Press Release     Source: NeWave, Inc.

NeWave  Announces  Amended  Financial  Results  for  First  Quarter  2004
Friday  May  28,  4:48  pm  ET

LONG  BEACH, Calif., May 28 /PRNewswire-FirstCall/ -- NeWave, Inc. (OTC Bulletin
Board: NWAV - News) a provider of membership-based online wholesale products and
services  through  its  subsidiary  OnlineSupplier.com,  announced its financial
results for the quarter ended March 31, 2004. The Company's complete results are
available  on  its  Form  10Q-SB/A  for  the  period  ending  March  31,  2004.

NeWave,  Inc.  reported  revenue of $1,046,388 and a net loss of ($1,317,366) or
($0.15)  per  share  for  the  quarter ended March 31, 2004 on basic and diluted
weighted  average  shares  outstanding of 8,818,846. Net loss was due largely to
significant  non-cash charges recorded in the quarter for the issuance of common
stock  for  services.

About  NeWave,  Inc.

NeWave,  Inc.  through  its  wholly-owned subsidiary Onlinesupplier.com offers a
comprehensive  line  of  products  and  services at wholesale prices through its
online  club  membership.  Additionally,  NeWave's  technology allows both large
complex  organizations  and  small stand-alone businesses to create, manage, and
maintain  effective  website  solutions  for  e-commerce. To find out more about
NeWave  (OTC  Bulletin  Board:  NWAV  -  News),  visit  our  websites  at
www.newave-inc.com  or  www.onlinesupplier.com.  The  Company's public financial
information  and  filings  can  be  viewed  at  www.sec.gov.

Forward  Looking  Statements

This release contains forward-looking statements, including, without limitation,
statements  concerning  our  business  and possible or assumed future results of
operations. Our actual results could differ materially from those anticipated in
the  forward-looking  statements  for  many  reasons  including:  our ability to
continue  as  a  going  concern,  adverse  economic changes affecting markets we
serve;  competition  in  our  markets  and industry segments; our timing and the
profitability  of  entering  new  markets; greater than expected costs, customer
acceptance  of  our  products  and  services  or  difficulties  related  to  our
integration  of the businesses we may acquire; and other risks and uncertainties
as  may  be  detailed  from  time  to  time  in our public announcements and SEC
filings.  Although  we believe the expectations reflected in the forward-looking
statements  are  reasonable,  they relate only to events as of the date on which
the statements are made, and our future results, levels of activity, performance
or  achievements may not meet these expectations. We do not intend to update any
of  the  forward-looking  statements  after the date of this document to conform
these  statements to actual results or to changes in our expectations, except as
required  by  law.

Source:  NeWave,  Inc.