FOR IMMEDIATE RELEASE
June 22, 1999

>MICRONETICS REPORTS FY99 RESULTS; PROJECTS RECORD REVENUES FOR FY2000
Hudson, NH - June 22, 1999. Micronetics Wireless, Inc. (NASDAQ:NOIZ) today reported results for its 1999 fiscal year ended March 31, 1999 ("FY99").

For FY99, the Company had revenues of $4,547,087, as compared to revenues of $4,789,278 for FY98. For FY99, the Company had net income of $276,171, or $.08 per share, as compared to net income for the prior fiscal year of $428,101, or $.13 per share. The weighted average shares outstanding for FY99 were 3,577,293 basic and diluted, and for FY98 they were 3,403,688 basic and diluted.

Richard S. Kalin, President & CEO, stated "In FY99, while revenues increased in three of our product lines, we experienced a significant decline in our test equipment line. This was due in large part to a slow-down in sales to Asia, combined with the fact that many companies delayed test equipment purchases pending finalization of standards for the next generation of wireless technologies (3G). We are projecting increased revenues this year, especially in our test equipment line. Our company-wide backlog is presently at a record level."

"We are also in the process of completing integration of two acquisitions completed in Q4 FY99. The addition of Microwave & Video Systems and Vectronics Microwave will not only bring new product offerings to our microwave component line, it should enable us to report growth in earnings from synergies created by the addition of these two companies. We expect to see the impact of this during FY2000."

"The 5% decline in revenues and the one-time expenses related to the integration of these acquisitions resulted in a year-to-year earnings decline. Based on our current bookings activities and integration of these two acquisitions, I am optimistic that the financial performance for FY2000 will result in record revenues and earnings."

Micronetics Wireless is a manufacturer of RF components, subassemblies and wireless testing equipment designed to support OEM's and wireless service providers to manufacture and maintain high quality, cost-efficient cellular, PCS, wireless local loop and satellite communication systems. Micronetics, itself and through its subsidiaries, Microwave & Video Systems, Inc. and Vectronics Microwave Corp., designs and manufactures switches, switch filter assemblies and other control components and subassemblies for use in radar, electronic counter-measure, guidance, receiver, radar simulation and telecommunication applications.

Statements which are not historical facts, including statements about the Company's confidence and strategies and its expectations about new and existing products, technologies and opportunities, market and industry segment growth, demand and acceptance of new and existing products are forward looking statements that involve risks and uncertainties. These risks include, but are not limited to, product demand and market acceptance risks; the impact of competitive products and pricing; the results of financing efforts; the loss of any significant customers of any business; the effect of the Company's accounting policies; the effects of economic conditions and trade, legal, social, and economic risks, such as import, licensing, and trade restrictions; the results of the Company's business plan and the impact on the Company of its relationship with its lender.