IPWireless Secures over $27 Million in 
Additional Broadband Wireless Funding

Mobile Broadband Technology Vendor Prepares for More 
Global Deployments as Demand for the IPWireless Solution Accelerates

    IPWireless, Inc., enabling mobile broadband worldwide, today announced it had secured over $27 million in additional funding from all of its major existing investors as well as an external strategic investor. IPWireless closed on half of the amount immediately and will close on the remaining commitment within 180 days. This round of funding brings the company's invested capital to over $150 million since its founding in early 1999. IPWireless plans to use this funding to increase sales and marketing activities worldwide, and to support the delivery of a number of expected orders, as well as to continue its leading research and development efforts. Receiving additional funding in a difficult market is not only a significant endorsement of the IPWireless solution, but also validation of the company's business model and experienced executive team.

    "IPWireless's $27 million funding round places it as one of the largest wireless investments for 2002 to date," said Rajeev Chand, senior wireless analyst, Rutberg & Co. "To raise such a sizable round is clearly a significant achievement in the context of today's challenging venture climate. We continue to be bullish on the substantive opportunity offered by mobile broadband."

    "IPWireless has shown significant traction in a highly skeptical marketplace - proving not only that our technology is commercially ready, but also that operators can build a strong business case on our technology and that subscribers truly love the service," said Chris Gilbert, chief executive officer of IPWireless. "IPWireless continues to pave the way for a new era in mobile broadband computing, providing businesses and consumers with the most cost-effective, convenient, and widely available broadband in the world."

    Next-Generation Wireless Network Paves the Way for a New Era of Mobile Computing The IPWireless solution is the first total network solution on the market that complies with the internationally recognized UMTS TD-CDMA (TDD) standard. Available for operation in the 1.9-GHz and 2.5-GHz licensed bands (the UMTS unpaired allocations and the MMDS/MDS bands), the IPWireless product line includes a complete network infrastructure solution, PC cards (PCMCIA), and pocket-sized wireless modems. The IPWireless modem and cards allow residential and business customers instantaneous, "plug-and-play" Internet access. Additionally, the IPWireless non-line-of-sight technology achieves in-building coverage and gives users the complete portability, mobility and freedom of a wireless Internet connection at higher speeds than alternative broadband offerings.

    About IPWireless
    IPWireless, Inc. offers a groundbreaking, global standards-based broadband wireless technology solution that enables service providers to offer true high-speed mobile wireless Internet access to worldwide consumer and business markets. The IPWireless solution is in commercial deployment around the world by operators looking to deliver the most cost-effective, convenient, and widely available broadband that will deliver two-way data transmission speeds of up to 9 Mbps, mobility, affordability, and ubiquity of coverage superior to any broadband alternative - including DSL or cable modems. Founded in April 1999, IPWireless is led by a world-class management team of seasoned entrepreneurs and technology and marketing executives from leading mobile and communication companies including Cisco, Lucent, Motorola, and Qualcomm. The company, backed by over $150 million in funding from leading venture capital firms, is headquartered in San Bruno, California, with R&D and sales facilities based in the U.K. For more information about IPWireless, visit the company's Web site at www.ipwireless.com . 

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Contact: 
Elizabeth Safran
elizabeth@trainerpr.com