SUNRISE, Fla. – JULY 26, 2002 — Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of broadband fixed wireless DSL networks, announced today that its wireless DSL technology has been selected by Broadcast Communications Limited (BCL) of New Zealand to provide broadband wireless access services to primarily business and residential customers in rural locations to supplement the ADSL network operated by Telecom New Zealand. Telecom is New Zealand's largest telephony service provider.

BCL is a wholly-owned New Zealand premier wholesale wireless provider with a network that presently delivers both broadcast and telecommunications solutions to more than 90% of this geographically diverse country.

Telecom New Zealand is partnering with BCL to trial wireless high-speed Internet services in the Taranaki region of New Zealand. “This venture in Taranaki is significant because it is BCL’s first strategic relationship with a retail service provider and will enable Taranaki residences and businesses to enjoy the advantages of broadband,” said Mr. Geoff Lawson, managing director for BCL. Mr. Lawson also commented that BCL has been carrying out tests in various regions with delivery of carrier class, toll quality voice services and high speed always-on broadband services using Airspan’s technology in non, near and line of sight deployments to 50+ km range.

The Telecom/BCL project, utilizing Airspan wireless DSL technology, will deliver download controlled speeds of 128 kilobits per second, burstable to between 512 kilobits and 2 megabits per second depending on individual customer Service Level Agreements. It will be part of BCL’s wider nationwide broadband network with access available to any telecommunications retailer in New Zealand.

"Our wireless DSL technology already has proven itself to be the most reliable and cost efficient product of its kind in trials with BCL in other areas of New Zealand,” said Henrik Smith-Petersen, president of Asia-Pacific for Airspan. “This partnership between BCL and the country’s largest telephony provider reinforces Airspan’s products as best suited to provide critical broadband access in rural and provincial New Zealand.”

Utilizing Airspan equipment, BCL is poised to begin a nationwide rollout of a full service carrier class wireless platform that will deliver a wholesale voice and data telecommunications alternative for New Zealand’s retail service providers.

About Airspan Networks
Airspan Networks 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 90 operators in more than 45 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. More information on Airspan can be found at http://www.airspan.com

About BCL
BCL has been providing Broadcast and Telecommunications System solutions to New Zealand and internationally for more than 60 years. Over that time, BCL has consistently provided well-engineered, well-managed facilities to a wide variety of clients. While BCL’s roots are in providing broadcast networks (both TV and Radio), intrinsic to these systems is the provision of sophisticated and comprehensive telecommunications networks. As a result, BCL has been able to offer complete systems solutions in terms of design, installation, operation and maintenance to both Telecommunications and Broadcast network operators.

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. 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 Investment inquiries, contact:
Airspan Networks:
Peter Aronstam
Chief Financial Officer
Tel: +1 954 851- 1680
Fax: +1954 851-1661
Email: paronstam@airspan.com

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