TL Ventures and KGIF become newest investors to bring Airwalk's micro wireless base station system to market

December 15, 2003 -- Richardson, Texas - December 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 companys 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 AirWalks 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 (RAN) developer supplying voice and data platforms to address hotspots, blind spots and in-building/campus networks. Their products are modular, stackable and increases coverage and capacity to deliver the industrys first base station and base station controller in a single, inexpensive, compact platform. The Companys products operate on the global CDMA licensed frequencies and offer operator's new sources of revenue. A privately held company located in Richardson, Tx. Both Qualcomm and Telcoware are equity partners in AirWalk. www.airwalkcom.com

About TL Ventures
TL Ventures is investing its sixth venture fund since 1988. With over $1.4 billion under management, they have been actively engaged in the business of venture capital for well over 15 years, investing in 190 companies to date and distributing over $1.4 billion to its partners. TL's network of approximately 60 active portfolio companies, investment resources, professional contacts and service providers makes them one of the most active firms in the market. www.tlventures.com

About Korean Global IT Fund
Korean Global IT Fund, a Korean based venture capital firm, focuses on the IT sector and communications technology investments. The firm manages over $100m through KDB Capital, STIC Ventures and SFKT (Israel). KGIF has also been active in assisting Korean start-ups to enter the global market.