Airspan Networks (AIRN) Received Notification That NASDAQ Extended the Suspension of its Bid Price Compliance Rule

December 29, 2008 12:49 PM EST

Airspan Networks Inc. (NASDAQ: AIRN) received notification that NASDAQ has extended its temporary suspension of the rules requiring a minimum $1 closing bid price or a minimum market value of publicly held shares until April 20, 2009. NASDAQ has said that it will not take any action to delist any security for these concerns during the suspension. NASDAQ has stated that, given the continued extraordinary market conditions, this suspension will remain in effect through Friday, April 17, 2009 and will be reinstated on Monday, April 20, 2009. Prior to the resumption of these rules NASDAQ will inform the Company of the number of calendar days remaining in the compliance period and the specific date by which the Company needs to regain compliance. If no further extensions or other amendments to these rules are made by NASDAQ, the Company currently expects that its specific date to regain compliance will be April 27, 2009.

Airspan previously received notification from the NASDAQ Stock Market advising that, for the previous 30 consecutive business days, the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion on the NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 4450(a)(5) (the "Rule").

Airspan Networks Inc. (Airspan) is a global supplier of broadband wireless equipment supporting the Worldwide Interoperability for Microwave Access (WiMAX) protocol standard, which provides telecommunication access network to connect end users to telecommunication backbone networks. [SM]

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