CLSTE Cellstar (MM)

CellStar Corporation Delays Filing Its Quarterly Report on Form 10-Q CARROLLTON, Texas, April 11 /PRNewswire-FirstCall/ -- CellStar Corporation (NASDAQ:CLSTE) today announced that it is extending by 5 days the filing of its Quarterly Report on Form 10-Q for the quarter ended February 28, 2005, with the Securities and Exchange Commission, while it continues to resolve accounting issues related to certain accounts receivable and revenues in its Asia Pacific Region. As previously announced, the Company has not yet filed its Annual Report on Form 10-K for the year ended November 30, 2004, due also to the continued review of its Asia Pacific Region. Until the results of the review of the accounts receivable and revenues in the Asia Pacific Region are known, the Company will be unable to complete its consolidated financial statements, related information and disclosures and management's report on internal control over financial reporting for inclusion in the Form 10-K for fiscal 2004 and consolidated financial statements and related information and disclosures for inclusion in the Form 10-Q for the first quarter of 2005. About CellStar Corporation CellStar Corporation is a leading global provider of value added logistics and distribution services to the wireless communications industry, with operations in the Asia-Pacific, North American and Latin American Regions. CellStar facilitates the effective and efficient distribution of handsets, related accessories and other wireless products from leading manufacturers to network operators, agents, resellers, dealers and retailers. CellStar also provides activation services in some of its markets that generate new subscribers for its wireless carriers. For the year ended November 30, 2003, the Company reported revenues of $1.8 billion. Additional information about CellStar may be found on its website at http://www.cellstar.com/ . This news release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. A variety of risk factors, including the Company's ability to implement its business strategies, to maintain its channels of distribution, continue to secure an adequate supply of competitive products on a timely basis and on commercially reasonable terms, improve its operating margins, secure adequate financial resources, maintain an adequate system of internal control, comply with debt covenants, and continually turn its inventories and accounts receivable, as well as changes in foreign laws, regulations and tariffs, new technologies, system implementation difficulties, competition, handset shortages or overages, terrorist acts, a decline in consumer confidence and continued economic weakness in the U.S. and other countries in which the Company does business and other risk factors, are discussed in the Company's Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q. Any one, or a combination of these risk factors could cause CellStar's actual results to vary materially from anticipated results or other expectations expressed in the Company's forward-looking statements. DATASOURCE: CellStar Corporation CONTACT: Sherrian Gunn of CellStar Corporation, +1-972-466-5031 Web site: http://www.cellstar.com/

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