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GGBM News GigaBeam Receives Orders from Financial Institutions in New York

HERNDON, Va.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ: GGBM) announced today receipt of two purchase orders to install a total of two WiFiber^® wireless fiber links for deployment within the New York Metropolitan area. One of the orders is from a financial institution with more than $25 billion in aggregate capital under management and the second order is from a regional mortgage financial institution.

Lou Slaughter, Chairman and CEO of GigaBeam, stated “These orders are a significant testament for applications of our Company’s product. Financial institutions historically have been reluctant to deploy alternative technologies for mission critical applications. Deploying an alternative communications technology to serve as a primary communications link underscores the confidence these financial institutions have in our WiFiber links. These orders from well-known financial houses validates the application of our technology within the financial services sector.”

At the request of the customers the Company has withheld their names.

GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. This portion of the spectrum has been authorized by the Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) for licensed wireless commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam’s founders.

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 the first half of 2007, and which is designed to 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 rapidly deployed 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.