Airgo Announces Series C Investment

April 29, 2003 - Palo Alto, California - Airgo Networks, a developer of innovative Wireless Local Area Networking (WLAN) technology, today announced the successful completion of its Series C financing. The US $20M round was led by OVP Venture Partners, with active participation from all of Airgo's existing investors, including Accel, Sevin Rosen, and Nokia Venture Partners. Airgo develops technology that dramatically improves the speed, range, and reliability of wireless connectivity.

"Airgo's team comprises leaders who have deep experience and remarkable track records of success in wireless networking," said Chad Waite of OVP. "Our conversations with WLAN vendors and users confirmed that Airgo's innovative multiple antenna signal processing technology is years ahead of the competition and will cause a sea change in the WLAN marketplace." Mr. Waite of OVP will assume a Director position on Airgo's board.

"We are delighted to have OVP as part of the Airgo team as we prepare to introduce our technology to the marketplace" said Greg Raleigh, CEO of Airgo. We continue to make excellent product development progress and now have laboratory results that confirm the performance breakthrough that we predicted."

Airgo will use the funds to complete the productization of its revolutionary technology.

About Airgo
Airgo Networks, Inc. develops breakthrough technology and Wireless LAN products that enable mainstream adoption and new applications by vastly improving the quality and convenience of the Wireless LAN user experience. Airgo's networking solutions, based on the IEEE 802.11 standard (also known as Wi-Fi), reduce the cost of ownership for WLAN and remove limitations of today's WLAN products. Airgo's technology gives users secure, easy-to- use, standards-compliant WLAN capability that works in both the 2.4 GHz and 5 GHz bands. The breakthrough wireless technology provides performance for even the most bandwidth-intensive applications - truly eliminating the need for wires at home, at work, and in public places.

The core team at Airgo comprises a world-renowned group of wireless product and technology entrepreneurs from Cisco, Agere, Bell Labs, Nortel, Intel, Philips, and other companies. Airgo's founders include the founders of Clarity Wireless, a company that revolutionized OFDM wireless technology and was acquired by Cisco Systems in 1998. Airgo's founders also include key technologists from Agere who invented the latest generation of Wireless LAN standards technology. Airgo Networks, Inc. 900 Arastradero Road Palo Alto, CA 94304 T E L 650.475.1900 F A X 650.475.1708 www.airgonetworks.com Series C Ancmt 042103 v1, DRAFT - Airgo Confidential and Proprietary

The company's main office is in Palo Alto, California, USA, and it has development centers located in Fort Collins, Colorado and Breukelen, The Netherlands. News and information are available at www.airgonetworks.com

About OVP
OVP Venture Partners is a leading venture capital firm in the Pacific Northwest, with over $500 million in capital under management. The firm originates and leads investments in early-stage software, communications and business infrastructure companies. With offices in both Seattle and Portland, OVP has backed more than 70 companies - and has seen 22 of these achieve IPO's, with many others being acquired by large public entities. OVP closed on its sixth venture fund at $185 million last year and is one of the top ten U.S. funds closed in all of 2002.

Contact:
Carl Temme
Director of Marketing
Airgo Networks, Inc.
(650) 475-1903
ctemme@airgonetworks.com