FOR IMMEDIATE RELEASE
June 22, 1998

MICRONETICS REPORTS 32% INCREASE IN FY98 INCOME BEFORE EXTRAORDINARY ITEM, ON 27% SALES GROWTH
Hudson, New Hampshire - June 22, 1998. Micronetics Wireless, Inc. (NASDAQ:NOIZ) today reported record results for its fourth quarter and fiscal year ended March 31, 1998.

For Q4 FY98, the Company had revenues of $1,333,866, a 25% increase as compared to revenues of $1,070,142 for Q4 FY97. For Q4 FY98, the Company had net income of $109,725, or $.03 per share, as compared to $67,002, or $.02 per share, in Q4 FY97.

For Fiscal 1998, the Company had revenues of $4,789,278, a 27% increase as compared to revenues of $3,770,398 for FY97. For FY98, the Company had income before extraordinary item of $428,101, an increase of 32% as compared to income before extraordinary item for the prior year of $324,483. Net income for FY98 was $428,101, or $.13 per share, as compared to net income for FY97 of 395,470, or $.12 per share. FY97 net income included a $70,987, or $.02 per share, gain on insurance settlement. The weighted average shares outstanding for Fiscal 1998 were 3,403,688 primary and fully-diluted, and for Fiscal 1997 they were 3,379,753 primary and fully-diluted.

Richard Kalin, CEO, stated "We launched several new pieces of wireless testing equipment during FY98 and are encouraged by the initial results from the introduction of these products. With our increased focus on this market, we are optimistic that we will achieve continuing increases in this product line. We also anticipate significant increases in our line of voltage controlled oscillators."

Micronetics Wireless is a manufacturer of RF building block components, subassemblies and wireless testing equipment designed to support OEM's and wireless service providers to manufacture, deliver and maintain high quality, cost-efficient cellular, PCS, wireless local loop and satellite communication systems.

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.

INCOME STATEMENT DATA
($000s omitted except per share amounts)

Quarter Ended March 31,
(Unaudited)

					 1998	       1997
Net Sales				1,334	      1,070
Net income				  110		 67
Earnings per share:			 $.03		.02


Year Ended March 31,

					 1998	       1997
Net Sales				4,789	      3,770
Income before extra-ordinary item	  428		324
Net income				  428		395
Earnings per share:					   
   Before extraordinary item		 $.13		.10
   Extraordinary item			   -		.02
   Net income				 $.13		.12
Wgt. avg. shares outstanding		3,404	      3,371


Balance Sheet Data

		         	       3/31/98       3/31/97
Working Capital				2,891	      2,358
Total Assets				5,214	      4,648
Non-current liabilities			  909		955
Shareholders' equity			3,585	      3,013