Airspan Networks and Buggs Island Telephone Cooperative Announce $19 Million Contract for Next-Generation Broadband Deployment in Virginia

BOCA RATON, FL and BRACEY, VA--(Marketwire - Jun 14, 2011) - Airspan Networks Inc., a leading provider of broadband wireless access networks, and Buggs Island Telephone Cooperative (BIT) announced today the selection of Airspan 4G equipment for deployment in southern Virginia, USA.

BIT received two grants which will be used for infrastructure to deliver wireless broadband Internet access to residents and businesses in fifteen counties in south central Virginia. The grants include a government Broadband Stimulus award of $18.9 million dollars by the United States Department of Commerce's National Telecommunications & Information Administration (NTIA) as part of the American Recovery and Reinvestment Act (ARRA) and a $3.9 million dollars grant from Virginia Tobacco Indemnification and Community Revitalization Commission.

The project will provide 100 per cent coverage of residents and businesses in the Federal Communications Commission licensed serving area, offering a minimum of 1.5 Mbps (megabits per second) of service and up to 10 Mbps. The primary deployment phase will be completed within 12 months and has a projected subscriber base of upward of 30,000 customers within five years. Availability of access to broadband connectivity is one of the key elements for economic growth in the region. In addition, by creating this new business division, BIT will create 64 direct new jobs -- mostly in Mecklenburg and Brunswick Counties.

This next-generation dual-band network operates in both 700 megahertz (MHz) and 3.65 gigahertz (GHz) frequency bands. Due to its natural propagation characteristics, the 700 MHz product allows for optimum coverage and range, requiring fewer base stations and minimizing deployment costs. Built with Airspan's reputable product offering, the network consists of Airspan's Air4G base station, a compact, all-outdoor, Macro unit. The network is also supplemented for in-fill coverage with AirSynergy, a Pico base station with integrated backhaul.

"We are very excited to bring Airspan's advanced technology to our region and service community," commented Mickey L. Sims, General Manager at BIT. "With the support of the ARRA and Virginia Tobacco Commission funding programs, we have a vision of increasing broadband services in these underserved markets, reaching a previously unreachable population and allowing further expansion into rural Virginia. The speed-to-market enabled by Airspan not only supports the government's stimulus goals but will also assist us in achieving our business model objectives and providing broadband for everyone. BIT expects to be substantially built out by late March, 2012."

With over 50 years of experience, BIT has continued to serve south central Virginia with telephone services, Internet access, and retail computer sales, repair and services along with the Cooperative's well-known regional telephone directory. The company applied for Broadband Stimulus funds in 2009 in order to widely expand their service offerings to rural and underserved areas of the region.

"Airspan is very excited to work with BIT to bring broadband services to Virginia residents," commented Amit Ancikovsky, President of Products and Sales at Airspan Networks. "Airspan is able to provide BIT with a turnkey solution that is quick-to-deploy, cost effective and will maximize the network's return on investment."

Airspan products provide 4G WiMAX and LTE solutions operating in the 700 MHz up to 5.9 GHz bands.

About Buggs Island Telephone Cooperative

BIT Communications is committed to providing advanced technology and value added communication services to its customers at competitive prices while maintaining excellent customer service. Started in 1951 and with a rapid increase in members and telephone usage, the Cooperative has been hard pressed to keep facilities ahead of demand and technology. BIT has expanded its capabilities with a new billing and customer care system along with the state of the art wireless and broadband network. Currently serving the greater Lake Gaston and Buggs Island Lakes region of Southside Virginia, BIT will continue to provide the level of service its members have come to expect. BIT has been managed by Mickey L. Sims since March, 2004 and is governed by a nine-member elected Board of Directors. www.bit.coop

About Airspan Networks Inc.

Airspan (PINKSHEETS: AIRO) is a leading 4G wireless solution provider. With over 500 customers in over 100 countries and as a top vendor for carrier-class broadband wireless solutions, Airspan is recognized as a leader and pioneer in 4G and broadband wireless technologies. Providing an expansive product portfolio, Airspan offers customers the widest selection of 4G products in the industry with an unsurpassed level of technology to benefit their business case. Airspan has solutions spanning the 700 MHz to 6 GHz frequency bands. www.airspan.com.

Oak Investment Partners XI, Limited Partnership holds a controlling interest in Airspan. Airspan is not subject to the informational reporting requirements of the Securities Exchange Act of 1934 and, accordingly, does not file reports, financial statements, proxy statements, information statements or other information with the Securities and Exchange Commission. This press release contains forward-looking statements. 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. We do not assume any obligation to update any forward-looking statements.