EXHIBIT 99.1


                                      NEWS

FRB | WEBER SHANDWICK
FINANCIAL COMMUNICATIONS


AT THE COMPANY:                      AT FRB|WEBER SHANDWICK
Paul Schmitt                         Jeff Wilhoit                   Lisa Fortuna
Chief Financial Officer              General Info             Analysts/Investors
(630) 860-3560                       (312) 640-6757               (312) 640-6779

FOR IMMEDIATE RELEASE
TUESDAY, AUGUST 27, 2002

                         M~WAVE REDUCES WORKFORCE BY 22%

BENSENVILLE, ILL., AUGUST 27, 2002--M~Wave, Inc. (Nasdaq: MWAV), a value-added
service provider of high performance circuit boards used in a variety of digital
and high frequency applications, announced that it has eliminated approximately
35 jobs or about 22% of its work force. The cuts are a result of the downturn in
the telecom industry and the consolidation of the Bensenville facilities into
the West Chicago campus.

         "The downturn in the telecom industry continues to adversely affect our
revenue base," said Joseph A. Turek, Chairman and Chief Executive Officer. "This
decision, while unfortunate, is a necessary first step in right-sizing the
company. The current business climate served to accelerate our plan to
consolidate our Bensenville facilities into our new West Chicago campus, a
process which we had originally planned to complete in 2004. The consolidation
is already underway, and we expect to be completed by the end of 2002.

         "The efficiencies we will realize from this consolidation will move us
closer to our goal of reducing our break-even point to approximately $5,000,000
per quarter," added Turek. "We believe that long-term industry fundamentals
remain solid, and as the markets recover we are anticipating growth and
profitability in 2003.

         M~Wave offers Supply Chain Management to its customers under its
program of Virtual Manufacturing. M~Wave has signed nine new agreements, which
the Company expects to represent approximately $10,000,000 in revenues for 2002.
Virtual Manufacturing contractually supplies the printed circuit needs of our
customer by managing the complete procurement process. We utilize a global base
of suppliers that allows our customers to benefit from lower worldwide
manufacturing prices. We deliver products when the customer needs them through
either consignment inventory control or just-in-time programs. And, we reinforce
our quality policy with a money-back guarantee for boards and components. To our
knowledge, no other company offers the price, delivery, and quality benefits of
our Virtual Manufacturing program.

ABOUT M~WAVE:

         Established in 1988 and headquartered in the Chicago suburb of
Bensenville, Ill., M~Wave is a value-added service provider of high performance
circuit boards. The Company's products are used in a variety of
telecommunications and industrial electronics applications. M~Wave services
customers like Lucent Technologies and Motorola, Inc. with its patented bonding
technology, Flexlink II(TM) and its supply


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FRB | Weber Shandwick Worldwide serves as financial relations counsel to this
company, is acting on the company's behalf in issuing this bulletin and
receiving compensation therefor. The information contained herein is furnished
for information purposes only and is not to be construed as an offer to buy or
sell securities.




M-WAVE, INC.
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chain management program called Virtual Manufacturing. The Company trades on the
Nasdaq National market under the symbol "MWAV". Visit the Company on its web
site at www.mwav.com.

         This news release contains predictions, estimates and other
forward-looking statements that involve a number of risks and uncertainties.
While this outlook represents our current judgement on the future direction of
the business, such risks and uncertainties could cause actual results to differ
materially from any future performance suggested above. Factors that could cause
actual results to differ include the following: the Company's relationship and
contractual arrangements with key customers; dependence on suppliers and
subcontractors for circuit board components; successful award of contracts under
bid; a highly competitive environment; design and production delays;
cancellation or reductions of contract orders; effective utilization of existing
and new manufacturing resources; pricing pressures by key customers; and other
factors detailed in the Company's Securities and Exchange Commission filings.


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