Magnetic and dielectric properties of rubber composites are controlled by using two kinds of high-permeability metal particles with different electrical conductivity (Sendust, Permalloy), and their effect on microwave absorbance has been investigated, focusing on the quasi-microwave frequency band (0.8-2 GHz). Noise absorbing sheets are composite materials of magnetic flake particles of high aspect ratio dispersed in polymer matrix with various filler amount of 80-90 wt.%. The frequency dispersion and magnitude of complex permeability is almost the same for Sendust and Permalloy composite specimens. However, the complex permittivity of the Permalloy composite (, ) is much greater than that of Sendust composite (, ). Due to the large dielectric permittivity of Permalloy composite, the absorbing band is shifted to lower frequency region. However, the investigation of impedance matching reveals that the magnetic permeability is still small to satisfy the zero-reflected condition at the quasi-microwave frequency band, resulting in a small microwave absorbance lower than 10 dB.