Wireless Age Communications, Inc.

Wireless Age Communications, Inc.

March 10, 2005 10:22 ET

Wireless Age Communications Designated a Threshold Security Under Regulation SHO


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WIRELESS AGE COMMUNICATIONS, INC.

OTC Bulletin Board SYMBOL: WLSA

MARCH 10, 2005 - 10:22 ET

Wireless Age Communications Designated a Threshold
Security Under Regulation SHO

TORONTO, ONTARIO--(CCNMatthews - March 10, 2005) - Wireless Age
Communications, Inc. (OTCBB:WLSA) recently became aware that its shares
have been designated a Threshold Security under Regulation SHO by the
National Association of Securities Dealers (NASD).

Under Regulation SHO an issuer is designated a Threshold Security if for
five consecutive settlement days:

- There are aggregate fails to deliver at a registered clearing agency
of 10,000 shares or more per security; and

- The level of fails is equal to at least one-half of one percent of the
issuer's total shares outstanding.

A security ceases to be a threshold security if it does not exceed the
specified level of fails for five consecutive settlement days. The fail
to deliver is commonly referred to as naked shorting, where a seller
does not own the specific security when he sells.

The current threshold list contains over 100 securities, including
several NASDAQ National Markets and Small Cap securities, some with
market capitalization in excess of $1 billion. Wireless Age applauds the
efforts by the regulators to take steps to curtail the practice of naked
short selling. The list of all corporations on the SHO list can be found
at http://www.nasdaqtrader.com/aspx/regsho.aspx.

Wireless Ages' management team also recently discovered that the
Company's stock has been listed on the Berlin Stock Exchange without
authorization from the Company. Wireless Age has engaged legal counsel
to instigate measures for immediate delisting from the Berlin Stock
Exchange. Furthermore, the Company is also taking preventative measures
by processing documentation to be delivered to all other international
exchanges in order to prevent further unauthorized listings of Wireless
Age stock. Wireless Age is one of a host of publicly-traded companies
that have been listed on the Berlin Stock Exchange without Company
authorization, and a consortium of these companies are taking similar
actions.

"We believe we're in good company having been designated on the
Threshold Security list. However, we have been extremely frustrated with
the manner in which the market has reacted to recent positive
developments. The mmwave acquisition alone increased the top line by
approximately 65% with only a 20% dilution in number of shares
outstanding, yet out market cap remains unchanged. We can only assume
that forces beyond the control of the Company continue to have an affect
on the market capitalization." said John Simmonds CEO. "I'd like to
assure the shareholders of this company that we will take all reasonable
steps that are necessary to counteract these practises."

About Wireless Age Communication Inc.

Wireless Age Communications Inc. operates three Strategic Business Units
(SBUs). They consist of Wireless Age for the retail sector, Wireless
Source covering wholesale/distribution and Wireless Works is the
Company's networks and engineering division.

Wireless Age retail outlets market and sell next generation wireless
products and services. Wireless Source distributes prepaid phone cards,
wireless accessories, land mobile radios, batteries and ancillary
electronics products throughout North America. Wireless Works operates
broadband public access and private networks and develops and deploys
consumer and commercial products for use on those networks.

mmwave is a distributor, systems integrator and representative of
wireless, microwave and fibre optic components, test systems and
subsystems. The company provides a range of technical solutions to the
Canadian and select international markets - primarily in the
manufacturing and service provider segments of the communications
industry. The company is a recognized leader in the community broadband
industry in Canada and is a member of the WiMax forum, as well as a very
active member of the Canadian Wireless Telecommunications Association.

Wireless Age's retail operations (Wireless Age) are conducted through
its 94% owned subsidiary Wireless Age Communications Ltd.
Wholesale/distribution operations (Wireless Source) are conducted
through its wholly owned subsidiaries mmwave Technologies Inc., Wireless
Source Distribution Ltd., Marlon Distributors Ltd., Prime Wireless
Corporation and the A.C. Simmonds and Sons operating division. Networks
and engineering operations (Wireless Works) are conducted through
agreements with Knowlton Pass Electronics Inc. and Maxtel Wireless Inc.

Wireless Age has an investment in Azonic Corporation which plans to
market low cost, wireless devices including cellular phones. One such
phone is designed to be located in glove boxes, first aid kits and
emergency supply packages and used for emergency purposes. Another is a
prepaid wireless phone designed to be used in the low cost and
short-term usage markets.

For additional information about Wireless Age Communications Inc. or its
subsidiaries, please visit our website at www.thewirelessage.com or
review our periodic filings with the Securities and Exchange Commission
at http://www.sec.gov.

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 we 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; our ability to
retain key management and employees; intense competition and our 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
requirement 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.'s 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.

Wireless Age Communications, Inc. (OTC Bulletin Board:WLSA)

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Wireless Age Communications, Inc.
    John Simmonds
    Chairman & C.E.O.
    (905) 833-0808 ext 223
    or
    Martin E. Janis & Company, Inc.
    Beverly Jedynak
    (312) 943-1100 ext. 12