Wednesday, November 22, 2006

Alvarion Sells Cellular Mobile Unit to LGC Wireless

Alvarion completed the sale of its Cellular Mobile business unit ("CMU") to LGC Wireless, a privately-held supplier of wireless networking solutions for dense urban areas as well as inside public and private structures, for approximately $15 million in notes and the assumption of certain liabilities. The notes are due at the end of 2007 and 2008. One of the notes, in the principal amount of $7 million, is convertible into shares of common stock of LGC.

Alvarion's CMU business generated revenues of approximately $21 million in the first 3 quarters of 2006.


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