Bell Industries Agrees to Sell SkyTel Division for $8.0 Million

INDIANAPOLIS, March 31, 2008 (PRIME NEWSWIRE) -- Bell Industries, Inc. (AMEX:BI)
today announced it has entered into a definitive agreement to sell its SkyTel
division to Velocita Wireless LLC for a total consideration of $8.0 million,
comprised of $3.0 million in cash at closing and deferred payments totaling $5.0
million to be paid over a period of two years. The SkyTel business is comprised
of its wireless data and messaging services, including email, interactive
two-way messaging, wireless telemetry services and traditional text and numeric
paging operations. The proceeds from the sale will be used to pay down any
outstanding balances on Bell's revolving credit facility and provide working
capital for the company's continuing operations.

Velocita Wireless LLC, a provider of custom wireless machine-to-machine data
delivery solutions for businesses and government, will continue to provide
paging and telemetry services to SkyTel's customers through SkyTel's existing
wireless network from SkyTel's headquarters in Clinton, Mississippi. The closing
of the sale, which is expected to occur in 60 to 90 days, is conditioned upon
certain customary closing conditions, including receiving regulatory approval
for the transfer of SkyTel's wireless licenses and receiving consents from
Bell's lenders and tower lease landlords.

Following the completion of the SkyTel sale, Bell will have completely divested
the assets of the SkyTel business that Bell acquired from Verizon Communications
in January 2007. In January 2008, Bell sold SkyTel's automated vehicle location
business for $7.0 million, and in September 2007 Bell sold certain stock
ownership interests in entities that owned wireless licenses for $13.5 million
(approximately $1 million of which was deferred until April 2009). The aggregate
impact of these three divestitures will result in a book loss of approximately
$4 million. Following the SkyTel sale, Bell will have a total of approximately
$6 million in deferred consideration, which will be received over the next two
years, and anticipated net debt of approximately $13 million to $15 million,
including $11 million in long-term secured convertible debt.

"The sale of the remainder of the SkyTel division is another important step in
Bell's process of solidifying its balance sheet and improving cash flows," said
Kevin J. Thimjon, president and chief financial officer of Bell. "This will also
allow Bell to focus all of its attention on continuing to reduce costs and
improve the cash flows of its two remaining businesses."

About Bell Industries

After completion of the sale of the SkyTel division, Bell Industries will be
comprised of two operating units, Bell's Technology Solutions business and its
Recreational Products Group. The company's Technology Solutions business offers
a comprehensive portfolio of customizable and scalable technology solutions
ranging from managed technology services to reverse logistics and
mobile/wireless solutions. The Recreational Products Group is a wholesale
distributor of aftermarket parts and accessories for the recreational vehicles
and other leisure-related vehicle markets, including marine, snowmobile, cycle
and ATV.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements, including, but not limited to, completing the Velocita
transaction in the next 45-90 days, receiving regulatory approval for the
transfer of SkyTel's wireless licenses and receiving consents from Bell's
lenders and tower lease landlords, solidifying the balance sheet, and reducing
costs and improving cash flows, are based upon our current expectations and
speak only as of the date hereof. Actual results may differ materially and
adversely from those expressed in any forward-looking statements as a result of
various factors and uncertainties, including uncertainties as to the nature of
the industry, including changing customer demand, the impact of competitive
products and pricing, dependence on existing management and general economic
conditions. Bell Industries' Annual Report on Form 10-K, recent and forthcoming
Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other
SEC filings discuss some of the important risk factors that may affect the
company's business, results of operations and financial condition. Management
undertakes no obligation to revise or update publicly any forward-looking
statements for any reason.

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CONTACT: Bell Industries, Inc.
Kevin Thimjon, President and Chief Financial Officer
317-704-6000