Airslide Systems Secures Telecom Industry Veterans for Board of Directors.

Business Editors

NORTHBROOK, Ill.--(BUSINESS WIRE)--Nov. 7, 2001

Company Attracts Top Industry Leaders from GTE Wireless and Lucent

Airslide Systems, Inc., a leading developer of IP-based solutions for cellular communications networks, announced the expansion of its board of directors today, naming Michael J. McDonough, former president of GTE Wireless, and Steve Korn, former vice president, Strategic Marketing and Business Development for the Metro Optical Networking Group of Lucent Technologies (NYSE: LU), to its board.

"Michael McDonough and Steve Korn bring an impressive depth of knowledge in the telecommunications and wireless industry to Airslide," said Marc Zionts, Airslide president and CEO. "We enjoy a close working relationship with all our board members and value their expertise and input when making corporate decisions. Michael's vast experience in the wireless carrier industry and Steve's expertise in building and scaling an international networking technology company add up to a solid understanding of the cellular market from both the vendor's and operator's perspectives. This unique combination is a tremendous asset to Airslide and I look forward to working with Michael and Steve to strengthen Airslide's value proposition to our customers."

Michael McDonough brings his leadership and success in the wireless carrier market and previous board experience to Airslide. Michael's presence on the Airslide board will enable the company to further strengthen its growth strategies in a highly competitive environment. During 1997-2000, Michael was senior vice president for Marketing and Sales and subsequently president of GTE Wireless. Prior to working at GTE Wireless, Michael was senior vice president of Market Integration at GTE Corporation and, before that, held various senior positions at GTE Telephone Operations, a $10 billion telecommunications company serving U.S. residential, business and wholesale customers. During his seventeen years with GTE Telephone, Michael's roles ranged from vice president of Planning at GTE Northwest to president of Business Markets for GTE Telephone Operations. He holds a BA in Economics from the University of Montana and a PhD in Economics from Texas A&M University.

Steve Korn joins Airslide's board of directors with experience garnered from many senior positions in telecommunications and brings hands-on strategic expertise in growing companies to maturity. Steve was vice president, Strategic Marketing and Business Development for the Metro Optical Networking Group of Lucent Technologies. Steve joined Lucent as a result of Lucent's acquisition of Chromatis Networks, a provider of next-generation Metro transport equipment. Steve was co-founder and vice president of Marketing/Business Development for Chromatis, where he defined the strategic marketing direction for the company. Before joining Chromatis, Steve was director of Business Development for 3Com. Prior to his role at 3Com, he helped establish U.S. Robotics' cable business unit and served as its director of Business Development. While at 3Com, Steve also guided the company's strategic partnerships, alliances, mergers and acquisitions, and strategic planning. Steve has a BA in economics from the University of Rochester and an MBA from the University of Chicago.

"With its industry-experienced management team, including today's addition of Michael McDonough to its board, Airslide is well positioned to be a major player in the wireless IP infrastructure market," said Steve Korn. "With the caliber of their interoperable and cost-effective solution to meet the growing needs of IP convergence, Airslide is a compelling option for cellular carriers looking to expand their networks."

About Airslide Systems

Airslide Systems develops and markets carrier-class offloading solutions for growing wireless networks onto next-generation IP networks. Airslide's IP-based products are smoothing the transition from circuit-switched TDM to fully converged packet-switching networks by leveraging the best of existing and evolving telecom standards. The core technology facilitates a shift from operating and maintaining three separate networks for voice, signaling and data, by merging signaling and data networks onto a single IP backbone. Airslide offers a cost effective alternative to upgrading costly signaling network equipment, in a manner that allows carriers to accommodate subscriber growth, alleviate network bottlenecks and enable future data based applications. Airslide's flagship product, the Airslide Signaling Gateway(TM), is a scalable offloading solution that 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.

A private company, Airslide Systems' investors include the Sequoia Capital Seed Fund, Soros Private Equity Partners, Anschutz Investment Company, KPNQwest, CDB Webtech, the Intel Communications Fund and SingTel Ventures. Airslide is headquartered in Northbrook, Illinois and operates its R&D and product development center in Israel. For more information, visit www.airslide.com.