FOR IMMEDIATE RELEASE
June 11, 2001

Micronetics Reports Record FY2001 Sales and Earnings
Hudson, NH -- June 11, 2001. Micronetics Wireless, Inc. (Nasdaq/NOIZ) today reported results for its fiscal year ended March 31, 2001 ("FY2001").

For FY2001, the Company had revenues of $7,793,306, as compared to revenues of $6,205,513 for FY2000, an increase of 26%. For FY2001, the Company had income before taxes of $1,088,032 as compared to $588,311 in FY2000, an increase of 89%. For FY2001, the Company had net income of $873,232, or $.22 per share-basic and $.21 per share-diluted, as compared to net income for the prior fiscal year of $738,391, or $.19 per share-basic and $.18 per share-diluted, an increase of 18%. For FY2001, the Company incurred $214,800 of taxes, an increase of $364,800 over taxes incurred in FY2000 when the Company received a tax benefit of $150,000. The weighted average shares outstanding for FY2001 were 4,025,701-basic and 4,216,739-diluted, and for FY2000 were 3,821,352-basic and 4,201,343-diluted.

Richard Kalin, President & CEO, stated "We are pleased to report record revenues and earnings for FY2001. These results reflect significant growth in our Test Solutions and VCO Products Group. While the transition to the manufacture of integrated subassemblies in our Components and Subassemblies Group and the establishment of a $105,000 inventory obsolescence reserve hindered our gross margin, we were still able to report record earnings for FY2001. While we are seeing some impact from the current economy, our current visibility enables us to project double digit growth from each of our operating groups during the current fiscal year. Our new product pipeline is also the strongest it has been in several years. Backlog remains over 30% higher at this point than last year and we expect to operate at increased margins, due to better pricing and improved efficiencies, especially in our Components and Subassemblies Group. We currently expect FY2002 to be a record year for us."

Headquartered in Hudson, NH, Micronetics manufactures and designs innovative test equipment and test components that are used to test the strength, durability and integrity of communication signals in communications and internet infrastructure equipment. Micronetics also manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of commercial wireless and military products. Micronetics' products are used in or test communication and internet infrastructure equipment (including wireless base stations and cable modem equipment), fixed terminal, point-to-point/multi-point data radios, home networking equipment and military/aerospace platforms (satellite communications, electronic warfare and electronic counter-measures). Micronetics serves a diverse customer base, including some of the world's leading technology companies, such as Adtran, Alcatel, BAE Systems, ComDev, Datron, EADS, Ericsson, Honeywell, Hughes, L-3 Communications, Lockheed Martin, Lucent Technologies, Motorola, NEC, Nokia, Northrop Grumman, Raytheon, Teradyne and Thales.

Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to the success of the products into which the Company's products are integrated, governmental action relating to wireless communications licensing and regulation, internal projections as to the demand for certain types of technological innovation, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, future economic conditions generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report for its fiscal year ended March 31, 2001.

INCOME STATEMENT DATA
(000s omitted except per share data)
				 	Year Ended March 31,
					  2001       2000  

	Net sales			$7,793     $6,206
	Income before taxes              1,088        588	     
	Net income                         873        738        
	Net income per share:			              
	 Basic				   .22        .19  
	 Diluted			   .21        .18       
	Wgt. avg. shares outstanding:       
	 Basic				 4,026      3,821      
	 Diluted			 4,217      4,201      

BALANCE SHEET DATA
				 	     March 31,
					  2001       2000   

	Working capital			$4,931     $4,078
	Total assets			 8,224      6,873	        
	Non-current liabilities		   760        703		
	Shareholders' equity        	 6,572      5,427