BOCA RATON, Fla.—January 31, 2005– Airspan Networks, Inc. (Nasdaq: AIRN), a leading worldwide provider of broadband wireless access networks, including WiMAX standard systems, announced today that it has signed an agreement with COLDECON S.A. of Colombia for deliveries over the next few years of Airspan’s WipLL point -to-multipoint products. Deliveries commenced in the fourth quarter of 2004.

COLDECON started its operations in the city of Cali, Colombia in 1998 and is currently a leading nationwide provider of paging, cellular and wireless services in Colombia. COLDECON later expanded to Internet services and dedicated data lines to corporate customers in the country and is currently one of the fastest growing telecommunications companies in the Andean region. COLDECON leads the Colombian market for paging, Internet access, Call Centers services for domestic and international calls, radio telephony and distribution of cellular phones. COLDECON has currently 7,000 paging customers and more than 70,000 corporate and residential Internet customers.

The WipLL equipment to be delivered to COLDECON will be installed initially in 28 cities in Colombia and will provide services to customers in these cities in the early months of 2005. The network will operate in the 5.8GHz band and will be used by COLDECON to provide last-mile IP data connectivity and other applications to thousands of its customers. COLDECON will have substantial coverage in its markets with more than 40 base stations installed and a roll out initially of more than 1,000 customers.

Juan Carlos Betacourt, Director of COLDECON Wireless Business Unit, commented: “We are excited to deploy Airspan’s WipLL equipment as our next-generation network. With WipLL we can provide high-end IP services to our customer base and aggressively expand into new IP-based services in 2005. We have analyzed various technologies in the market before settling on Airspan’s WipLL product. The WipLL-specific differentiators from other products high capacity per base station at reasonable costs and regional presence - were key drivers in our decision.”

“We are enthusiastic about COLDECON’s growth plans,” said Amit Ancikovsky, Airspan’s Vice President and General Manager Latin America. "We believe that COLDECON’s existing customer base, expertise in the market and well-defined strategic plans for the future are sound foundations to their expansion plans. With our significant presence in Colombia, we are committed to support COLDECON in its new strategic plans.”

Airspan's WipLL platform is a low-cost high-performance Fixed Wireless Access system designed to deliver high-speed data, Voice over IP (VoIP) and multimedia services to residential, small business and enterprise customers. WipLL is capable of delivering burst data speeds of up to 4 Mbps (3.2Mbps net) to each customer. WipLL introduces real-time adaptive modulation (2-, 4-, 8-level FSK) and auto retransmission request (ARQ); features that offer high quality services whilst maximizing spectrum utilization. WipLL is available in both licensed bands (700 MHz, 2.5GHz, 2.7-2.9GHz and 3.4-3.8GHz) and unlicensed bands (900MHz, 2.4GHz and 5.8GHz).

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 Colombia; COLDECON’s ability to deploy the networks sold and 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
Senior Vice President & Chief Financial Officer
Airspan Networks, Inc.
Tel: +1 561 893-8682
Fax: +1 561 893-8671
Email: paronstam@airspan.com