Airspan WiMAX Network Presented to Russian and Armenian Presidents

BOCA RATON, FL--(Marketwire - October 24, 2008) - Airspan Networks, Inc. (NASDAQ: AIRN), a leading provider of WiMAX-based broadband wireless access networks announced that earlier this week, an official ceremony was held in Yerevan, the capital of Armenia, to launch Comstar's nation-wide, WiMAX communications network powered by Airspan equipment. At the ceremony, Comstar's CEO presented Airspan's award-winning MiMAX Q-Series USB devices to Russian President, Dmitry Medvedev and President of Armenia, Serge Sarkisyan.

Comstar, the largest integrated telecommunications provider in Russia and CIS, has deployed Airspan's WiMAX equipment to create a combined fixed and mobile network. The network, which currently comprises 24 base stations, covers Yerevan and 18 additional cities, offering Armenian residents and businesses high-speed Internet, VoIP, video conferencing and mobile services.

During the ceremony, the Presidents of both States participated in a real-time two-way video conference with a medical diagnostics center and were briefed on a pilot deployment for mobile WiMAX in the city of Armavir. Both the video link and the mobile deployment are enabled via Mobile WiMAX links supported by Airspan's EasyST indoor subscriber stations.

Sergey Pridantsev, President and Chief Executive Officer of Comstar UTS, commented: "This national WiMAX network is a unique project for Armenia, and one of the first projects of its kind worldwide. Airspan was able to supply us with a superior solution to meet our requirements, enabling us to deliver modern communications services that help improve quality of life as well as bring telephony services and broadband internet access to some homes for the first time ever."

"We are very proud to partner with Comstar in such a revolutionary project," stated Anders Rendahl, Airspan's Senior Vice President & General Manager EMEA. "The attendance of the Presidents of Russia and Armenia to this ceremony only highlights the importance of the life-changing effects a network such as this can have on a country like Armenia. We look forward to further expansion of the Comstar network in 2009 and to continuing to help revolutionize fixed and mobile communications in this important and growing economy."

About Comstar

Comstar-United TeleSystems JSC is the leading fixed-line telecommunications company in Moscow. Comstar provides voice, data, television and other value-added services to residential and corporate subscribers and operators, using its extensive backbone network and exclusive last mile access to 97% of Moscow households. The Company also offers communications services in five Russian regions, Armenia and Ukraine. Comstar had 3.6 million residential subscribers and 783 thousand residential broadband internet subscribers in Moscow, as well as 49 thousand residential regional and international broadband internet subscribers at the end of June 2008. Comstar generated US$ 834.2 million of revenues and a 39.5% OIBDA margin for the six months ended June 30, 2008. Comstar's Global Depositary Receipts are listed on the London Stock Exchange (ticker: CMST). For details, please visit: http://www.comstar-uts.ru.

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.

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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-Ottoman Investor Relations Tel. +561 395 4581 Email: clottomane@airspan.com