COMMISSION FILES INSIDER TRADING ACTION AGAINST MANU B. SHRIVASTAVA

The Securities and Exchange Commission (“SEC”), Robert S. Mueller,
     III, United States Attorney for the Northern District of California,
     and Bruce J. Gebhardt, Special Agent in Charge of the Federal Bureau
     of Investigation in San Francisco, today announced the filing of
     separate civil and criminal insider trading actions against Manu B.
     Shrivastava, a former engineer at nVIDIA Corporation.  Both actions
     allege that Shrivastava illegally traded on inside information about
     nVIDIA, earning $446,724.    The U.S. Attorney also seeks civil
     forfeiture of  Shrivastava’s insider trading profits, and has
     executed a seizure warrant on a San Francisco brokerage account.
          
               Both actions allege that in March 2000, while still
     employed by nVIDIA, Shrivastava  engaged in illegal insider trading
     when he purchased $30,825 worth of nVIDIA call options based on his
     advance knowledge that the Company had just won a lucrative contract
     with Microsoft Corporation.  Within days, the price of nVIDIA stock
     soared as the market learned of the contract, and Shrivastava sold
     his options, realizing unlawful profits of  $446,724.  Shrivastava,
     age 31, lives in San Jose, California.  nVIDIA is based in Santa
     Clara, California.
          
          According to today’s filings, on Sunday, March 5, 2000, nVIDIA
     and Microsoft entered into an agreement providing for nVIDIA to
     design and manufacture the 3D computer graphics and multimedia sub-
     system for Microsoft’s new video game console, the “X-Box.”  That
     evening, nVIDIA’s president and chief executive officer sent an email
     entitled “X is Ours!” to all nVIDIA employees, informing them of the
     agreement and its huge revenue impact on nVIDIA.  The next morning,
     March 6, nVIDIA’s vice president of marketing sent an email to all
     nVIDIA employees entitled “xbox shhhhhh...”, reminding them that news
     of the X-Box agreement was confidential.
          
          On the morning of  March 6, 2000, as alleged in the filings,
     after reading both emails, Shrivastava began to acquire short-term
     nVIDIA call option contracts through an Internet brokerage account.
     In all, he spent $30,825 acquiring 100 nVIDIA option contracts.
          
          From March 7 through March 9, as rumors about the X-Box contract
     circulated on the Internet and in the press, nVIDIA’s share price
     soared 71.4% to a March 9 closing price of $100.30.  After Microsoft
     announced the X-Box agreement to the public on the morning of March
     10, nVIDIA shares rose an additional 17.6% to close that day at $118,
     more than twice the closing share price on the day that Shrivastava
     made his options purchases.   Shrivastava sold all 100 nVIDIA call
     option contracts between March 7 and March 10, realizing illegal
     profits of $446,724.
          
          In its civil complaint filed in the United States District Court
     for the Northern District of California, the SEC charges Shrivastava
     with securities fraud based on his illegal insider trading.  The
     SEC’s complaint seeks disgorgement of Shrivastava’s illegal profits,
     plus interest, and civil monetary penalties of up to three times the
     amount of these profits.  The complaint also seeks an injunction
     against Shrivastava prohibiting his future violations of the
     securities laws.
          
          The criminal complaint charges Shrivastava with one count each
     of securities fraud and wire fraud, each relating to his illegal
     trading in nVIDIA securities.   The maximum statutory penalty for
     securities fraud is ten years’ imprisonment; wire fraud carries a
     penalty of up to five years’ imprisonment.  If convicted, Shrivastava
     may also be fined as much as $500,000.   In addition, Shrivastava may
     be required to forfeit $477,549, the amount seized by today’s action.
     However, any sentence following conviction would be dictated by the
     Federal Sentencing Guidelines, which take into account a number of
     factors, and would be imposed in the discretion of the Court.  As
     with all defendants, Shrivastava must be presumed innocent unless and
     until convicted.
          
          Helane L. Morrison, District Administrator for the SEC’s San
     Francisco District Office, said:  “Innocent investors can’t compete
     fairly with employees who trade on inside information.  Here, the
     people on the other side of Shrivastava’s options purchases were
     swindled out of hundreds of thousands of dollars by his use of inside
     information about the X-Box contract.  Employees in Silicon Valley
     and elsewhere need to understand that, in addition to bringing civil
     actions to enforce the insider trading laws, we will continue to
     refer appropriate cases to the U.S. Attorney’s Office for criminal
     prosecution.”
          
          Bruce J. Gebhardt, Special Agent in Charge of the San Francisco
     Office of the FBI, said: “The rapid economic growth of the Silicon
     Valley has led to increased fraud opportunities in securities
     matters.  Consequently, fraud involving the high tech and Internet
     industries of the Silicon Valley is considered a high investigative
     priority of the San Francisco Office of the FBI, as evidenced by a
     number of continuing investigations.”
          
          United States Attorney Robert S. Mueller, III said:  “This case
     should send a strong signal to those who would take unfair advantage
     of their privileged positions in Silicon Valley.  Not only will we
     aggressively prosecute insider trading cases, but we also will take
     swift action to seize trading profits.”
          Today’s charges are the result of investigations by the San
     Francisco offices of the SEC and the Federal Bureau of Investigation.
     Craig D. Martin handled the SEC investigation.   Assistant U.S.
     Attorney William H. Kimball will prosecute the criminal case and
     Stephanie M. Hinds will handle the forfeiture proceeding.
          
          The SEC, FBI and U.S. Attorney’s Office acknowledge the
     assistance of the American Stock Exchange in this matter.
          
     Press inquiries to the U.S. Attorney’s Office should be directed to:
          
          Assistant U.S. Attorney Leslie R. Caldwell (415) 436-6778
     
     Inquiries to the FBI should be directed to:
          
          Media Representative Special Agent Andrew Black (415) 553-7450
     
     Press inquiries to the Securities and Exchange Commission should be
     directed to:
          
          Robert L. Mitchell, Assistant District Administrator  (415) 705-
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