Subject: [NEXTEL-1] Andrea Electronics Announces Agreement to Sell Its Aircraft Communications Products Division

From: Marcel <[email-masked]>
Date: Mon, 07 Apr 2003 19:45:17 -0400

Andrea Electronics Announces Agreement to Sell Its Aircraft Communications
Products Division

MELVILLE, N.Y., April 2 /PRNewswire-FirstCall/ --
Andrea Electronics Corporation (Amex: AND) announced today that it has entered
into an agreement to sell its Aircraft Communications Products division to a
private investor group for $3.25 million, subject to net receivables and
inventory adjustments as of the balance sheet closing date.  The Aircraft
Communications Products division is engaged in the manufacture and sale of
intercommunications systems and amplifiers primarily used on legacy military
aircraft.  For the year-ended December 31, 2002, this business segment
generated approximately $3.3 million in revenue, and total operating profit of
approximately $688 thousand.  Pursuant to the terms of the purchase agreement,
the Company will receive $2.5 million in cash by the closing date, which
management expects will be on or about April 11, 2003.  The balance of the
purchase price will be payable in equal installments over the succeeding
eleven month period.

"As previously stated, we have been exploring various options to generate
necessary working capital to fund our Anti-Noise and DSP Microphone and Audio
Software products divisions," said Christopher P. Sauvigne, President and
Chief Executive Officer of Andrea Electronics.  "We expect the sale of this
non-core business to enable Andrea to pursue existing opportunities in the
personal computer, video and audio conferencing, telematics and call center
communications markets."

As a result of this transaction, and its effect upon the Company's ability
to prepare information necessary for its year end audit, Andrea Electronics
filed a Form 12b-25 with the Securities and Exchange Commission, under Rule
12b-25, a notification of late filing of the Company's Annual Report on Form
10-K.  The Company expects that the Annual Report on Form 10-K will be filed
within the permitted extension period.  In addition, the Company will conduct
its fourth quarter and year-end conference call on April 14, 2003 at
10:30 AM EDT. Additional details regarding the conference call will be
released at a later time.

About Andrea Electronics:
Andrea Electronics Corporation designs, develops and manufactures audio
technologies and equipment for enhancing applications that require high
performance and high quality voice input.  The Company's patented Digital
Super Directional Array (DSDA(R)), patent-pending Directional Finding and
Tracking Array (DFTA(R)), patented PureAudio(R), and patented EchoStop(TM)
far-field microphone technologies enhance a wide range of audio products to
eliminate background noise and ensure the optimum performance of voice
applications.  Applications for the Company's technologies include: speech
recognition programs, Internet telephony, video/audio conferencing, automobile
PCs, home automation systems, hand-held devices and multiplayer online games,
among others.  Visit Andrea Electronics' website at
http://www.AndreaElectronics.com
or call 1-800-442-7787.

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-02-2003/0001918667&EDATE=

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