Filing for New H-1 for 2000

It has come to my attention that the cap for H1 visas for 2000 has been met. What happens to graduating students whose F1 visa expires upon graduation and they have done OPT?

I\'m currently in this situation and I have an employer who has offered me a job. I have explained the H1 process to them and have told them about the cap.

Please Help!!!!