Ceragon Networks Signs Frame 
Agreement with Belgacom SA 

Company Receives Initial Order from Belgium's Incumbent 
for Supply of High-Capacity IP Networking Equipment

    TEL AVIV, Israel, Dec. 3, 2002 - Ceragon Networks(R) Ltd. (Nasdaq:CRNT), www.ceragon.com, a global provider of high-capacity broadband wireless systems, today announced that it signed a frame purchase agreement with Belgacom SA, Belgium's leading supplier of global telecommunications services, and that it received an initial order.

    Ceragon was selected as a supplier of high capacity wireless IP networking equipment to deliver end customers with Fast Ethernet connections. Ceragon's innovative IP solution enables the flexibility and scalability to accommodate increasingly complex applications for a growing number of subscribers at the highest level of quality.

    "The selection by Belgacom, Belgium's largest telecommunications service provider, reinforces Ceragon's position as a leading supplier of wireless transmission solutions," said Shraga Katz, president and CEO, Ceragon Networks Ltd. "At Ceragon, we continue executing our growth strategy. An important component of this strategy is building a solid customer base by strengthening our list of leading incumbents worldwide."

    About Ceragon Networks Ltd.
    Ceragon Networks Ltd. (Nasdaq:CRNT), a pacesetter in broadband wireless networking systems, enables the rapid and cost-effective deployment of high-capacity network connectivity. Ceragon's FibeAir(TM) product family was uniquely designed for cellular operators, enterprises and communications service providers to progressively build networks to meet the growing demand for value-added broadband services. The modular FibeAir system operates across multiple frequencies from 7 to 38 GHz and supports integrated high-capacity services over IP, SONET/SDH and ATM networks. Ceragon's equipment complies with North American and international standards and is installed with over 100 customers in more than 35 countries.

    Ceragon was the first fixed wireless technology provider to break the 155 Mbps capacity barrier in high-frequency bands and the first to commercially deploy a wireless 311 Mbps system. Recently, Ceragon announced another industry first -- a high capacity fixed wireless system with a built-in SONET/SDH add-drop multiplexer (ADM). More information is available at www.ceragon.com.

    About Belgacom SA
    Belgacom SA, headquartered in Brussels, is the leading supplier of global telecommunications solutions on the Belgian market. The company is owned by the Belgian state (50% + one share) and ADSB Telecommunications (50% - one share), an international consortium made up of SBC, Singapore Telecom, TDC and a group of investors from the financial sector. Belgacom is the leading supplier of global telecommunications solutions on the Belgian market. The Belgacom group mainly offers local, intercity and international voice and data services, cellular telephone services, satellite services, carrier services and all Internet-related services. For more information about Belgacom, visit http://www.belgacom.be

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             CONTACT: 
             GAJ Services Inc.
             Linda Pitt, 859/291-1005
             lpitt@gajservices.com
             or
             Ceragon Networks Ltd.
             Liat Zilberman, +972-3-766-8430
             liatz@ceragon.com