Wireless Xcessories Group, Nasdaq: WIRX Reports Third Quarter Results - Net Sales Up 24%, Net Income Up 56%, Per Share Earnings Up 100%

Business Wire, Nov 9, 2004

HUNTINGDON VALLEY, Pa. -- Wireless Xcessories Group, Inc. (Nasdaq:WIRX), a nationwide distributor of over 3,000 accessories for cellular phones and other wireless devices, announced its results for the third quarter ended September 30, 2004.

The Company reported net income of $259,000 or $.06 per share for the quarter ended and $665,000 or $.14 per share for the nine months ended September 30, 2004, compared to net income of $166,000 or $.03 per share and a net loss of $(246,000) or $(.05) per share for the same periods in 2003.

The Company continued to show solid sales growth - registering increases of 24% and 31% for the three months and nine months ended September 30, 2004 over the prior year while our selling, general and administrative increases were kept to a minimum.

Steve Rade, CEO stated, "We continue to show strong sales growth bolstered by our Industrial Strength line of accessories and the Private Labeled Industrial Strength e-commerce accessory websites we provide our dealers. We currently manage over 230 dealer websites which helps assure us that these customers will buy from us. Additionally, in mid September, 2004 we launched a new line of accessories 'The Platinum Collection' which is designed for dealers who wish to offer their customers a choice between 'Good, Better, and Best'. We are the only major distributor of our kind in America that offers 3 distinct product lines. We expect the 'Platinum Collection' to contribute earnings in our fourth quarter ending December 31, 2004 and hopefully well into 2005."

Wireless Xcessories Group, Inc. designs and distributes a range of accessories for cellular phones throughout the United States and Canada. The Company offers in excess of 3,000 items that include rechargeable batteries, personal and vehicle hands free kits, portable and vehicle antennas, in-car and travel chargers, plain and colored carrying cases, fashionable accessory faceplates and colored housings. The Company sells to dealers, distributors, communication carriers, and mass merchandisers through an in-house sales force and directly from its website, www.wirexgroup.com. Wireless Xcessories also creates customized e-commerce websites for its dealers and produces 2 product line catalogs that are circulated nationally and internationally.

This press release contains forward-looking statements. Actual results may differ materially from the forward-looking statements. All such statements may involve risk and uncertainties, including without limitation, whether the new product line will have a positive impact on sales and profits, as well as any other assertions and risks detailed in the Wireless Xcessories Group, Inc. filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ.