  We consider type IIB string in the two plane-wave backgrounds which may be
interpreted as special limits of the AdS_3 x S^3 metric supported by either the
NS-NS or R-R 3-form field. The NS-NS plane-wave string model is equivalent to a
direct generalization of the Nappi-Witten model, with its spectrum being
similar to that of strings in constant magnetic field. The R-R model can be
solved in the light-cone gauge, where the Green-Schwarz action describes 4
massive and 4 massless copies of free bosons and fermions. We find the spectra
of the two string models and study the asymptotic density of states. We also
discuss a more general class of exactly solvable plane-wave models with reduced
supersymmetry which is obtained by adding twists in two spatial 2-planes.
