Antennas America Reports Third Quarter Results and the Expansion of Its Business Model.

WHEAT RIDGE, Colo.--(BUSINESS WIRE)--Nov. 22, 1999--

Antennas America, Inc. (OTC BB:ANTM) today reported results year to date and for the third quarter ended September 30, 1999. Sales for the third quarter increased 90% to $1,531,866 as compared to $807,560 for the same period last year, and the nine month year to date sales increased to $3,195,345 as compared to $2,224,112 for the same period last year. After the Company recorded a non-cash, non-recurring valuation allowance expense of $389,000 against a previously recorded deferred tax asset, the third quarter resulted in a loss of $397,532 as compared to a profit of $19,347 for the same period last year. The nine months ended September 30, 1999, resulted in a loss of $482,668 as compared to a loss of $86,822 for the same period last year. Without the $389,000 non-cash, non-recurring valuation allowance expense, the Company would have reported net losses of $7,688 and $92,824, respectively, for the three and nine months ended September 30, 1999.

"We are very pleased with the revenue growth we have achieved over the last two quarters," stated Randall P. Marx, Chief Executive Officer of the Company. "Achieving this growth is particularly rewarding for the Antennas America team as the increase was accomplished in all phases of the business with particular emphasis on local TV antenna solutions manufactured by the Company under the RCA and GE brand names for Thomson Consumer Electronics and Jasco Products, Inc., respectively."

The Company is in transition into a new business model for a higher level of advanced wireless solutions with the expansion and investment into new technologies that include a new line of microstrip antennas and the Company's involvement in the wireless internet business, both for laptop computers and home access. The Company anticipates that its earnings will be negatively impacted by the short term costs associated with its expansion, research and development, advertising and other costs related to the new commercial products and wireless services to be introduced. Additionally, in line with previously stated plans to increase the number and variety of the revenue streams, and to continue to increase its market share in the wireless market, the Company opened its new e-commerce web site in November 1999 and anticipates additional expenses associated with the advertising initiatives to drive traffic to this site both to sell the Company's existing products and to inform potential customers of the Company's total antenna solution capabilities.

As a result of the deferred tax asset valuation reserve recorded in accordance with Statement Of Accounting Standard No. 109, if the Company begins to utilize its net operating loss carryforward by generating future earnings, of which there is no assurance, there will be no corresponding income tax expense for financial statement reporting purposes until approximately $1.2 million of taxable income has been generated. Therefore, if that occurs, the Company's statement of operations will be impacted positively through the generation of future earnings of this amount, with no corresponding tax expense.

Antennas America, Inc. is a diversified company that designs, develops and manufactures unique antenna solutions for the rapidly expanding wireless communications industry at its 22,600 square foot facility leased in Wheat Ridge, Colorado. The company also provides custom antenna designs and manufacturing for Original Equipment Manufacturers (O.E.M.) and other emerging wireless communications markets. For more information about the Company and its products, please visit our web site at www.antennas.com.

This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. This Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. See the Company's Annual Report on Form 10-KSB for additional statements concerning important factors, such as market acceptability and demand for products, manufacturing costs and competition, that could cause actual results to differ materially from the Company's expectations.