The work presents studies on the complex permittivity and permeability of composites based on acrylonitrile butadiene rubber containing combinations of conductive fillers which include carbon black and nickel powder. The properties of those composites, containing each of the fillers at the same amount were compared. The permittivity and permeability values of the composites are influenced remarkably by their morphology and structure as well as by the morphological and structural specifics of both fillers. As electron scanning microscopy studies confirm, those parameters are predetermined by the nature of the composites studied—particle size, particles arrangement in the matrix and their tendency to clustering. Last but not least matrix-filler interface phenomena also impact the characteristics in question. The possibilities for applications of the composites in antennae have been studied, in particular, as substrates and insulating layers in flexible antennae for body centric communications (BCCs). The research results allow the conclusion that these materials can find such applications indeed. Composites of higher conductivity can be used where surface waves are generated to provide on-body communications, while composites of lower conductivity may be used for antennae that will be on the body of a person and will transmit to and receive from other antennas that are not on the body of the same person (off-body communications). It is clear that one can engineer the properties of antennae substrates at microwave frequencies by adjusting the filler content and the type of filler and thus control and tailor the antenna performance specific for a particular application.