AirWalk’s advanced 1xEV-DO and 1xRTT platform in demand by CDMA operators

Richardson, Texas – October 16, 2006 – AirWalk Communications, Inc. http://www.airwalkcom.com, a leading provider of IP radio access network infrastructure, today announced the closing of a $15 million second round of equity financing to aggressively extend its leadership position in the fast-growing CDMA network market. The Company plans to intensify its presence in the mobile broadband market with its stand-alone 1xEV-DO Rev. A wireless infrastructure solution. In a market dominated by traditional wireless infrastructure vendors, AirWalk’s IP products uniquely address the need for a highly integrated compact platform to reduce overall network build-out costs and time-to-market.

The investment group syndicate was led by Sevin Rosen Funds, Dallas, TX (“SRF”) and included an additional investment from first round investor TL Ventures, Wayne, PA, and new investment from Alta Berkeley, London, U.K., and Duchossois Technology Partners, Chicago, IL. In connection with the financing, AirWalk has appointed four new members to its board of directors; Jon Bayless, General Partner of SRF, Bob Keith Managing Director of TL Ventures, Barun Dutta Senior Partner at Alta Berkeley and Tony Seth, a Partner with Duchossois.

AirWalk is led by an experienced team of wireless professionals that has helped the Company develop a uniquely integrated base station and controller into a single small radio access network unit. This stand-alone IP network element is configured to provide both data (1xEV-DO Rev. A) and voice (1xRTT) in a single compact unit, dramatically reducing capital investment and operational expenses. AirWalk’s growth initiatives include an extended focus on sales, networks for new domestic licensees, and further advancement of its core IP platforms.

“By leveraging the success of our 1xRTT product line we can now significantly increase the breadth of our broadband offerings as well as the depth of our support services,” said Serge Pequeux, President and CEO of AirWalk. “AirWalk’s portfolio of compact network elements and notable strategic partners deliver a complete cost effective IP cellular network to CDMA operators worldwide.”

“As wireless IP infrastructure networks move from early adopters to mainstream service providers and wireless standards focus on higher data rates we expect the IP content and applications of wireless operators to grow rapidly,” said Jon Bayless, General Partner of SRF. “With its advanced wireless IP network products and broad base of innovation, AirWalk is well-positioned to be the global leader in this growing market.”

About AirWalk
AirWalk Communications, Inc., Richardson, Texas, is a CDMA radio access network (RAN) developer of 3G voice and data platforms.The Company has developed the wireless industry’s first voice and data IP base station (BTS) with base station controller (BSC) in a fully integrated single unit. The Company’s line of products meets the growing market demand for urban wireless operators and sparsely populated markets, while supporting network hotspots, blindspots and enterprise networks.AirWalk’s product is modular, stackable and increases coverage and capacity to deliver a single, inexpensive, compact platform.The Company's radio products operate on the global CDMA licensed frequencies and offer operators new sources of revenue while substantially improving return on infrastructure investment by reducing overall network build-out costs and time-to-market. AirWalk is addressing an emerging market opportunity with the deployment of next generation CDMA networks with its1xEV-DO Rev. A all-in-one integrated IP radio node (RN) and radio node controller (RNC) platform.

About Sevin Rosen Funds
Sevin Rosen Funds is a respected, top tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early stage investments in pioneering technologies and companies with the potential to create new markets. Historically, these have included telecommunications, computer hardware, enterprise software and semiconductor companies.Today, the Sevin Rosen portfolio contains optical networking systems and components, wireless communications and Internet infrastructure software and service companies. Compaq, Lotus, Cypress Semiconductor, Citrix, CIENA Systems and Capstone Turbine are representative of some of the firm's successful IPOs. For more information, please go to www.srfunds.com.

About TL Ventures
TL Ventures is an established venture capital firm with over $1.4 billion under management. Focused on investing in category-defining, early-stage companies in information technology, communications and biotechnology, the firm provides portfolio companies with operational, entrepreneurial and financial expertise and a global network of resources and contacts. TL Ventures has a network of offices in Pennsylvania and California. For more information, please go to www.tlventures.com.

About Alta Berkeley
Founded in 1982, Alta Berkeley is one of the pioneers of early stage venture capital in Europe. Since inception, the firm has focused on early-stage European technology companies in the Communications, Information Technology and Life Science sectors. It has backed over one hundred companies to date, 22 of which have gone on to successful IPOs in Europe and US and is currently investing from its sixth fund. Recent investments include Castify Networks, Dune Networks, m-spatial, Native Networks, Polatis, Synad and Xtellus. For more information, please go to www.altaberkeley.com.

About Duchossois Technology Partners
Duchossois Technology Partners (“DTEC”) is a leading Midwest venture capital firm based in Chicago with offices also in Austin, Texas. DTEC is dedicated to helping entrepreneurs build successful enterprises and takes a value-added approach to investing. DTEC invests in early-stage companies and focuses on networking, semiconductors, and software.For more information, please go to www.duchtec.com.