Cellular Technical Services Company Announces Sale of 2,100,000 Shares of Common Stock.

NEW YORK -- Cellular Technical Services Company, Inc. (OTCBB:CTSC), today announced that it had agreed to sell 2,100,000 shares of its Common Stock, or approximately 47% of its outstanding Common Stock, to a group of investors. CTS has received payment for 1,900,000 of such shares and expects to receive payment for the balance within two weeks. Of such shares 1,400,000 were sold to Frost Gamma Investments Trust, which is controlled by Phillip Frost. Dr. Frost is the Chairman of the Board of Directors, Chief Executive Officer and founder of IVAX Corporation. He was Chairman of the Department of Dermatology at Mt. Sinai Medical Center of Greater Miami, Miami Beach, Florida from 1972 to 1990. Dr. Frost was Chairman of the Board of Directors and a founder of Key Pharmaceuticals, Inc. He is also Chairman of the Board of Directors of IVAX Diagnostics, Inc. (diagnostic reagent kits), a subsidiary of IVAX. He is a director of Northrop Grumman Corporation (aerospace), Continucare Corporation (healthcare) and Ladenburg Thalmann Financial Services, Inc. (securities brokerage). He is a member of the Board of Trustees of the University of Miami and a member of the Board of Governors of the American Stock Exchange. He is a trustee for Scripps Research Institute.

Stephen Katz, Chief Executive Officer of CTS, stated "the prominence of the investor group and the infusion of cash onto CTS's Balance Sheet should allow CTS to broaden its vistas with respect to future business opportunities." Additionally, the transaction "carves out" for one year CTS's ownership in True Position for the public shareholders, and not for the benefit of the new investor group.

The investors have the right by agreement to elect three of six directors of CTS. Dr. Frost and Richard C. Pfenniger, Jr. have been elected as directors of CTS. Barry Beil has resigned from the CTS Board. We thank him for his dedicated service and support.

Special Note Regarding Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results for CTS or its affiliates to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include but are not limited to: CTS' ability to acquire or develop future business operations; the uncertainty of its ability to gain acceptance of any new products or services, if such are acquired or developed; the competition for business opportunities and the ability of competitors who are larger or better financed than CTS or acquire such opportunities in lieu of CTS; vulnerability to specific factors such as technological obsolescence, limited customer base and manufacturing difficulties, all of which may be dependent upon the nature of any specific acquisition or development by CTS; dependence on key personnel; the availability of financing; and other risks described in CTS' filings with the Securities and Exchange Commission.