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<ACCESSION-NUMBER>0001144204-05-020753
<TYPE>8-K
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<ITEMS>2.02
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">UNITED
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        the
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        satisfy the filing obligation of the registrant under any of the following
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              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                NETWORKS, INC</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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              <td>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
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                Peter Aronstam</font></td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v021126_ex99-1.htm
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      Networks Inc</strong></font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
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      a
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      WiMAX standard systems, today announced preliminary second quarter
      results.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Revenues
      for the second quarter are expected to be in the range of $21 million,
      approximately 12% below the previous forecast of $23.8 million.&#160; The
      principal cause of this fall off was the lack of availability of a component
      used in the manufacture of some Proximity products.&#160; As a result, the
      Company was unable to fulfill all of the orders it had booked for June
      delivery.&#160; A new supplier of this component is now fully operational,
      and
      the Company expects improved revenues from this product line in the third
      quarter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">As
      a
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      than the previously forecast $2.9 million. Reduced revenues will yield reduced
      gross margins. The Company also incurred $0.5 million in unforeseen product
      and
      period costs in the quarter that it believes will be negated in future
      periods&#160;by cost reduction efforts.&#160; The Company also expects
      to take
      an additional restructuring charge of up to $1.2 million related to certain
      facility leaseholds and other items.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
      Company is providing preliminary third quarter revenue guidance in the range
      of
      $28 million. Commenting on the Company&#8217;s performance, Airspan&#8217;s President and
      CEO stated: &#8220;We are obviously disappointed with these preliminary results.&#160;
      However, order input in the second quarter was good, the third-quarter outlook
      is robust, and the strong response to our WiMAX product line introduction is
      encouraging for the longer term future of the Company.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The
      Company will provide full quarterly information and additional guidance in
      conjunction with its second quarter earnings release and conference call.&#160;
      It expects to report final results for the second quarter on August 3, 2005,
      with a conference call following the release.&#160; Details of the conference
      call will be announced in the near future. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><strong>About
      Airspan Networks Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Airspan
      Networks provides wireless voice and data systems and solutions, including
      Voice
      Over IP (VoIP), to both licensed and unlicensed operators around the world
      in
      frequency bands between 700 MHz and 6 GHz, including both PCS and 3.5GHz
      international bands. Airspan has a strong product evolution roadmap that
      includes offerings compliant with the new 802.16-2004 standard, and with
      built-in 802.16e capability.&#160; Airspan is on the Board and a founder
      member
      of the WiMAX Forum</font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">.&#160;
      The Company has deployments with more than 300 operators in more than 100
      countries. Airspan&#8217;s systems are based on radio technology that delivers
      excellent area coverage, high security and resistance to fading. Airspan&#8217;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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">More
      information on Airspan can be found at</font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><u>http://www.airspan.com</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">This
      press release contains forward-looking statements within the meaning of Section
      27A of the Securities Act of 1933 and </font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Section
      21E of the Securities Exchange Act of 1934.&#160; All statements, other than
      statements of historical facts, including statements regarding the strategy,
      future operations, financial position, future revenues, projected costs,
      prospects, plans and objectives of Airspan and its 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.&#160; Airspan may not actually achieve the plans,
      intentions or expectations disclosed in their forward-looking statements and
      readers should not place undue reliance on these forward-looking statements.
      Airspan is also subject to the risks and uncertainties described in its filings
      with the Securities and Exchange Commission, including Airspan&#8217;s Annual Report
      on Form 10-K for the year ended December 31, 2004.&#160; You should read
      those
      factors as being applicable to all related forward-looking statements wherever
      they appear in this press release. Airspan assumes no obligation to update
      any
      forward-looking statements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><strong><u>For
      inquiries, contact:</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><strong>Airspan
      Networks:</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Peter
      Aronstam&#160; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Chief
      Financial Officer</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Tel:
      +1
      561 893-8682</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Fax:
      +1
      561 893-8671</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Email:
      </font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><u>paronstam@airspan.com</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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</SUBMISSION>
