SOURCE: Airspan Networks Inc.

Airspan Networks Inc.

April 20, 2009 08:30 ET

Airspan Networks Inc. Files Form 15 to Suspend Exchange Act Reporting Obligations

BOCA RATON, FL--(Marketwire - April 20, 2009) - Airspan Networks Inc. (PINKSHEETS: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced that on April 20, 2009, in accordance with its previously announced intention, Airspan filed a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission ("SEC") to effect the termination of the registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934 ("Exchange Act").

Upon the filing of the Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, were immediately suspended. Airspan expects that the deregistration of its common stock will become effective 90 days after the date of filing of the Form 15 with the SEC. The Company is eligible to deregister its common stock because it has fewer than 300 holders of record of its common stock. Airspan had previously delisted from the NASDAQ Global Market by filing a Form 25 on April 10, 2009.

About Airspan Networks Inc.

Airspan is a leading WiMAX pure player and the solution-provider of choice for some of the world's largest WiMAX deployments. Developing leading-edge technology for broadband access and IP telephony, Airspan continues to supply operators around the world with best-of-breed solutions. With direct sales offices throughout Asia, EMEA and the Americas, a worldwide network of resellers and agents, and partnership alliances with major OEMs, Airspan boasts over 100 commercial WiMAX deployments worldwide. 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. The Company is subject to the risks and uncertainties described in its Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission on March 31, 2009. 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 Investor Relations and Media Inquiries, contact:

    David Brant
    Senior Vice President & Chief Financial Officer
    Airspan Networks Inc.
    Tel: +1 561 893-8650
    Fax: +1 561 893-8681
    Email: dbrant@airspan.com

    Charlotte Laurent-Ottomane
    Investor Relations
    Tel: +1 561 395 4581
    Email: clottomane@airspan.com