BOCA RATON, FL -- (Marketwire) -- 03/31/09 -- Airspan Networks Inc. (NASDAQ: AIRN)

Highlights

--  Company files Form 10-K for year ended December 31, 2008 containing
    full year 2008 results
--  Intention to voluntarily delist the Company's common stock from NASDAQ
    and deregister its common stock under the Securities Exchange Act of 1934
--  Common stock expected to continue trading in the Pink Sheets
--  Amended bank agreement reached with Silicon Valley Bank
    

Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced that it had filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2008, which included among other things, complete financial results for the full year 2008. Reference is herein made to the information set forth in the 10-K including the financial statements and management's discussion and analysis of results of operations, business description, and risk factors set forth therein.

Delisting and Deregistration of Airspan's Common Stock Under the Securities Exchange Act of 1934

Airspan intends to voluntarily delist its common stock from the NASDAQ Global Market by filing a Form 25 with the Securities and Exchange Commission on April 10, 2009. Thereafter, effective April 20, 2009, the common stock will be delisted from the NASDAQ Global Market. After that date, the common stock will be quoted in the over-the-counter market in the "Pink Sheets," a centralized electronic quotation service for over-the-counter securities. Airspan expects its common stock will continue to trade in the Pink Sheets, so long as market makers demonstrate an interest in trading in the Company's common stock. A new ticker symbol for trading on the Pink Sheets will be provided as soon as it becomes available. There is no assurance that Airspan's common stock will continue to be actively traded on the Pink Sheets or on any other quotation medium.

Following such delisting, Airspan intends to deregister its common stock under the Securities Exchange Act of 1934 (the "Exchange Act"), and become a non-reporting company under the Exchange Act. On or about April 20, 2009, Airspan intends to file with the SEC a Form 15, Notice of Termination of Registration and Suspension of Duty to File, to terminate its reporting obligations under the Exchange Act. When Form 15 has been filed, the obligation to file reports, and other information under the Exchange Act, such as Forms 10-K, 10-Q and 8-K will be suspended. The deregistration of Airspan's common stock under the Exchange Act will become effective 90 days after the date on which the Form 15 was filed.