Airspan Networks Requests NASDAQ Hearing Regarding Listing Compliance.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 29, 2002

Airspan Networks, Inc. (Nasdaq:AIRN), a leading worldwide provider of fixed broadband wireless DSL networks, announced today that it filed a request for a hearing after receiving notification from NASDAQ that the Company does not currently comply with the minimum $1.00 per share bid price requirements for continued listing on the NASDAQ National Market as set forth in NASDAQ's Marketplace Rule (a)(5).

Eric Stonestrom, President and Chief Executive Officer, said: "We believe that we have strong arguments for continued listing and are hopeful that the progress we have made in recent months will be taken into consideration. As we work diligently to implement strategies to increase shareholder value and improve our financial performance, we remain focused on serving the needs of our customers. As regards our shareholders, we have initiated a four phase program to improve shareholder value: a) improvement of revenues through increased sales of our AS4000 products, b) reduction of operating expenses and conservation of cash, including our balance of approximately $58.3 million we had at the end of 3Q02, c) acquisition of the Marconi WipLL product line to expand our target customer base and provide further revenue growth, and d) approval of a share repurchase program as previously disclosed. We believe we have ample cash for the foreseeable future and had a total of $1.57 per share net of debt on hand as of the close of the last fiscal quarter."

Today the Company submitted its request for a NASDAQ Qualifications Panel hearing to consider its continued listing. The hearing has not yet been scheduled. It is expected that Airspan's common stock will continue to be traded on the NASDAQ National Market pending a final decision by the NASDAQ Qualifications Panel.

About Airspan Networks

Airspan Networks provides wireless DSL systems and solutions to both licensed and unlicensed operators around the world in frequency bands between 900 MHz to 4 GHz, including both PCS and 3.5GHz. The company has deployments with more than 102 operators in more than 57 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's main operations are based in Uxbridge, United Kingdom with a WipLL product research and development facility in Lod, Israel, employing approximately 60 people. 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. 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.