M-Wave's SVB Financing Replaced

M-Wave, Inc. (NASDAQ: MWAV), an
international electronic procurement services and virtual manufacturing
firm announced that an affiliate of a private equity group and current
investor had purchased the revolving financing note from Silicon Valley
Bank and has informed us that it intends to waive defaults, and continue
its financing to facilitate restructuring of the Company.

"I am gratified at the vote of confidence our largest investors have shown
in removing an impediment to our restructuring by paying off a Bank not
suited to our mutual goals, allowing us time to not only reformulate our
strategy, but granting our Board the flexibility to hire well-qualified
advisory and investment banking professionals to secure the mission of
increased shareholder value moving forward," stated Jim Mayer.

About M-Wave, Inc.

M-Wave provides supply chain services and sources printed circuit boards,
custom electronic components and direct broadcasting satellite parts
domestically and from Asia. M-Wave's Electro-Mechanical Group division
(EMG) sources high-performance printed circuit boards and custom and
engineered electronic components from original equipment manufacturers and
contract manufacturers in Asia and the US. The products are used in a wide
range of telecommunications and industrial electronics products. EMG also
offers domestic and international supply chain services and annual forecast
financing for its middle market customers. M-Wave's DBS division, d/b/a
JVI Technologies, is a virtual manufacturer and global supplier of parts to
customers in the Digital Broadcasting Satellite industry, including
DIRECTV®, DISH NETWORK®, SKY®, STAR CHOICE®, and other global
satellite providers. M-Wave entered into this business in early 2005 when
it acquired Jayco Ventures Inc. M-Wave's common stock trades on the NASDAQ
SmallCap market under the symbol MWAV. M-Wave's website is located at
www.mwav.com. M-Wave DBS, Inc.

The discussion above contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
by their nature involve substantial risks and uncertainties as described by
M-Wave's periodic filings with the SEC. Actual results may differ
materially depending on a variety of factors, including, but not limited to
the following: the achievement of M-Wave's projected operating results, the
achievement of efficient volume production and related sales revenue, the
ability to integrate acquired companies into M-Wave's existing business,
and the ability of M-Wave to identify and successfully pursue other
business opportunities. Additional information with respect to the risks
and uncertainties faced by M-Wave may be found in, and the prior discussion
is qualified in its entirety by, the Risk Factors contained in the
company's filings with the Securities and Exchange Commission including
M-Wave's Report on Form 10-KSB for the year ended December 31, 2004, its
Forms 10-QSB, and other SEC filings.





Investor contact:
Aurelius Consulting Group:
Dave Gentry
407/644-4256
Email Contact
http://www.runonideas.com/
SOURCE: M-Wave, Inc.

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