BOCA RATON, Fla. -- Airspan Networks, Inc. (Nasdaq: AIRN) today announced the acquisition of Radionet Oy, Ltd. of Finland in exchange for up to $1.88 million of cash. Airspan today paid approximately $1.75 million, in return for which 99.72% of the outstanding common stock and options of Radionet were tendered. Airspan will pay an additional $0.13 million if the outstanding balance of shares and options are tendered for sale by November 24, 2005.

Airspan Networks is a leading provider of broadband wireless access solutions for both licensed and unlicensed operators worldwide. A founding member of the WiMAX Forum, Airspan has a broad portfolio of wireless access products, including its recently-announced AS.MAX product family that is compliant with the IEEE 802.16-2004 standard (WiMAX) and upgradeable to the 802.16e version of the standard. The wireless product portfolio can also be combined with Airspan’s i-Tone softswitching platform, to deliver fully-integrated Voice over Internet Protocol (VoIP) services. Airspan has deployed network equipment with a capacity exceeding 1 million lines in more than 95 countries.

Established in 2000, Radionet is a leading provider of municipal wireless Hotzones, community networks, mobile broadband solutions for industrial applications, such as ports, mines and public transport, and link solutions for wireless backhaul and enterprises. Radionet’s environmentally-robust product portfolio, operating in unlicensed frequency bands using IEEE802.11 a/b/g Wi-Fi standards, delivers high performance connectivity with built-in bandwidth management and advanced security features.

The Radionet product architecture includes network and subscriber management capabilities and Radionet’s patented “MageIP”™ technology allows roaming within Hotzones, offering seamless mobility between access points and subnets in a wireless network.

With its headquarters in Espoo, Finland, Radionet operates through a network of certified distributors, value added resellers and systems integrators in Europe, the Middle East and the Americas.

In a broadband metrozone environment, Airspan believes that a mixture of WiMAX and Wi-Fi technologies will provide the most flexible combination of access and backhaul for IP-based based voice and data services. By acquiring Radionet, Airspan will be able to integrate its WiMAX and i-Tone products with Radionet’s Wi-Fi technologies in a mesh-like architecture that will allow Airspan to offer such combined systems on a turnkey, fully integrated basis, for both licensed and unlicensed frequency applications. Additionally, Airspan intends to leverage its worldwide sales and distribution network to address the significant growth in demand for stand-alone Wi-Fi Hotzone networks with the Radionet technologies, and to use those technologies as an extension of its wireless enterprise business in such markets as ports, public transport systems and in the mining sector.

“We are very pleased to be able to add the Radionet product portfolio to our current range of products”, said Eric Stonestrom, President and CEO of Airspan. “The market for wireless broadband connectivity is expanding rapidly, and a significant part of that growth is coming from agencies and internet service providers seeking the deployment of 802.11-based Hotzone networks. By adding Radionet’s expertise and products, Airspan will have the most advanced integrated set of products to meet this important growth area.”

Airspan Networks Inc.