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GGBM News GigaBeam Receives Order for WiFiber(R) from Leading European Telecom Carrier

HERNDON, Va.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM) announced today that it has received an initial order for two WiFiber® wireless fiber links from a leading European incumbent wireline and wireless carrier. The carrier is also one of the world’s largest mobile operators. The customer is headquartered in Europe and has operations in Europe and Asia with a subscriber base of greater than 75 million.

Lou Slaughter, Chairman and CEO of GigaBeam, stated, “We are excited to receive an initial order from this large European incumbent wireline and wireless carrier. This customer has operations spanning from Europe across the globe to Asia. We see significant opportunity for GigaBeam’s WiFiber product in multiple countries with this customer. This order follows recent approval by the European authorities for use of the 70GHz and 80GHz frequency spectrum and the granting of a CE mark (equipment certification) to GigaBeam for operation of WiFiber across Europe. Europe represents a substantial market for GigaBeam’s products. This order from a leading telecom carrier underscores the acceptance and potential application of WiFiber to be adopted for creating telecom infrastructures in metropolitan areas along with backhaul of mobile wireless services.”

GigaBeam’s technology, utilizing these large blocks of contiguous spectrum, enables multi-Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols. The current speed achieved by GigaBeam’s WiFiber G-1.25 product series is full duplex at one Gigabit-per-second (equivalent to 647 T1 lines or 1,000 DSL connections) which supports GigE protocol. GigaBeam previously announced its WiFiber G-2.7 series, to be released in Q4, 2006 and generally available in Q1, 2007, which will operate at 2.7 Gbps. The protocols to be supported by the G-2.7 product series include 2 x GigE (2 x 1 Gbps); OC-48 / STM-16 (2.488 Gbps); SMPTE 292M (1.485 Gbps) and both 1 and 2 Gbps fiber channel. GigaBeam also plans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 Gigabit Ethernet or OC-192 protocol standards.

GigaBeam’s WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be deployed in a day and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.

About GigaBeam Corporation

GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands. GigaBeam equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters is located at 470 Springpark Place, Suite 900, Herndon, VA 20170. For more information, visit www.gigabeam.com.

Safe Harbor Statement

Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.