BOCA RATON, Florida – October 31, 2003 - Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of fixed broadband wireless DSL networks, announced today the launch of two new products, branded and marketed as AS4030 and AS3030. The new products will both complement deployments of Airspan’s existing suite of AS4020 and WipLL products, and will also allow the company to address the needs of a new set of customers and applications.

AS4030 is Airspan’s high-end point to multipoint (P-MP) product range that is ideally suited to operators wishing to offer service bundles to medium and large businesses, and to multi-tenant dwellings that require considerable bandwidth for their end users. It can also be configured for a wide range of backhaul applications, including the ability to backhaul traffic from the ever-increasing number of public Wi-Fi Hot Spots being deployed in markets globally. With its higher capacity, AS4030 will allow an operator to deliver dedicated IP connections to end customers at speeds of up to 45Mbit/s, or 1-4 E1/T1s or combinations of IP and E1/T1 services.

This product range will allow Airspan to compete for projects that require bandwidths not always available from earlier Airspan products, particularly in more developed markets where higher bandwidth is a major requirement of business users wishing to be connected to the Internet. It can also be deployed in a project alongside AS4020 equipment, allowing an operator to build a network capable of serving all market segments ranging from single homes requiring one voice or DSL-type line to large businesses or buildings with many lines and varying needs for data speeds, all on the single Airspan platform.

The latest AS4030 technology is based on robust 802.16 OFDM technology. It can therefore allow operators to provide service in both line-of-sight (LOS) and full non line-of-sight (NLOS) deployments, covering distances of up to 50 kilometers. This capability will allow operators to deploy the Airspan solution in dense urban environments where buildings and terrain often otherwise block or divert wireless signals. The product is also a full implementation of the new WiMAX 802.16 standard and delivers 5 bits/Hz over-the-air, setting new standards of spectral efficiency.

AS3030 is the point-to-point (P-P) version of AS4030 and delivers IP bit rates of up to 45Mbit/s, or 1-4 E1/T1s or a combination of IP and E1/T1 spans. AS3030 also uses OFDM technology, which enables NLOS P-P links of up to 10km as well as LOS links of up to 80km. In a P-P configuration, AS3030 will be able to backhaul traffic from a network that uses AS4020 or WipLL products, or from networks using 802.11 Wi-Fi technologies.

Paul Senior, Airspan’s vice president of marketing and product management said,” We are extremely excited about these new additions to our product range. Airspan now has a full portfolio, and can deliver broadband wireless P-MP and P-P solutions for every market segment served by an operator, ranging from large corporate customers to residential end-users. This allows Airspan to deliver complete access networks based only on wireless technology”.

“The new AS4030 is designed to meet the WiMAX interoperable system profiles”, Senior continued. “WiMAX, which was recently voted the Most Promising Technology of the Year by ZD Net, at the CNET UK Technology Awards ceremony, is gaining considerable momentum and acceptance by end-users and carriers alike”.

Eric Stonestrom, Airspan’s CEO added; “The AS4030 and AS3030 product ranges improve Airspan’s ability to win high-end broadband wireless projects. We will immediately offer the products in key markets like China, North America, and Europe, generating incremental revenues there through our current sales channels. This new product range will give our existing 3.5GHz and 5.8GHz customers access to new applications and services sets, making the implementation and expansion of their networks entirely on our platforms both feasible and attractive.”

About Airspan Networks
Airspan Networks provides wireless DSL systems and solutions to both licensed and unlicensed operators around the world in frequency bands between 700 MHz to 6 GHz, including both PCS and 3.5GHz international bands. Airspan continues to evolve its products in order to meet new 802.11b and 802.16a IEEE standards. The company has deployments with more than 120 operators in more than 60 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 as that term is defined in the Private Securities Litigation Reform Act of 1995. Statements made in this press release that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue” or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. The forward-looking statements also include statements concerning Airspan’s ability to seize growth opportunities, and are subject to risks and uncertainties that could cause actual results to differ materially. Investors and others are 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; and (v) a loss of any of our key customers. 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, 2002.

For Investment inquiries, contact:
Airspan Networks:
Peter Aronstam
Chief Financial Officer
Tel: +1 561 893-8682
Fax: +1 561 893-8671
Email: paronstam@airspan.com