GigaBeam Receives Order For WiFiber(R) Links From MABCO, Jordan.

HERNDON, Va. -- GigaBeam Corporation (NASDAQ:GGBM) announced today that it has received an order for three WiFiber[R] wireless fiber links from MABCO, which is headquartered in Amman, Jordan. MABCO is a wireless broadband provider specializing in telecommunication and office equipment solutions.

Hazim Alaeddin, Director of Operations at MABCO, said, "GigaBeam's WiFiber is the ideal solution for our strategy which is to establish very high speed broadband services in Amman. WiFiber's speed of deployment and the ease at which capacity can be upgraded, as we scale our operations, enables us to achieve rapid market access and revenue generation. We believe there is significant market potential for deployment of WiFiber in Jordan."

Lou Slaughter, GigaBeam's Chairman and CEO, stated, "We are excited to receive this order from MABCO. We believe our product has significant potential in the Middle East and North Africa ("MENA") region and expect to be receiving more orders throughout the region in the near future. Many cities throughout MENA can benefit from using our WiFiber to rapidly upgrade existing telecommunications infrastructures, which is exactly the application being addressed by MABCO."

GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. This portion of the spectrum has been authorized by the Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) for wireless licensed wireless commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam's founders.

GigaBeam's technology, utilizing these large blocks of contiguous spectrum, enables multi-Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols. The current speed achieved by GigaBeam's WiFiber G-1.25 product series is full duplex at one Gigabit-per-second (equivalent to 647 T1 lines or 1,000 DSL connections) which supports GigE protocol. GigaBeam previously announced its WiFiber G-2.7 series, to be released in Q4, 2006 and generally available in Q1, 2007, which will operate at 2.7 Gbps. The protocols to be supported by the G-2.7 product series include 2 x GigE (2 x 1 Gbps); OC-48 / STM-16 (2.488 Gbps); SMPTE 292M (1.485 Gbps) and both 1 and 2 Gbps fiber channel. GigaBeam also plans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 Gigabit Ethernet or OC-192 protocol standards.

GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be deployed in a day and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.

About GigaBeam Corporation

GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands. GigaBeam equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters is located at 470 Springpark Place, Suite 900, Herndon, VA 20170. For more information, visit www.gigabeam.com.

About MABCO

Modern Arabian Business Corporation (MABCO) was established in 1984. It has developed into a leader in the fields of telecommunication and office equipment solutions. MABCO specializes in importing, marketing, selling, distributing, and maintaining top of the line products from some of the most respected multi-national firms. For more information, visit www.mabco.com.jo.

Safe Harbor Statement

Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.