BOCA RATON, FL—SEPTEMBER 28, 2004 -- Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of broadband fixed wireless DSL networks, announced today that it has sold its WipLL 700 MHz Broadband Wireless Access systems through Stutler Technologies, its Authorized System Integrator, to Green Hills Telephone, Blue Valley Telephone, S&T Telephone, Craw-Kan Telephone, Rainbow Telephone and Mobius Communications Corporation.

In June 2003, the FCC auctioned licenses at 700 MHz for use in broadband communications initiatives in the United States. The frequencies were being vacated by UHF television operators who were moving their signals to digital TV in other frequencies. Rural telecommunications providers like Green Hills Telephone, Blue Valley Telephone, S&T Telephone, Craw-Kan Telephone, Mobius Communications Corporation, NE Nebraska Telephone and Rainbow Telephone purchased some of these licenses, seeking this low-frequency spectrum to offer wireline-equivalent services to subscribers in rural America by means of wireless access networks. They have now acquired Airspan’s WipLL platform to roll out their services in the 700MHz band to their customers in Missouri, Kansas, and Nebraska. Those customers will receive Broadband Internet access as well as other integrated services such as Voice over IP.

According to Donn Swedenburg, Technology Consultant for RVW Inc., 700 MHz is an ideal frequency for last-mile Broadband Wireless Access. RVW, which has advised a number of the providers in their selection of the Airspan platform, has been encouraging its clients who own the spectrum to begin deploying systems as soon as possible. “We feel that the reliability, performance and price of Airspan’s 700 MHz products provide the best package of features, performance and value available today in broadband multipoint distribution systems ”, he said.

Dave Kirk, Sales Director for Stutler Technologies, says that Stutler is also very pleased with field deployments of Airspan’s WipLL 700 MHz products. Stutler has installed non-line of sight links with WipLL at ranges greater than 18 miles, and the signals have experienced minimal degradation. “This combination of range and NLOS capability, paired with WipLL’s low-cost and modular infrastructure, allows spectrum owners like Green Hills, Blue Valley, S&T, Craw-Kan, Rainbow, and Mobius to increase their market penetration for advanced telecommunications services in a very cost-effective manner.”

Green Hills Telephone acquired the 700 MHz spectrum to enable it to increase its market area and range of services, according to Chuck Erke, Information Systems Manager for Green Hills. The company has found that the modular base station architecture and high-performance subscriber equipment of Airspan products creates a strong business case for providing advanced broadband services to its customers. The company had no hesitation in choosing a broadband wireless architecture from Airspan that enables it to offer subscribers value-added services such as Voice over IP and Virtual LANs. The company expects to achieve substantial cost savings using Airspan solutions to reach its service areas.

“We are very encouraged by the overwhelmingly positive response the 700 MHz spectrum owners have given us on our product,” said Dick Lee, General Manager and Vice President of Airspan’s North American Sales group. “These sales reflect the considerable value that our system integrators, of which Stutler Technologies was a pioneer, bring to our business. The speed with which our 700 MHz products have found acceptance among US operators, together with the very successful introduction of our 900 MHz WipLL product line in 2003, is evidence of this value. The integrators have dramatically increased our North American business, and we expect further growth as we continue to add new distribution channels to the market”.

About Stutler Technologies
Stutler Technologies, Corp. based out of Emporia, Kansas is a turn-key systems integrator with services ranging from wireless path analysis to complete backhaul, broadband, and network installation and tower services. Stutler has a strong telephony background and works with telephone operating companies, commercial businesses, cities, schools, and WISPs coast to coast. Stutler Technologies, Corp. has built over 20 Airspan WipLL networks in the last year. More information on Stutler can be found at http://www.stutler.net

About Green Hills
Green Hills Companies of Breckenridge, Missouri, provide telephone, long distance, cable TV, and toll-free Internet service to North Central Missouri rural communities. Green Hills plans on using their 700 MHz spectrum to provide commercial grade internet services and potentially dial tone to areas currently not being reached by fiber and copper.

About RVW Inc
RVW is a professional telecommunications engineering firm that assists ILEC’s and CLEC’s in adapting technology to both traditional and emerging markets. More information on RVW can be found at http://www.rvwinc.com

About Airspan Networks, Inc.
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

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 produce and distribute its product in the 700MHz frequency; Stutler’s ability to deploy the networks sold; and the end-users’ ability to sell services on the networks and to pay for the equipment. 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