Airspan Deploys Australia's First Commercial WiMAX System With Buzz Regional Broadband

BOCA RATON, FL -- (MARKET WIRE) -- November 14, 2006 -- Airspan Networks, Inc. (NASDAQ: AIRN), a leading worldwide provider of WiMAX and Wi-Fi standards-based broadband wireless access networks, and carrier class Voice-over-Internet protocol (VoIP) solutions, today announced the recent successful deployment of Australia's first ever commercial WiMAX solution with regional carrier Buzz Broadband in Queensland, Australia.

Buzz Broadband is a locally based Carrier and ISP operating in the cities of Bundaberg, Maryborough, Hervey Bay and Childers. As an existing Airspan customer, Buzz Broadband has deployed broadband wireless services to date using Airspan ASWipLL systems for its 22 base stations and backhaul links. It is now expanding that network with Airspan's WiMAX products to deliver telecommunications services throughout the region as the only viable broadband alternative to incumbent Telstra for 150,000 people in and around its service area.

After trialing a number of vendor offerings, Buzz Broadband has selected and begun deployment of Airspan's AS.MAX equipment for the provision of broadband data and VoIP services to its customer base. To ensure that admission control and priority number (Emergency) calls can be supported in accordance with service level agreements (SLAs) with its customers, Buzz Broadband will apply Airspan's VoiceMAX as part of the broadband access network working in parallel with the quality of service (QOS) requirements of the 802.16 WiMAX Forum™ standard.

Buzz Broadband has significant licensed spectrum holdings in the 3.4GHz band, which further ensures that its customer SLAs can be offered and met. Airspan's AS.MAX solution will be rolled out across a 30,000 square kilometer region of Queensland where Buzz Broadband holds 3.4GHz licenses, providing high-speed broadband and VoIP connectivity at distances exceeding thirty kilometers from the base station sites. Initial deployments will consist of MicroMAX Base Stations, Airspan's low-cost high-performance WiMAX Forum CertifiedTM base station, which will be linked to Airspan's WiMAX Forum CertifiedTM ProST and EasyST subscriber units. The EasyST is the world's first "self installable" WiMAX Forum Certified™ modem. The EasyST and ProST both incorporate Intel's ProWireless 5116 chip.

Airspan's solution is the first WiMAX Forum Certified™ solution to be used in permanent commercial service in Australia. It is also the first time a WiMAX Forum Certified™ technology offering commercial services has been operated anywhere in licensed 3.4GHz spectrum in Australia.

The Airspan WiMAX equipment deployed by Buzz Broadband can be configured by software to operate on WiMAX Forum™ channel profiles enabling broadband services to be delivered at speeds exceeding those of ADSL-like services.

Garth Freeman, Buzz Broadband's CEO, stated: "The Airspan WiMAX equipment being deployed by Buzz Broadband heralds in a new era for Broadband, VoIP and Data services in regional and Rural Australia."

Airspan is a founding member of the WiMAX Forum and is committed to utilizing its technology in a variety of unique applications in order to highlight the significant market that its WiMAX product line will be targeting.

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

About Buzz Broadband Pty Ltd.

Buzz Broadband, a currently unlisted public company, is the new, modern image for the long established and respected dial-up internet company, Queenslander.net that had been servicing the internet needs of its communities since 1997.

Buzz Broadband has recognised the importance of universal access to broadband in regional Australia as being a key economic driver and its corporate philosophy is based upon deploying the means to deliver that objective across its region.

The primary objective of its infrastructure-based approach is to bypass the technical and financial limitations of the incumbent monopoly network. This approach delivers not only previously unimaginable broadband coverage but does so with innovative and highly competitive products the availability of which was either limited nor non existent in an uncompetitive marketplace.

Buzz Broadband believes that the future of telecommunications will be based on the Internet Protocol (IP) and IP will be used to not only surf the net, as we do today, but also to watch video on demand over IP, make telephone and video calls over IP and eventually automate our homes to improve our quality of life. Many Buzz customers across the region already see the value of the all IP network in telephone bills that have been reduced by up to 80%. Growing regional businesses that previously needed to move to capital cities to support their telecommunications requirements and control their costs now no longer leave and continue to invest and employ locally. By combining the Buzz Broadband and Buzz Phone services, medium sized businesses have increased capacity by over 1,000% while reducing costs by up to 60%. SME users have cut more than $1,000 of their monthly phone bills alone while doubling handset numbers.

Utilising a unique combination of licensed as well as class licensed (unlicensed) spectrum, Buzz has engineered a robust, carrier grade network across its coverage area from backhaul to access networks utilising multiple technologies and platforms. This approach ensures the most cost effective and efficient service delivery options required to support services from residential internet surfing to high capacity VPN applications for corporate clients.

To meet exponentially growing bandwidth demands, Buzz continues to invest heavily in current and new network capacity across its region with a specific focus on maintaining strict QoS, latency and contention policies needed to maintain the extremely high levels of customer satisfaction which have been instrumental in the tremendous growth experienced by the company since the launch of its wireless broadband network.

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 CertifiedTM equipment that includes software upgradeability to Mobile WiMAX (the 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 CertifiedTM 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 "targets", "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; (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) 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 (ix) specific to this press release, Airspan's ability to complete deliveries of equipment to Buzz Broadband and Buzz Broadband's ability successfully to deploy and pay for that equipment. 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 December 31, 2005 and its Form 10-Qs 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 media or Investment inquiries, contact: Airspan Networks: Peter Aronstam Chief Financial Officer Tel: +1 561 893-8682 Fax: +1561 893-8681 Email: Email Contact For inquiries, contact: Buzz Broadband: Garth Freeman CEO Tel: +61 1300 88 32 32 Fax: +61 7 4194 5555 Email: Email Contact