AirWalk Secures $8m In Private Equity Funding; TL Ventures and KGIF become newest investors to bring AirWalk's micro wireless base station system to market

RICHARDSON, Texas--()--Dec. 15, 2003--AirWalk Communications Inc., a wireless CDMA Radio Access Network (RAN) developer, has accepted $8 million in equity capital from TL Ventures and the Korean Global IT Fund (KGIF). The funds are targeted to expand the company's global reach and accelerate the deployment of its integrated, voice and data IP micro base stations for wireless operators and enterprises. Initially the company has concentrated on the Asian market where it has already secured major contracts with both Korean and Japanese operators.

Airwalk's AW-32 allows cellular operators the ability to provide reliable, in-building or campus coverage on their licensed frequencies. While the traditional large coverage area cell-sites have satisfied the outdoor and mobile subscribers' needs, these subscribers are now demanding seamless coverage within buildings to support "in the office" cell phone usage.

Worldwide, operators see this as an opportunity to capture increased minutes-of-use as well as enter the enterprise or hot spot market. Recent CDMA technology developments have enhanced this opportunity by offering faster wireless data rates - an area which will improve subscriber usage and enhance operator profitability.

"We believe that reliable coverage and capacity of cellular networks will drive the next round of enterprise and campus networks for the licensed CDMA operators", said Eric Rothfus, Managing Director at TL Ventures and a member of AirWalk's board of directors. "AirWalk is well positioned to take advantage of this market with its unique IP micro base station and controller assembled in one unit."

"Our investment in AirWalk illustrates the tremendous potential for cost-effective radio access products in today's CDMA networks", commented Kevin Lim, managing director at STIC Ventures which runs the KGIF fund. "The team at AirWalk have assembled products that are ahead of the technology curve and are poised for growth in the next generation networks."

Serge Pequeux, CEO of AirWalk said, "This investment allows us to accelerate our aggressive plan and to expand our reach in the enterprise space while increasing revenues for the wireless operators. The confidence shown by the investment community, especially in today's telecom environment, speaks volumes about the resurgence of the wireless infrastructure market and our model for providing cost effective radio access alternatives."

About AirWalk

AirWalk Communications Inc. is a CDMA Radio Access Network developer addressing hotspots, blind spots and in-building/campus networks. For more information visit www.airwalkcom.com.

About TL Ventures

TL Ventures is investing its sixth venture fund since 1988. With over $1.4 billion under management. www.tlventures.com.

About Korean Global IT Fund

Korean Global IT Fund focuses on the IT sector and communications technology investments managing over $100m through KDB Capital, STIC Ventures and SFKT (Israel).

Contacts

Platinum TechCom
Kelli Luneborg, 214-367-8777
Cell: 214-616-4845
kluneborg@msn.com

Contacts

Platinum TechCom
Kelli Luneborg, 214-367-8777
Cell: 214-616-4845
kluneborg@msn.com