Airspan Networks Announces Fourth Quarter and Full Year 2006 Financial Results

Company Achieves 15% Revenue Growth in 2006

BOCA RATON, Fla. — February 28, 2006 - Airspan Networks Inc. (Nasdaq: AIRN) today announced its fourth quarter and full year financial results for the period ending December 31, 2006. Full year reported revenues for 2006 were a record at $127.8 million, up 15% from the $111.0 million reported for 2005. The Company reported revenues for the 2006 fourth quarter of $31.3 million, a decrease of 17% from the fourth quarter of 2005, but up 15% compared to the third quarter of 2006. The net loss attributable to common stockholders for the fourth quarter was $4.1 million or $(0.10) per share, against a loss of $3.3 million or $(0.08) per share in the fourth quarter of 2005. The net loss attributable to common stockholders for the full year 2006 was $38.4 million, or $(0.96) per share, compared to $15.1 million, or $(0.39) per share, for 2005. Net loss attributable to common stockholders in 2006 included a cost of $9.2 million, or $(0.23) per share, for the deemed dividend associated with an exchange and beneficial conversion of preferred stock in September 2006.
Fourth Quarter 2006 Business Highlights
· Launch of the HiperMAX Base Station platform, the industry’s first software-defined product for Mobile WiMAX.
· Record WiMAX revenue through our OEM channel partners, including HiperMAX customer wins with major Tier 1 carriers in Europe and Latin America.
· Development of the Triband USB subscriber device, which will enable WiMAX services to be delivered to portable devices such as laptop computers, continued on schedule; the product remains on track for end of 2007 introduction.
· Addition of the 5.8GHz frequency band to the MicroMAX Base Station product to address the unlicensed frequency market.
· WiMAX Forum CertificationTM of the MicroMAX 3.5GHz FDD Base Station.
· Successful interoperability testing of Airspan Wave 2 WiMAX at WiMAX Mobile plugfests.

The following information was filed by Airspan Networks Inc (AIRO) on Thursday, March 1, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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