BOCA RATON, FL—MAY 5, 2004 -- Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of broadband fixed wireless DSL networks, announced today that it has signed its first agreement with TeleNet Group of Poland for the purchase of AS4020 equipment to expand TeleNet’s existing network.

The TeleNet Group operates today as a provider of fixed-line telephone and Internet services in the Malopolska, Podkarpacie, Zachodniopomorskie, Lubuskie, Wielkopolskie, Lodzkie and Podlasie regions of Poland. TeleNet serves approximately 140,000 subscribers, and intends to develop and expand its networks with the installation of new equipment to offer a mix of voice telephony and broadband data services.

TeleNet has placed an initial purchase order under the supply agreement, with deliveries scheduled for May 2004. Additional significant deliveries are expected later in 2004 and in 2005 to cover TeleNet’s expansion plans for services in other regions.

Andrzej Rogowski, CEO of TeleNet commented: “For quite a long time we have evaluated many wireless solutions that can deliver competitive integrated voice and data solutions to compete both economically and technically with traditional solutions, and we found Airspan’s portfolio to have the perfect balance of capabilities and economics. Airspan’s strong R&D roadmap influenced us strongly, and also led to our decision to open up a long term relationshio between the companies.”

“We are very pleased to be working with TeleNet, a very experienced operator”, said Anders Rendahl, Airspan’s Vice President and General Manager EMEA. . “We collaborate on delivery of AS 4020 for business applications in areas selected by TeleNet. We expect that with our strong value proposition of features and performance coupled with our extensive broadband product line and WIMAX roadmap, we will see continued cooperation between our companies in 2004 and 2005.”

Airspan’s AS4020 is a true wireline equivalent proposition for both ILECs and CLECs. Circuit-switched voice and native VoIP support gives carriers the choice of transparent support for traditional services or next generation IP voice approaches. The system delivers a 2.3Mbit/s downstream and 1.5Mbit/s upstream data rate, making it tailor-made for residential, SOHO and SME applications. It allows the carrier to combine voice and data requirements onto a single access platform, thereby reducing operational costs and fault rates.

About TeleNet Polska
TeleNet is an alternative telecommunications operator that has been operating in Poland since 2002 after acquisition of Polish Telecom Operators, Telefonia Polska-Zachod and TV-Tel Kutno of Elektrim Telekomunikacja. TeleNet provides fixed-line telephone and broad band data services in the areas of Szczecin, Stargard Szczecinski, Gorzow Wlkp., Debica, Brzesko, Mielec, Konin.,Kutno, Ostrow Mazowiecka, Bialystok etc TeleNet has a highly-skilled team of professionals, who are continually evaluating and developing new effective solutions to satisfy their customers' changing needs. This approach has received wide recognition from both residential customers and large companies, who expect to receive comprehensive telecommunications services from their telephone service provider.

More information on the TeleNet Group can be found at http://www.tnp.pl

About Airspan Networks
Airspan Networks provides wireless voice and data systems and solutions, including Voice Over IP, 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 continues to evolve its products toward the proposed 802.16d IEEE standards, and is an active 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 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. These important factors include the factors that we identify in our 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.

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