ADDvantage Technologies Group, Inc. Reports First Quarter Results.

Business Editors

BROKEN ARROW, Okla.--(BUSINESS WIRE)--Feb. 7, 2003

ADDvantage Technologies Group, Inc. (OTCBB:ADDM) today announced its financial results for the first quarter ended December 31, 2002.

Revenues for the first quarter of fiscal 2003 rose 37.8% to $7.7 million from $5.6 million for the same quarter of fiscal 2002, primarily due to the positive results of marketing to the large cable multiple system operators and the distributor relationships we have established with Scientific Atlanta, Motorola and various other manufacturers within the last two years. Net income applicable to Common Stock for the current quarter increased 100% to $704,000, or $.07 per share, as compared to $352,000, or $.04 per share in the prior year.

"We are pleased with our strong results despite challenging market conditions," said Ken Chymiak, President of ADDvantage Technologies Group. "Our strategic relationship with Scientific Atlanta, a large inventory of both new and refurbished products and aggressive marketing at all of our divisions were the primary drivers of our performance."

ADDVANTAGE TECHNOLOGIES GROUP, INC. and its subsidiaries, TULSAT, LEE CATV Corporation, NCS Industries, Comtech Services, TULSAT-Texas, and TULSAT-Atlanta comprise an organization involved in the re-manufacture, repair and sale of previously owned cable television ("CATV") equipment and the distribution of new and surplus equipment to CATV operators. For more information, please visit the corporate web site at www.addvantagetech.com or contact the company directly at 918/251-9121.

The information in this announcement may include forward-looking statements. All statements, other statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements. These statements are subject to risks and uncertainties which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission.

                 ADDvantage Technologies Group, Inc.
                       Statement of Operations
                             (Unaudited)

                                        Three Months Ended
                                           December 31

                                       2002           2001
                                      ------         ------

Revenues                           $ 7,696,978    $5,584,729

Operating Income                   $ 1,648,604    $1,075,628

Net Income Applicable
to Common Stock                    $   704,175    $  351,780

Net Income Per  Share
of Common Stock:
Basic and Diluted                  $       .07    $      .04

Shares Used in Computing
Net Income Per Share:
Basic and Diluted                   10,004,181     9,991,716