Ceragon Networks Ltd., Formerly Giganet Ltd., Announces Official NASDAQ Ticker Symbol Change to CRNT; New Name Reinforces Growth Strategy.

Business Editors

TEL AVIV, Israel--(BUSINESS WIRE)--Sept. 6, 2000

Ceragon Networks Ltd. (NASDAQ: CRNT), a global provider of high-capacity broadband wireless systems for next generation communications networks, announced today that its NASDAQ National Market symbol CRNT is effective immediately. Ceragon Networks Ltd., formerly Giganet Ltd., has changed the ticker symbol from GGNT to CRNT.

The ticker symbol change coincides with the company's name change in a focused initiative to communicate its evolution toward next generation networking equipment. Ceragon Networks Ltd. develops, manufactures and sells wireless networking systems that enable global communications service providers to immediately deploy high-capacity broadband infrastructures in metropolitan areas. Ceragon's intelligent wireless solutions create ultra-high capacity networks, allowing operators to provide high-speed Internet access and integrated data, video and voice services. Customers include new and existing communications services providers such as leading U.S. and International CLECs, ILECs, and ISPs.

"Changing the official NASDAQ ticker symbol to CRNT follows Ceragon Networks' name change announcement. The launch of our new name marks the progress of our company in shaping next generation networks," said Shraga Katz, president and CEO, Ceragon Networks Ltd. "At Ceragon, our clear vision of intelligent networks has positioned us to provide the most robust wireless solutions for high-capacity connectivity across metropolitan markets. Ceragon will continue to expand its offerings to better enable communications service providers to generate immediate revenue."

About Ceragon Networks Ltd.

Ceragon Networks Ltd. is a pacesetter in broadband wireless networking systems that enable global communications service providers to immediately deploy high-capacity connectivity in metropolitan areas. Uniquely designed for high-growth service providers to generate immediate revenue, Ceragon's commercially proven intelligent broadband network solutions support high-speed Internet access and integrated data, video and voice services. Ceragon's products enable quick and cost-effective connections for capacity constrained business customers within their own networks, or as a gateway onto the backbone infrastructure. Founded in 1996 and headquartered in Tel Aviv, Israel, with North American headquarters in New Jersey and European Headquarters in the UK, Ceragon Networks has achieved a global footprint with commercial deployments in over 20 countries. More information is available at www.ceragon.com. Ceragon Networks - the shape of next generation networks.

About the Name "Ceragon"

The name "Ceragon" is a combination of two concepts that embody the company vision. The word is a derivation of "paragon," a model of excellence, and "cerago," an ancient English word describing an element found in a honeycomb, symbolizing tight inter-workings. Together they form "Ceragon" -- a model of networking excellence. Ceragon, as a company, stands out as it shapes the broadband equipment market into the next generation of wireless networks.

Giganet Ltd. is not affiliated with Giganet, Inc., a privately held, Massachusetts-based company. As part of the resolution of a dispute concerning the company's rights, and the rights of Giganet, Inc. to use the name "Giganet," Giganet Ltd. changed its company name to Ceragon Networks Ltd.

Certain statements concerning Ceragon's future prospects are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. There can be no assurances that future results will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially from forecasts and estimates include: Ceragon's limited operating history and history of losses; fluctuations in quarterly financial performance; Ceragon's dependence on a limited number of key customers, independent manufacturers and suppliers; Ceragon's dependence on a limited number of products; Ceragon's ability to increase its manufacturing capacity; the demand for Ceragon's products; risks associated with changes in the competitive or regulatory environment in which Ceragon operates; and other risks described in filings with the Securities and Exchange Commission. These risks and uncertainties, as well as others, are discussed in greater detail in the filings of Ceragon with the Securities and Exchange Commission. Ceragon makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.