BOCA RATON, FL—JULY 29, 2004 -- Airspan Networks, Inc. (Nasdaq: AIRN),a leading worldwide provider of broadband fixed wireless DSL networks, announced today that it will supply its WipLL access solution and additional equipment and services to the Comsat International - America Inalambrica Consortium for the deployment of turnkey broadband internet access networks in Colombia.

The Consortium announced yesterday that it had been awarded the three zones it had bid -Norocidental, Centro-Oriente and Costa Atlantica - in the COMPARTEL Connectivity project solicitation. The Colombian government, through COMPARTEL, conducted a competitive tender for the installation and operation of a turnkey telecommunications network which will provide broadband internet access to locations throughout the country. The tender called for bids on 5 designated zones, of which the Comsat-led Consortium bid on three. The Consortium bid an innovative combination of VSAT and WipLL technologies. COMPARTEL will pay the Consortium in excess of $20million over five years as it builds and operates the networks. Airspan expects its share of those payments will exceed ten percent for its supply of equipment and services to the Consortium.

The COMPARTEL Program is a six-year initiative to provide telecommunications access to public institutions in Colombia. The Project was divided into three phases to support Rural Telephony, Telecenters and Broadband Internet access. In particular, this third phase was designed to support Broadband Internet access for more than 3,700 sites throughout Colombia, of which approximately 2,300 sites are in the zones to be built by the Consortium. The project involves providing a high-speed Internet service together with access LAN support and PCs for local municipalities, schools, hospitals, and military sites. The Consortium will provide the access through state-of-the-art Broadband VSAT technology combined with Airspan’s WipLL fixed wireless equipment to enhance the local coverage zones.

Airspan anticipates initially that approximately one third of the sites in the three zones will be served by WipLL base stations and customer premise equipment, which will be installed over the next 18 months. The equipment will operate in the 900MHz and 2.4GHz frequencies. The VSAT equipment will be used to backhaul the traffic from most of the WipLL sites. The Consortium will have the ability to cover additional sites as the project is deployed, without having to go through further competitive bids. Airspan will also supply the UPS equipment to all sites, and directly or indirectly perform other integration and installation services.

“This project is a fitting challenge to our technological and operational expertise,” said Amit Ancikovsky, Airspan’s Vice President and General Manager Latin America. “When completed, it will be the largest deployment in the region of wireless equipment in the last mile using VSAT as backhaul. We have done substantial work in integrating our WipLL platform with diverse VSAT technologies, and we are committed to support the Consortium in this project. It also adds to our other recent successes in Colombia, and establishes us as the de facto leader in the region’s wireless IP space.”

“This is a major project win for Comsat International, and for the people of Colombia,” said Comsat International President and CEO George M. Kappaz. “It is one of the largest broadband Internet projects ever tendered in Latin America, and we are thrilled that our comprehensive solution was deemed the best by Compartel. We are excited to have Airspan -– as our partner and regard Airspan’s support as key to the success of this project. As part of the project we will roll-out the WipLL platform in hundreds of towns across Colombia, which will give us the capacity to provide further services at marginal additional investment in the network in the future.”

About Airspan Networks
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

About Comsat International, Inc.
Comsat International, Inc. provides local, national and pan-regional network services and solutions for more than 1,500 enterprise and service-provider customers over modern, integrated terrestrial and satellite network facilities throughout Latin America. It has offices and facilities in Argentina, Brazil, Colombia, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Peru, Panama, and Venezuela, and has gateways interconnect points in the USA. It also provides services via terrestrial and satellite links to Bolivia, Chile, Ecuador and Uruguay. Comsat also has an operation providing communications services in Turkey, as well as to the Middle East, and parts of Europe, Asia and Africa. In addition, the company operates over 2,000 square meters of data center space and teleport collocation space throughout the region. Comsat International, Inc. is headquartered in McLean, Virginia USA.

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 integrate WipLL with VSAT technology; the Consortium’s ability to deploy and operate the network; and COMPARTEL’s ability to pay for the services provided on the network. 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.

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