Airspan Announces New US$2.3 Million Service Contract With Yozan Inc.

BOCA RATON, FL -- (MARKET WIRE) -- January 11, 2007 -- Following the recent announcement of its successful completion of the Yozan Japan network optimization program, Airspan Networks, Inc. (NASDAQ: AIRN) today announced that it has entered into a new service agreement with Yozan for the continuing optimization and rollout of the network.

The new agreement is valued at approximately $2.3 million. Airspan is expected to provide both additional network optimization consulting and support services through to the end of April 2007. The service agreement will include WiMAX systems consulting, project management, radio planning services, training, and engineering support for Yozan's site selection and preparation. Airspan will also make services available to support installation, commissioning and maintenance by Yozan of the WiMAX-WiFi network.

"Yozan has been very pleased with the performance of the equipment since the optimization that took place in the third quarter 2006," said Mr. Kiyoshi Ohata, President of Yozan. "The new agreement will help us to deploy Airspan's equipment according to the best practices of the broadband wireless industry. Airspan has had considerable experience in deploying WiMAX networks elsewhere, and its knowledge of operators' practices will be very valuable to Yozan as it continues to deploy services in Tokyo."

Commenting on the new agreement, Henrik Smith-Petersen, Airspan's President Asia Pacific, said: "We are very pleased with the continuation of the network development with Yozan, which remains one of our most important customers. As an early adopter of WiMAX technology, Yozan is ready to become one of the leading users of WiMAX and WiFi broadband wireless equipment."

WiMAX™, WiMAX Forum™ and WiMAX Forum Certified™ are trademarks of the WiMAX Forum.

About Airspan Networks, Inc.

Airspan Networks provides fixed and wireless voice and data systems and solutions, including Voice Over IP (VoIP). Its wireless products serve operators around the world in both licensed and unlicensed frequency bands between 700 MHz and 6 GHz, including both PCS and 3.5GHz international bands. Airspan has a strong wireless product roadmap that includes products meeting 802.11 a/b/g Wi-Fi standards, and WiMAX Forum Certified™ equipment that includes software upgradeability to the Mobile WiMAX™ 802.16e-2005 standard. Airspan is on the Board and is a founder member of the WiMAX Forum and a member of the Wi-Fi Alliance. The Company has deployments in more than 100 countries with more than 400 operators, 100 of which use Airspan's WiMAX Forum Certified™ and non-certified products. Airspan's wireless systems are based on radio technology that delivers excellent area coverage, high security and resistance to fading. These systems can be deployed rapidly and cost effectively, providing an attractive alternative to traditional wired communications networks. Airspan's AS.TONE VoIP system is a carrier class, turnkey solution that provides carriers with Class 4, Class 5 and IP-Centrex solutions and has a Softswitch and Gateways supporting SIP/H323 and SIP. AS.TONE's design provides customers, carriers, next-generation telcos, cellular providers and ITSP with a wide range of solutions with the best price/performance system for IP telephony. Airspan also offers radio planning, network installation, integration, training and support services to facilitate the deployment and operation of its systems. Airspan is headquartered in Boca Raton, Florida with its main operations center in Uxbridge, United Kingdom.

More information on Airspan can be found at http://www.airspan.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) a slowdown of expenditures by communication service providers; (ii) increased competition from alternative communication systems; (iii) the failure of our existing or prospective customers to purchase products as projected; (iv) our inability to successfully implement cost reduction or containment programs; (v) the potential loss of Axtel and Yozan as our largest customers; and specific to this press release, (vi) our potential inability to locate and secure additional sources of capital at the time and in the amount needed; (vii) the possibility that Yozan will materially delay or cancel future equipment orders; (viii) our inability to cancel certain component orders and/or to use or sell any excess inventory we accumulate as a result of the Yozan contract amendment; (ix) disruption to our operations in Israel, including the absence of employees due to required military service caused by political and military tensions in Israel and the Middle East; and (x) specific to this press release, our ability to deliver the services to Yozan, and Yozan's ability to successfully deploy and operate the AS.MAX products and services. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended 31 December, 2005 and on its Form 10-Q for the quarters ended April 2, 2006, July 2, 2006 and October 1, 2006. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.

Contact Information: For Investment and Media Inquiries, contact: Airspan Networks David Brant Chief Financial Officer Airspan Networks, Inc. Tel: +1 561 893-8650 Fax: +1 561 893-8681 Email: Email Contact