FOR IMMEDIATE RELEASE
July 31, 2000

MICRONETICS REPORTS INCREASED Q1 REVENUES AND PROFIT
Hudson, New Hampshire -- July 31, 2000. Micronetics Wireless, Inc. (NASDAQ:NOIZ) today announced financial results for the first quarter of its fiscal year ending March 31, 2001 (FY2001).

Net sales in Q1 of FY2001 increased to $1,498,822 from $1,342,946 in Q1 FY2000, an increase of $155,876 or 11.6%. Net income increased to $130,061, or $.03 per share, as compared with $99,941, or $.03 per share, in the same quarter a year ago, an increase of $30,120 or approximately 30%. The average shares outstanding during the current year was 4,184,567 and for last year was 3,765,640.

Richard S. Kalin, President, stated AI am pleased with the results of our first quarter. Our Micronetics/Equipment Group is performing well. We completed the move of our VCO Products Group to a new facility and Micronetics/Components shipped the first units of two integrated subassembly orders booked last year. Based on current visibility, I expect the balance of the year to reflect an increased growth rate and continued increased profitability.@

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 microwave 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, repeaters, and cable modem equipment), fixed terminal point-to-point/multi-point data radios, consumer subscriber products (cellular/PCS/satellite handsets), 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, Airspan, Alcatel, Cisco, Comsat, Daimler Benz Aerospace, Datron, Ericsson, Hughes, L-3 Communications, Lockheed Martin, Lucent Technologies, Metricom, Motorola, NEC, Newbridge Networks, Northrop Grumman, Raytheon and Teradyne.

Statements which are not historical facts, including statements about the Company=s confidence and strategic and its expectations about new and existing products, technologies and opportunities, market and industry segment growth, demand and acceptance of new and exiting products are forward looking statements that involve risks and uncertainties. These 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 efforts 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 primary lender. The information in this release should be reviewed in conjunction with Micronetics=s Annual Report for its fiscal year ended March 31, 2000.

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

First Quarter Ended June 30,
				2000		  1999

Net sales			1,499		$ 1,343
Net income			130		  100
Net income per share:           .03               .03
Wgt. Avg. shares		4,185             3,766
Outstanding

BALANCE SHEET DATA

June 30, 2000   March 31, 2000

Working capital		      $ 4,251		$ 4,078
Total assets			6,976             6,873
Non-current liabilities         694               703
Shareholders= equity          	5,602             5,427