Exhibit 99.1

FOR IMMEDIATE RELEASE
AMEX: WOC

WILSHIRE ENTERPRISES, INC. ANNOUNCES NEW INDEPENDENT ACCOUNTANTS

JERSEY CITY, N.J., July 7, 2004 - Wilshire Enterprises, Inc. ("Wilshire" or the
"Company") (Amex: WOC) announced today that its Audit Committee has named J.H.
Cohn LLP ("JH Cohn") as Wilshire's Independent Registered Public Accounting
Firm. The Audit Committee of the Wilshire Board of Directors made the
appointment following an evaluation of several Independent Registered Public
Accounting Firms that were capable of serving the Company.

"JH Cohn is a highly respected firm with an outstanding reputation for providing
quality independent audit services in the public and real estate sectors,"
stated Sherry Wilzig Izak, Chairman of Wilshire. "The Audit Committee was
impressed with JH Cohn's focus on middle market companies and feels that JH
Cohn's commitment to their clients' success sets them apart from other
accounting firms. Additionally, their extensive experience in handling issues
unique to the real estate industry will provide an added benefit to Wilshire."

Dan Pryor, the Company's President and Chief Operating Officer as of July 1,
2004, commented: "We are very pleased to have JH Cohn as the Company's new
Independent Registered Accounting Firm, a complement to Wilshire that is in
keeping with our near-term objective to transform the Finance Department while
minimizing costs where feasible. We currently expect that contemplated changes
to the Finance Department will occur during 2004, which will include both the
termination and hiring of employees, with the objective to have an improved
finance function at comparable cost. We believe these actions are in the best
interest of the Company as it responds to Sarbanes Oxley financial reporting
requirements that will first apply to Wilshire next year."

ABOUT WILSHIRE ENTERPRISES:
Wilshire is an American Stock Exchange listed corporation engaged primarily in
the acquisition, ownership and management of real estate investments in the
United States including Arizona, Florida, Georgia, New Jersey and Texas.


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FORWARD-LOOKING STATEMENT:

The non-historical statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to several risks and
uncertainties that could cause actual results to differ materially from such
projections. Such risks and uncertainties include uncertainties inherent in any
effort to reorganize an internal department, including expenses that may arise
from personnel changes and the difficulties inherent in complying with Section
404 of the Sarbanes-Oxley Act, as well as other risks and uncertainties
disclosed in the Company's 2003 Form 10-K filed with the Securities and Exchange
Commission.

For stockholder inquiries: please contact Dan Pryor at 201-420-2796.
SOURCE: Wilshire Enterprises (WOC)


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