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Airspan Announces Sale of WipLL 700 MHz Equipment to Cavalier Group, LLC
[September 28, 2004]

Airspan Announces Sale of WipLL 700 MHz Equipment to Cavalier Group, LLC

BOCA RATON, Fla. --(Business Wire)-- Sept. 28, 2004 -- Airspan Networks, Inc. (Nasdaq:AIRN), a leading worldwide provider of broadband fixed wireless DSL networks, announced today that it has sold its WipLL 700 MHz Broadband Wireless Access systems to Cavalier Group, LLC.

The Cavalier Group holds 51 lower 700 MHz C Block licenses, which cover approximately 40 million POPs. Cavalier acquired Airspan's WipLL platform to test the system with services in the 700MHz band in the Jackson, MS and potentially other markets. Cavalier intends to provide Broadband Internet access initially, and may add integrated services such as Voice over IP at a later time. As the test matures, Cavalier may expand the geographic coverage of the WipLL system in the Jackson area or test additional equipment in other markets within or outside of Mississippi. Cavalier's licenses include markets in Mississippi as well as much larger markets such as New York City, Boston, Philadelphia, Pittsburgh and Buffalo.

Nash Neyland, Manager of Cavalier Group stated, "We acquired the 700 MHz spectrum in FCC auctions to provide voice and data services as a new business venture. Airspan's modular base station architecture and high-performance subscriber equipment certainly appears to create a strong business case for us to provide advanced broadband services to customers in certain of our markets, especially those customers with no cable or DSL availability. We felt most confident choosing a Broadband Wireless architecture that minimizes our capital expenditure but provides us the flexibility to grow as the market demand grows."


"We are very encouraged by Cavalier's confidence in testing their market with Airspan's solution," said Dick Lee, General Manager and Vice President of Airspan's North American Sales group. "Cavalier is one the largest 700MHz license holders and we are encouraged by this new relationship and how we are moving forward with similar applications".

About Airspan Networks Inc.

Airspan Networks provides wireless voice and data systems and solutions, including Voice Over IP (VoIP), to both licensed and unlicensed operators around the world in frequency bands between 700 MHz and 6 GHz, including both PCS and 3.5GHz international bands. Airspan has a strong product evolution roadmap that includes offerings compliant with the new 802.16-2004 standard, and with built-in 802.16e capability. Airspan is on the Board and a founder member of the WiMAX Forum. The Company has deployments with more than 200 operators in more than 70 countries. Airspan's systems are based on radio technology that delivers excellent area coverage, high security and resistance to fading. Airspan's systems can be deployed rapidly and cost effectively, providing an attractive alternative to traditional wired communications networks. Airspan also offers radio planning, network installation, integration, training and support services to facilitate the deployment and operation of its systems. Airspan is headquartered in Boca Raton, Florida with its main operations center in Uxbridge, United Kingdom.

More information on Airspan can be found at http://www.airspan.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) a slowdown of expenditures by communication service providers; (ii) increased competition from alternative communication systems; (iii) the failure of our existing or prospective customers to purchase products as projected; (iv) our inability to successfully implement cost reduction or containment programs; (v) a loss of any of our key customers; (vi) our ability to retain the largest existing customer of Nortel Network's fixed wireless business; (vii) our ability to continue to sell the existing inventory of Nortel Network's fixed wireless business on purchase terms and conditions comparable to those currently utilized, and (viii) specific to this press release, Airspan's ability to successfully produce and distribute its product in the 700MHz frequency; Cavalier's ability to deploy the networks sold and to sell services on the networks. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2003. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.

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