NOIZ Micronetics, Inc. (MM)

Micronetics, Inc. (NASDAQ:NOIZ) announced today that it�s New Jersey-based subsidiary, Microwave Concepts (Micro-Con), has received $4.0 million of advanced funding from a major defense OEM for highly integrated microwave subassemblies. These subassemblies are used as part of a complex jamming system. In addition to this advanced funding, full funding of production quantities is expected within 60 days. When fully funded, the anticipated value is over $8.0 million. The anticipated period of performance on this program is approximately 24 months, with a significant portion of the award being accelerated during the current fiscal year. David Robbins, CEO of Micronetics, stated, �Based on our past performance we have developed a rapport with our customer that instills confidence that we will meet the tight timeline for performance while containing costs. The close and transparent relationship between our subsidiary and our customer played a key role in successfully initiating this program.� Tony Pospishil, General Manager of Micro-Con, added, �Our experience integrating various broadband microwave technologies, along with our commitment to quality and value, enables us to continue to participate in critical programs with our respected OEM defense partners. We are proud to be a part of the enabling technology in this advanced jamming system.� Micronetics manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Micronetics also manufactures and designs test equipment and components that test the strength, durability and integrity of communication signals in communications equipment. Micronetics serves a diverse customer base, including Aerosat, Airspan, BAE Systems, Boeing, EADS, General Dynamics, Harris, ITT, L-3 Communications, Lockheed Martin, Northrop Grumman, Qualcomm, Raytheon, Teradyne, Tektronix, Thales and UTStarcom. Additional information can be found on our website at www.micronetics.com. 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 reductions in spending by certain of our customers, our ability to operate and integrate acquired companies, our ability to manage our growth, disruptions in supply or production, increased levels of debt, our ability to protect our proprietary information, future economic conditions in our industry and 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, 2007, Micronetics� quarterly reports for the fiscal quarters ended since March 31, 2007, as well as its other filings with the Securities and Exchange Commission.