Boca Raton, FL, October 24, 2011– Airspan Networks Inc., a leading provider of broadband wireless access networks, announced today that its revolutionary LTE Pico cell, AirSynergy, has been selected as a finalist in the 4G World Awards category of “Best overall innovation in mobile.” Final winners will be announced at the 4G World event being held October 24-27 in Chicago, Illinois.

AirSynergy is the world’s first multi-standard pico eNodeB that tightly integrates high capacity wireless backhaul, designed to allow operators to economically deploy urban heterogeneous 4G networks, and create sustainable 4G broadband networks in rural areas. The product is a highly compact, software defined radio base station providing the flexibility to support multiple Radio Access Network (RAN) standards and wireless backhaul simultaneously.

AirSynergy solves the four critical problems associated with 4G small cell deployments:

• It is economic to deploy for small numbers of users
• Has an optimized form-factor that is “Rapidly Deployable” and “De minimis”
• Includes a cost effective, point-to-multipoint, non-line-of-sight backhaul solution that supports relay
• Delivers end-to-end Quality of Service (QoS) over access and backhaul radio interfaces

 AirSynergy will allow 4G LTE and 4G WiMAX carriers to significantly increase the data handling capacity of their network by deploying wireless pico nodes close to the user base on existing street poles such as lamp posts and utility poles. Spanning licensed frequency bands between 450 MHz and 6 GHz, AirSynergy supports several RAN standards including:

• WiMAX 802.16d and 802.16e
• LTE release 8.0 and 9.0, both TDD and FDD
• Optional support for GSM/Edge and UMTS HSPA+
• High capacity point-to-multipoint relay backhaul

 “AirSynergy is a revolutionary new product that will enable carriers to deploy 4G into locations that have never been accessible or sustainable before,” said Airspan CEO Eric Stonestrom. “For the multitude of network capacity and coverage challenges arising from widespread adoption of smart phones, AirSynergy is a compelling proposition.”

The Best of 4G Awards recognize the top companies, products and innovations within the wireless and mobile supply ecosystem. Final selection of winners will be made by an independent committee, and a special Best in Show at 4G World Award will be voted on by conference attendees. Winners will be announced at the 4G World 2011 VIP Party later today.

Airspan’s new suite of LTE RAN solutions including AirSynergy, as well as other groundbreaking equipment such as the Air4G family are on display at 4G World this week in booth #1815.

About Airspan Networks Inc.
Airspan (OTC Markets: 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.