Press Releases

Alvarion Informs Interwave that Amalgamation Agreement Cannot Be Completed Under Current Terms

Tel–Aviv, Israel, September 30, 2004 – Alvarion Ltd. (NASDAQ:ALVR), the global leader in wireless broadband solutions today announced that after reviewing interWave’s recent financial results as well as anticipated results going forward, it has determined that interWAVE has experienced a material adverse effect with respect to its business and has advised interWAVE that interWAVE will not be able to cause all of Alvarion's conditions to closing of the amalgamation to be satisfied. Alvarion has further advised interWAVE that it will not complete the amalgamation on the terms set forth in the amalgamation agreement and would be willing to discuss with Interwave concluding a transaction on different terms.

“These discussions pertain only to interWAVE’s business,” said Zvi Slonimsky, CEO of Alvarion. “We have not experienced any material changes in our business. We are expecting to report third quarter results in line with our guidance and the outlook remains strong,” continued Mr. Slonimsky.

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About Alvarion

With more than 2 million units deployed in 130 countries, Alvarion is the worldwide leader in wireless broadband providing systems to carriers, ISPs and private network operators. Leading the WiMAX revolution, Alvarion has the most extensive deployments and proven product portfolio in the industry covering the full range of frequency bands. Alvarion’s products enable the delivery of business and residential broadband access, corporate VPNs, toll quality telephony, mobile base station feeding, Hotspot coverage extension, community interconnection, and public safety communications. Alvarion works with several top OEM providers and over 200 local partners to support its diverse global customer base in solving their last-mile challenges.

As a wireless broadband pioneer, Alvarion has been driving and delivering innovations for over 10 years from core technology developments to creating and promoting industry standards. Leveraging its key roles in the IEEE and HiperMAN standards committees and experience deploying OFDM-based systems, the company's prominent work in the WiMAX ForumTM is focused on increasing widespread adoption of standards-based products in the wireless broadband market. For more information, visit Alvarion’s World Wide Web site at www.alvarion.com.

This press release contains forward -looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward -looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the in ability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in filings with the Securities and Exchange Commission.

Information set forth in this press release pertaining to third parties has not been independently verified by Alvarion and is based solely on publicly available information or on information provided to Alvarion by such third parties for inclusion in this press release. The web sites appearing in this press release are not and will not be included or incorporated by reference in any filing made by Alvarion with the Securities and Exchange Commission, which this press release will be a part of.

You may request Alvarion's future press releases or a complete Investor Kit by contacting Carmen Deville, Investor Relations: carmen.deville@alvarion.com or +1-760-517-3188.

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