Ceragon Networks Signs Frame Agreement with Belgacom SA; Company Receives Initial Order from Belgium's Incumbent for Supply of High-Capacity IP Networking Equipment.

Business Editors/High-Tech Writers

TEL AVIV, Israel--(BUSINESS WIRE)--Dec. 3, 2002

Ceragon Networks(R) Ltd. (Nasdaq:CRNT), www.ceragon.com, a global provider of high-capacity broadband wireless systems, today announced that it signed a frame purchase agreement with Belgacom SA, Belgium's leading supplier of global telecommunications services, and that it received an initial order.

Ceragon was selected as a supplier of high capacity wireless IP networking equipment to deliver end customers with Fast Ethernet connections. Ceragon's innovative IP solution enables the flexibility and scalability to accommodate increasingly complex applications for a growing number of subscribers at the highest level of quality.

"The selection by Belgacom, Belgium's largest telecommunications service provider, reinforces Ceragon's position as a leading supplier of wireless transmission solutions," said Shraga Katz, president and CEO, Ceragon Networks Ltd. "At Ceragon, we continue executing our growth strategy. An important component of this strategy is building a solid customer base by strengthening our list of leading incumbents worldwide."

About Ceragon Networks Ltd.

Ceragon Networks Ltd. (Nasdaq:CRNT), a pacesetter in broadband wireless networking systems, enables the rapid and cost-effective deployment of high-capacity network connectivity. Ceragon's FibeAir(TM) product family was uniquely designed for cellular operators, enterprises and communications service providers to progressively build networks to meet the growing demand for value-added broadband services. The modular FibeAir system operates across multiple frequencies from 7 to 38 GHz and supports integrated high-capacity services over IP, SONET/SDH and ATM networks. Ceragon's equipment complies with North American and international standards and is installed with over 100 customers in more than 35 countries.

Ceragon was the first fixed wireless technology provider to break the 155 Mbps capacity barrier in high-frequency bands and the first to commercially deploy a wireless 311 Mbps system. Recently, Ceragon announced another industry first -- a high capacity fixed wireless system with a built-in SONET/SDH add-drop multiplexer (ADM). More information is available at www.ceragon.com.

Ceragon Networks(R) is a registered trademark of Ceragon Networks Ltd. and Ceragon(TM), FibeAir(TM), ConfigAir(TM), CeraView(TM), CeraMon(TM), EtherAir(TM), QuickAir(TM), QuickAir Partner Program(TM), QuickAir Partner Certification Program(TM), QuickAir Partner Zone(TM), EncryptAir(TM) and Microwave Fiber(TM) are trademarks of Ceragon Networks Ltd.

About Belgacom SA

Belgacom SA, headquartered in Brussels, is the leading supplier of global telecommunications solutions on the Belgian market. The company is owned by the Belgian state (50% + one share) and ADSB Telecommunications (50% - one share), an international consortium made up of SBC, Singapore Telecom, TDC and a group of investors from the financial sector. Belgacom is the leading supplier of global telecommunications solutions on the Belgian market. The Belgacom group mainly offers local, intercity and international voice and data services, cellular telephone services, satellite services, carrier services and all Internet-related services. For more information about Belgacom, visit http://www.belgacom.be

This press release may contain statements concerning Ceragon's future prospects that are ``forward-looking statements'' under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance 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; Ceragon's dependence on a limited number of key customers, independent manufacturers and suppliers; and the demand for Ceragon's products and technology. These risks and uncertainties, as well as others, are discussed in greater detail in Ceragon's Annual Report on Form 20-F and Ceragon's other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made.