Airspan and Yozan to Build Japan’s First WiMAX Network; Combined WiMAX and Wi-Fi Solution Will Deliver Self-installable Voice, Video and Data Services

HANOVER, Germany -- March 11, 2005 -- Airspan Networks, Inc. (Nasdaq:AIRN), a leading provider of broadband wireless solutions, and YOZAN Inc. (Jasdaq:6830), a leading telecommunications operator providing services throughout the Tokyo Metropolitan area, have reached an agreement to deploy a Tokyo-wide WiMAX network. The Yozan MetroZone will deliver high speed IP connectivity, and support Voice, Video and broadband data services.

Airspan and Yozan will commence trials of AS.MAX products in the second quarter of 2005 and commercial rollout will begin in the fourth quarter of the year, to be ready for a December 2005 launch. Airspan expects to complete deliveries of the base stations by the end of March 2006. The contract is valued in excess of $12 million.

The initial network will be based on a rollout of 600 cells in central Tokyo, and it will gradually expand to provide coverage throughout the greater Tokyo Metropolitan area and surrounding eight prefectures. This project will use Airspan’s software-upgradeable radio technology, which will initially support 802.16-2004 and will later be upgraded to support 802.16e. Customers on this network will use Airspan’s unique Self-Installable Indoor WiMAX customer premises equipment (“CPE”), called EasyST. This CPE provides WiMAX connectivity to the Base Station and Wi-Fi coverage inside the customer premises via its integrated Wi-Fi Access Point.

Henrik Smith-Petersen, President of Asia Pacific for Airspan Networks, said: “This network, in one of the world’s top five cities, will be the first major deployment of a WiMAX Metropolitan Area Network. We are extremely pleased to be able to partner with Yozan, whose vision of pervasive broadband we share.”

Mr. Takatori, Yozan’s President and CEO said: “Yozan will provide its customers in Tokyo with a brand-new type of broadband service that can support IP Phones, video services and Nomadic and Portable broadband. We are pleased to be working with Airspan Networks, the leading provider of WiMAX equipment.”

About Airspan Networks Inc.

Airspan Networks provides wireless voice and data systems and solutions, including Voice Over IP (VoIP), to operators around the world in both licensed and unlicensed frequency bands between 700 MHz and 6 GHz, including both PCS and 3.5GHz international bands. Airspan has a strong product roadmap that includes offerings compliant with the new WiMAX 802.16-2004 standard, and software upgradeability to 802.16e from the time the WiMAX products are introduced. Airspan is on the Board and a founder member of the WiMAX Forum. The Company has deployments with more than 300 operators in more than 95 countries. Airspan’s systems are based on radio technology that delivers excellent area coverage, high security and resistance to fading. Airspan’s systems can be deployed rapidly and cost effectively, providing an attractive alternative to traditional wired communications networks. Airspan also offers radio planning, network installation, integration, training and support services to facilitate the deployment and operation of its systems. Airspan is headquartered in Boca Raton, Florida with its main operations center in Uxbridge, United Kingdom.

More information on Airspan can be found at http://www.airspan.com

About Yozan Inc.

YOZAN Inc. is a venture company that owns and operates licensed-frequencies over PHS (1.9GHz) and pager (280MHz) networks. The company is focused to expand its telecommunications business by building a wireless IP network through the renovation of its PHS infrastructure and to offer IP-based mobile handset services throughout the Tokyo Metropolitan Area using WiMAX-based equipment. YOZAN is poised to stir new business opportunities in Japan and dedicated to contribute to the reinforcement of WiMAX as a global standard. Yozan is headquartered in Tokyo, Japan.

More information on Yozan can be found at http://www.yozan.co.jp

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 “targets”, “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. These risk factors include, without limitation: (i) a slowdown of expenditures by communication service providers; (ii) increased competition from alternative communication systems; (iii) the failure of our existing or prospective customers to purchase products as projected; (iv) our inability to successfully implement cost reduction or containment programs; (v) a loss of any of our key customers; (vi) our ability to retain Axtel, Mexico, as our largest customer; (vii) our ability to continue to sell the Proximity products on terms and conditions comparable to those currently utilized, and (viii) particularly with respect to this press release, our ability to complete the WiMAX certification of the AS.MAX product family, the successful completion of AS.MAX trials, and the ability of Yozan to purchase and successfully deploy its WiMAX networks. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2003. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.

Contact Information

Peter Aronstam

Media Contact

Airspan Networks, Boca Raton, Fla.

Contact via E-mail