Wireless Age Announces Record Revenues for 2007

TORONTO, ONTARIO, Mar 31 (MARKET WIRE) --
Wireless Age Communications, Inc. (OTCBB: WLSA) announced its fourth
quarter and audited results for 2007 today, reporting revenues of
$10,886,972 and $32,682,756, respectively.

Revenues during the fourth quarter of fiscal 2007 were $10,886,972
compared to $6,936,581 in the comparative period a year ago, representing
an increase of 57%. Fourth quarter continuing operations earnings before
interest, taxes, amortization and depreciation ("EBITDA") was 91% higher,
at $757,047, than $395,484 a year ago. Pre-tax continuing operations
earnings were $634,109 in the fourth quarter of 2007 compared to a loss
of $1,091,430 a year ago and earnings attributable to common shareholders
(after deemed dividends) were $455,804 in the most recent current quarter
compared to a loss of $6,557,511 during the fourth quarter of fiscal 2006.

Consolidated revenues from continuing operations were $32,682,756 during
fiscal 2007 compared to $24,127,026 during fiscal 2006. The company
posted $28,327,665 in product sales revenues and $4,355,091 in
commissions and residual revenues during fiscal 2007, compared to
$20,511,694 and $3,615,332, respectively, during fiscal 2006. Retail
operating segment revenues grew from $13,875,641 in 2006 to $17,742,726
during fiscal 2007 representing growth of over 27%. Commercial operating
segment revenues from continuing operations grew from $10,251,385 during
fiscal 2006 to $14,940,030 in 2007, representing a 46% increase.

The fiscal 2007 operating results included a non-cash $2,515,767 deemed
dividend representing the fair value of a incremental beneficial
conversion feature associated with a 2006 financing. During fiscal 2006
the Company recorded a similar deemed dividend of $3,848,714. The
earnings from continuing operations during fiscal 2007 totalled $575,100
and earnings from discontinued operations were $1,642,319. The loss
attributable to common shareholders during fiscal 2007 was $298,348
substantially improved from $9,927,265 during fiscal 2006.

The operating results of mmwave Technologies Inc. and Knowlton Pass
Electronics Inc. have been classified as discontinued operations and the
earnings recorded represent the disposal of entities with significant
shortfalls in net assets.

John Simmonds, Wireless Age's CEO commented, "We're pleased with the 2007
turnaround. The latter half of the year and in particular the fourth
quarter is indicative of the results of our efforts to clean up matters.
The outlook for the Company is very bright and we now have all the
historical problems behind us. Our plan now is to focus on several
opportunities that have been identified that can make Wireless Age a
significant participant in our market place."

About Wireless Age

Wireless Age Communications, through its 99.7% owned subsidiary, Wireless
Age Communications Ltd., is in the business of operating retail cellular
and telecommunications outlets in cities in western Canada. Through its
other wholly owned subsidiary, Wireless Source Distribution Ltd., the
company distributes two-way radio products, prepaid phone cards, wireless
accessories and various battery and ancillary electronics products in
Canada.

Note: This press release contains "forward looking statements" as defined
in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on currently available competitive,
financial and economic data and management's views and assumptions
regarding future events. Such forward-looking statements are inherently
uncertain. Wireless Age Communications, Inc. cannot provide assurances
that the matters described in this press release will be successfully
completed or that the company will realize the anticipated benefits of
any transaction. Actual results may differ materially from those
projected as a result of certain risks and uncertainties, including but
not limited to: global economic and market conditions; the war on
terrorism and the potential for war or other hostilities in other parts
of the world; the availability of financing and lines of credit;
successful integration of acquired or merged businesses; changes in
interest rates; management's ability to forecast revenues and control
expenses, especially on a quarterly basis; unexpected decline in revenues
without a corresponding and timely slowdown in expense growth; the
company's ability to retain key management and employees; intense
competition and the company's ability to meet demand at competitive
prices and to continue to introduce new products and new versions of
existing products that keep pace with technological developments, satisfy
increasingly sophisticated customer requirements and achieve market
acceptance; relationships with significant suppliers and customers; as
well as other risks and uncertainties, including but not limited to those
detailed from time to time in Wireless Age Communications, Inc. SEC
filings. Wireless Age Communications, Inc. undertakes no obligation to
update information contained in this release. For further information
regarding risks and uncertainties associated with Wireless Age
Communications, Inc.'s business, please refer to the risks and
uncertainties detailed from time to time in Wireless Age Communications,
Inc.'s SEC filings.

Contacts:
Wireless Age Communications, Inc.
John G. Simmonds
Chairman & CEO
(905) 833-2753 ext. 223

Wireless Age Communications, Inc.
Andrew Barwicki
Investor Relations
(516) 662-9461

For Media inquiries:
aka Communication Associates
Mike Connell
(416) 463-8913 ext. 230
Email: mconnell@akacom.com

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