R) Technologies, Inc. (NASDAQ: FSTW), a
leading provider of industry-focused CRM solutions, today announced that it has
completed the sale and issuance of 7,000 shares of Series D Preferred Stock at a
purchase price of $100 per share. The Series D Preferred Stock is convertible
into common stock of the Company at a conversion price of $3.00 per share,
representing a 20% premium to the market price per share of the Company's common
stock as of June 17, 2004. A limited number of investors participated in the
private placement, which generated $700,000 in gross proceeds. There were no
discounts or commissions payable by the Company in connection with this sale.

The Company intends to use the proceeds of this private placement for working
capital and general corporate purposes including further marketing and sales
efforts in connection with its vertical market strategy in the Sports and
Entertainment industry. The Company is continuing to secure key customers and
partners in the Sports market and the Company believes that these funds will
allow the Company to accelerate its efforts in that market.

"We are privileged to have accredited investors placing their trust and
confidence in Firstwave and our future by participating in this private
placement at a premium to market," said Richard T. Brock, Firstwave chairman and
CEO. "We feel this additional capital will help us to further establish our
presence in the Sports market in which we are already experiencing significant
traction."


ABOUT FIRSTWAVE

Firstwave(R) Technologies, Inc. is a global provider of strategic CRM solutions
specifically designed for the Sports and High Tech industries. Firstwave's
solutions provide companies with fit-to-purpose features that optimize how
companies win, maintain and grow customer and organizational relationships while
improving the overall customer experience. With 20 years of experience in CRM,
Firstwave's legacy of CRM best practices and Customer-First Commitment has
earned the Company numerous industry awards and accolades. Firstwave is
headquartered in Atlanta, Georgia. For more information, visit the Company's web
site at WWW.FIRSTWAVE.NET or call 1-800-540-6061.



###

NOTE: THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE
MEANING OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. SUCH FORWARD-LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED
BY WORDS SUCH AS WILL, EXPECT, MAY, INTENDS, BELIEVE, ANTICIPATES, PLANS, SHOULD
AND WORDS OF SIMILAR MEANING. FIRSTWAVE TECHNOLOGIES, INC. (THE "COMPANY") NOTES
THAT THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE BASED ON
THE CURRENT EXPECTATIONS AND BELIEFS OF THE MANAGEMENT OF FIRSTWAVE AND ARE
SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM ANY SUCH STATEMENT, SUCH AS RISKS AND UNCERTAINTIES
DUE TO MARKET DEMAND, COMPETITION AND TECHNOLOGICAL DEVELOPMENTS, THE COMPANY'S
CAPITAL REQUIREMENTS AND OTHER LIQUIDITY CONCERNS, THE COMPANY'S ABILITY TO
CONTINUE TO COMPLY WITH NASDAQ LISTING REQUIREMENTS, AND THE SIZE, TIMING, AND
CONTRACTUAL TERMS OF ORDERS. FOR A MORE DETAILED DISCUSSION OF THESE AND OTHER
RISKS AND UNCERTAINTIES RELATING TO THE COMPANY'S BUSINESS, OPERATIONS AND
FINANCIAL CONDITION, PLEASE REFER TO THE COMPANY'S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION, INCLUDING ITS ANNUAL REPORT ON FORM 10-K FOR THE YEAR
ENDED DECEMBER 31, 2003, UNDER THE CAPTION "CERTAIN FACTORS AFFECTING FORWARD
LOOKING STATEMENTS," WHICH DISCUSSIONS ARE INCORPORATED HEREIN BY THIS
REFERENCE. THE COMPANY DOES NOT ASSUME, AND EXPRESSLY DISCLAIMS, ANY DUTY OR
OBLIGATION TO UPDATE ANY OF THE INFORMATION PRESENTED HEREIN.


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