Airspan Wins Contract With Neptuno Networks in Puerto Rico

BOCA RATON, FL--(Marketwire - August 18, 2008) - Airspan Networks, Inc. (NASDAQ: AIRN), a leading provider of WiMAX-based broadband wireless access networks and Neptuno Networks, a provider of advanced communications services and solutions in Puerto Rico and the Carribbean, announced today that the two companies have signed an agreement for the delivery of Airspan's WiMAX solutions in the 3.65 GHz frequency band. This first order launches Neptuno's planned island-wide network in Puerto Rico with an initial 100 base station sites.

Having only made generally available the 3.65 GHz products late last year, the response from the wireless industry has been enormous. More than 200 applications for spectrum have been made, and Airspan has signed up more than ten customers in the band in four months. Amit Ancikovsky, Airspan's America's Vice President and General Manager commented, "We've been delighted to see our products set the pace in this market. Our focus on price-performance and customer support is resulting in our significant lead in the 3.65 GHz market."

Pedro Andres, CEO of Neptuno Networks agrees, "We were impressed by Airspan's robust solutions and experience in this market. Their products' features optimize our business case, and their team has been very helpful throughout the decision process."

Neptuno is taking advantage of the full breadth of Airspan products. In Puerto Rico, they are deploying HiperMAX for high-density macro-base station sites and MicroMAX for low-density sites, fill-in coverage, and backhaul. For the rest of the Caribbean, Neptuno is boosting its distribution division, by formalizing a strategic relationship to represent Airspan's diversified product portfolio providing new and enhanced solutions and services customized for the demanding Caribbean Market.

The 3.65 GHz solution for the North American market is the latest addition to Airspan's product line, which already includes products for the 700MHz, 1.x-, 2.x-, 4.x- and 5x GHz bands.

About Neptuno Networks Inc.

Neptuno Networks, Inc., based in Puerto Rico, is a telecommunications and broadband systems integration service company offering the most advanced technology in wireless broadband systems. Neptuno Networks focuses on each client's specific needs to develop innovative, customized solutions. Neptuno's wide-ranging portfolio of services help customers build a solid business infrastructure and contribute to every stage of a customer's networking project.

About Airspan Networks Inc.

Airspan is the industry's leading WiMAX pure player, ranked #1 for IEEE802.16-2004 WiMAX revenue in 2007 and has now been selected for some of the world's largest mobile WiMAX deployments. 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 filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company's 2008 Quarterly Reports on Form 10-Q. 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. +561 395 4581 Email: clottomane@airspan.com