Airspan Networks Announces Preliminary Second Quarter Results; Second Quarter Conference Call Scheduled For July 25.

Business Editors

SUNRISE, Fla.--(BUSINESS WIRE)--July 13, 2001

Airspan Networks Inc. (Nasdaq: AIRN), a leading worldwide equipment provider of wireless DSL networks, today announced preliminary second quarter results.

Revenues for its second quarter 2001 are expected to be approximately $8.6 million, 14 percent below the first quarter 2001 revenues of $10.1 million and an increase of approximately 26 percent from the second quarter of 2000. The company will provide full quarterly information and additional guidance on July 25th in conjunction with its second quarter earnings release and conference call.

"The weakness in the telecommunications market and the challenging economic environment in many of our markets is delaying the spending plans of some of our customers," said Eric Stonestrom, President and CEO of Airspan Networks. "We made concrete progress in the second quarter in terms of new customer wins and shipped more than $11.5 million of products, but it was only in the last few days that we elected to defer revenue on some shipments due to financial prudence.

"We continue to be encouraged by the relative stability of our business during the current dramatic turmoil in the telecom markets," Stonestrom added. "We believe that both the diversity of our customer base and the wide geographical spread of our sales base are helping us weather the current downturn and strengthen our relative market position."

Airspan will release second quarter 2001 results after the 4:00 p.m. (EDT) close of the U.S. financial markets on Wednesday, July 25. An investor conference call is scheduled for 5:00 p.m. (EDT) on the same day. The dial-in numbers for the live conference call are as follows: US toll-free number is 1-800-235-0452; international access dial-in number is 1-785-832-1077. When dialing in, please reference the Airspan Networks conference call.

There will be a live webcast of the conference call available on the investor relations section of the Airspan Web site at www.airspan.com. The webcast will also be distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network such as America Online's Personal Finance Channel, Fidelity Investments(R) (Fidelity.com) and others. Institutional investors can access the call via CCBN's password protected event management site, StreetEvents (www.streetevents.com).

For those who cannot listen to the live broadcast, an audio replay of the call will be available on the Airspan Web site for 30 days. A telephone replay of the call will also be available until July 27. The US toll-free number for the replay is 1-888-567-0671; international access number for the replay is 1-402-530-0413. Please reference the Airspan Networks second quarter conference call.

About Airspan Networks

Airspan provides wireless DSL systems and solutions to operators around the world with licenses in frequency bands between 900 MHz to 4 GHz, including both PCS and MMDS. The company has deployments with more than 56 operators in more than 40 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. More information on Airspan can be found at http://www.airspan.com

This press release contains forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are only predictions and actual results could differ materially from those anticipated in these statements based on those factors identified in the company's filings with the SEC. The words "believe", "expect", "intend", "anticipate", variations of such words and similar expressions identify forward-looking statements but their absence does not mean that the statement is not forward looking. Forward-looking statements in this press release include, without limitation, the statements that Airspan continues to believe in the opportunities in the market for wireless DSL networks and remains positive in our long term outlook. These statements are not guaranties of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this announcement.