FOR IMMEDIATE RELEASE: February 14, 2003

Micronetics Announces Increased Net Income For FY2002 to $453,397 or $0.10 Per Share
Hudson, NH -- (BUSINESS WIRE) -- February 14, 2003 -- Micronetics, Inc. (Nasdaq/NOIZ) reported that it discovered an error in the calculation of its net income for its fiscal year ended March 31, 2002 ("Fiscal 2002"). It was related to the determination of acquisition costs in its acquisition of Enon Microwave, Inc. which occurred on March 26, 2002, five days before the end of Micronetics' fiscal year ended March 31, 2002. The error, which was identified by the Company, resulted in an after-tax understatement of net income of $118,635 or $.03 per share-basic, $.02 per share-diluted, for Fiscal 2002. As a result, Micronetics earned $453,397, or $.11 per share-basic, $.10 per share-diluted, for Fiscal 2002, as compared to $334,762, or $.08 per share-basic and diluted, as earlier reported.

This increase in net income for FY2002 had no cash impact on Micronetics' financial position. No earnings impact will occur as a result of this change in the financial statements for Micronetics' current fiscal year ending March 31, 2003.

Micronetics, operating through its Defense Electronics Group, designs and manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Operating through its Test Solutions and VCO Products Groups, Micronetics designs and manufactures test equipment and components that are utilized in, or test the strength, durability and integrity of communication signals in, military or communications equipment or systems. Micronetics serves a diverse customer base, including Aerosat, Alcatel, BAE Systems, Boeing, EADS, Ericsson, Honeywell, L-3 Communications, Lockheed Martin, Motorola, NEC, Northrop Grumman, Raytheon, Southwest Research, Teradyne, Tektronix and Thales. Micronetics also operates through its wholly-owned subsidiaries, Enon Microwave, Inc., Microwave Concepts, Inc. and Microwave & Video Systems, Inc.

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, internal projections as to the demand for certain types of equipment, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, access to financial resources, future economic conditions generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report on Form 10KSB/A for its fiscal year ended March 31, 2002.

Contact
David Robbins, President
Micronetics, Inc.
(603) 883-2900 x 317

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