SUNRISE, Florida - December 4, 2001 - Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of fixed broadband wireless DSL networks, today announced an agreement with Mobitel, a Lagos, Nigeria-based telecommunications operator, to supply US$1.9 million of its AS4000 wireless DSL systems for a new 2,000-line system in Lagos, and an additional 2,400-line expansion in Nigeria's Warri region.

The agreement reinforces the relationship between Airspan and Mobitel which commenced in August 1999 with an initial $2.5 million contract to deploy a wireless local loop (WLL) network in the Warri region. Since then, in excess of 1,400 lines have been deployed in this area with a large proportion being utilized by Shell Petroleum Development Company of Nigeria Limited.

"Mobitel and Airspan have enjoyed a very successful relationship due to the flexibility and ease and speed in which Airspan's wireless DSL systems can be deployed," said Charles Joseph, chief executive officer of Mobitel. "This has enabled us to roll-out fixed wireless services quickly and cost-effectively in the Warri region. The robustness of Airspan's technology, combined with its ability to provide wide area coverage and resistance to fading in the adverse environments of Nigeria was also a driving factor behind our decision to deploy the Airspan solution in Lagos."

The most populous nation in Africa with 126 million inhabitants, Nigeria is rapidly emerging as a major market for fixed broadband wireless communications services. Mobitel currently has a regional office in Warri, and owns licences to provide voice and data services on a national level. Mobitel is currently working closely with Airspan to introduce its PacketDrive technology, which combines an always-on IP port, along with multiple carrier-grade quality voice lines, into the network.

Airspan's AS4000 wireless DSL system offers point-to-multipoint delivery of a wide range of telecommunication services including premium telephony, high-speed packet and leased-line data. The system has coverage of up to 25km from base with quality of service exceeding traditional copper wire systems. It has frequencies ranging from 900MHz to 4 GHz.

"Our ongoing relationship with Mobitel underscores the confidence and continued commitment operators have in Airspan's wireless DSL systems to help them meet their telecommunication infrastructure needs," said Anders Rendahl, vice president and general manager, Airspan Networks EMEA. "Airspan is one of the leading fixed broadband wireless providers in Africa. Our fixed broadband wireless access technology is well suited to meet the increasing demand for high-speed voice and data services in this region."

About Mobitel
Mobitel is a provider of Telecommunications Services in Nigeria. It is licenced by the Nigerian Communications Commission for Nationwide operations for wireline, wireless, prepaid calling card and other value-added services. It presently serves the important Victoria Island business district of Lagos Nigeria using copper and fibre cables. Mobitel is poised to become a major player in the newly deregulated marketplace in Nigeria and plans to provide a minimum of 200,000 new lines by the year 2003.

About Airspan Networks
Airspan provides wireless DSL systems and solutions to operators around the world with licenses in frequency bands between 900 MHz to 4 GHz, including both PCS and MMDS. The company has deployments with more than 60 operators in more than 40 countries. Airspan's systems are based on radio technology that delivers wide area coverage, security and resistance to fading. Airspan's systems can be deployed rapidly and cost effectively, providing 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. More information on Airspan can be found at http://www.airspan.com

This press release contains forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are only predictions and actual results could differ materially from those anticipated in these statements based on those factors identified in the company's filings with the SEC. The words "believe'', "expect'', "intend'', "anticipate'', variations of such words and similar expressions identify forward-looking statements but their absence does not mean that the statement is not forward looking. Forward looking statements in this press release include statements that Nigeria, as the most populous country in Africa, is a major growth market for fixed wireless broadband access systems and as one of the market leaders in Africa, the implied opportunity from such market. These statements are not guaranties of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this announcement.


For Media inquiries, contact:

Airspan Networks:
Al Quintana
Senior Director, Marketing Communications
Tel: +1 954 851 1665
Fax: +1 954 851 1678
Email: aquintana@airspan.com


For Investment inquiries, contact:

Airspan Networks:
Peter Aronstam
Chief Financial Officer
Tel: +1 954 851- 1680
Fax: +1 954 851- 1661
Email: paronstam@airspan.com

Lippert/Heilshorn & Associates, Inc.
Ryan Daniels or William A. Walkowiak, CFA
Tel: +1 212-838-3777
Fax: +1 212-838-4568
Email: william@lhai.com