Flexible conductive polymer composites were prepared using styrene-butadiene rubber (SBR) as a matrix and conductive carbon black as filler. The filler loading was varied from 10 to 60 phr. The complex AC impedance and electromagnetic interference shielding effectiveness (EMI SE) of the composites were measured at the microwave frequencies of 7.8-12.4 GHz. The effect of variation in filler concentration and measurement frequency on the AC impedance and EMI SE of the composites were investigated. Equivalent circuits describing the conduction behavior of the composites were determined by means of Nyquist plots. The complex electric modulus of the composites was also determined. Increase in the filler loading increased the capacitive nature of the materials. The composites were better defined by a parallel resistor-capacitor circuit in series with a resistor. The EMI SE was found to pass through a maximum with increase in frequency. However, with the increase in filler loading and sample thickness of the material, the EMI SE was found to increase continuously.