Airslide Founder, Former CEO Stephan Ouaknine Resigns From Operational Role - To Remain On As Advisor.

Business Editors

NORTHBROOK, Ill.--(BUSINESS WIRE)--June 21, 2001

Airslide Systems, Inc., a leading developer of IP based solutions for cellular communications networks, announced today that founder and former Chief Executive Officer Stephan Ouaknine has resigned from his operational role in the company.

The mutual decision follows the recent hiring of Marc Zionts as Chief Executive Officer. Ouaknine will continue to advise Airslide on strategic matters including business development and M&A activity.

Ouaknine founded Airslide in Tel Aviv, Israel in April 1999 from his home and proceeded to establish a small office in Herzelia, a northern suburb. Joined by co-founder and current Chief Technology Officer Oren Shmulevich, the two built the core team of Airslide and soon raised seed financing from leading Silicon Valley Venture Capital Firm Sequoia Partners through its Capital Seed Fund.

In total, Ouaknine raised over $36 million dollars venture funding for Airslide. Financial and strategic investors include Soros Private Equity Partners, Sequoia Capital Seed Fund, Anschutz Investments, KPN Qwest, Intel Communications Fund, CDB Webtech and SingTel Ventures. In addition he was instrumental in creating R&D and Manufacturing facility in Israel as well as developing a Sales and Marketing presence in both Europe and North America.

"Stephan was crucial to creating, building and financing Airslide," remarked Haim Sadger, Sequoia managing partner and Airslide Chairman "He brought energy and vision to one of Israel's most exciting new companies. His dynamism and personality continue to be a part of the Airslide culture. I enjoyed working with him and we wish him well in his future endeavors and are confident that he will be very successful."

"I have always been a builder and am thankful to have had the opportunity to create the foundations of Airslide Systems, Inc.," stated Ouaknine "It has been an honor working with the talented and dedicated employees and executives at Airslide. I feel confident that Airslide is poised to continue its growth and establishment as one of the world's leaders in IP Cellular Network Infrastructure."

"We are grateful for Stephan's contribution and efforts," said Marc Zionts, Airslide President & CEO. "He demonstrated tremendous vision and we look forward to Stephan's continued contribution to our success."

Prior to founding Airslide, Ouaknine was part of the founding team of Emblaze Systems Ltd. (formerly Geo Interactive Media Group Ltd., LSE: BLZ) where he performed several Sales, Marketing and Business Development roles.

About Airslide Systems

Airslide Systems is a leading developer of IP based solutions for cellular telecommunications networks. Deploying Airslide's solutions enables carriers to grow and manage their network backbone in a significantly more optimized and cost-effective manner, by reducing both capital and operating expenses. Airslide's highly scalable, carrier-grade platforms have been specifically constructed for the cellular telecommunications industry and are interoperable with all existing backbone equipment. Airslide is headquartered in Northbrook, Illinois while retaining its R&D and production facilities in Herzelia, Israel. For more information, please visit our website at www.airslide.com.