Damovo and Ceragon Networks Announce Global Agreement

Damovo’s Expertise in Converged Networks Expands to Include Ceragon’s Fixed Broadband Wireless Technology for Enterprises and Communication Service Providers

London, U.K., 27 January 2003- Global services company, Damovo, and Ceragon Networks Ltd. (NASDAQ: CRNT), a global provider of high capacity broadband wireless systems, today announced the formalization of a joint, worldwide business agreement. Under the terms of the agreement, Damovo will add Ceragon’s FibeAirâ„? product family to its portfolio of advanced business communications solutions for enterprises and communication service providers.

Pearse Flynn, CEO Damovo, said, “This alliance with Ceragon will enable Damovo to offer rapid and cost-effective connectivity between remote sites, thus offering an alternative to fixed wire lines without compromising availability.” Flynn added, “The strength and flexibility of Ceragon’s technology will enable us to meet the market’s emerging needs for carrier-class networks.”

“At Ceragon, building relationships with leading service companies such as Damovo is part of our strategy to expand our global presence,” said Shraga Katz, president and CEO, Ceragon Networks Ltd. “This strategic agreement, given Damovo’s global footprint, impressive customer-base and reputable expertise in consultancy, design, implementation and management services worldwide, enhances Ceragon’s position as a leading provider of high-capacity networking equipment.”

About Damovo
Damovo is a global services company delivering world-class corporate communications.

Through consultancy, design, implementation and management, Damovo delivers advanced solutions in the following areas: data and converged networks, mobile solutions, e-collaboration, voice enabled solutions, enterprise relationship management and managed services.

Damovo’s portfolio of solutions combines best-of-breed technology from the world’s leading suppliers.

Damovo has an International client list of over 26,000 organisations and employs over 2,200 staff. The company has an annual turnover of nearly €1bn and 19 offices worldwide across Europe, the Americas and Australasia.

Principal territories for Damovo are: Australia, Brazil, Germany, Italy and the UK. In addition Damovo has operations in Argentina, Belgium, Colombia, The Czech Republic, France, Hungary, Ireland, Mexico, Poland, Portugal, Slovakia, Sweden, Switzerland and Venezuela.

Visit Damovo at www.damovo.com

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 FibeAirâ„? 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 6 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 40 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.

Ceragon Networks® and CeraView®, are registered trademarks of Ceragon Networks Ltd., and Ceragonâ„?, FibeAirâ„?, ConfigAirâ„?, CeraMonâ„?, EtherAirâ„?, QuickAirâ„?, QuickAir Partner Programâ„?, QuickAir Partner Certification Programâ„?, QuickAir Partner Zoneâ„?, EncryptAirâ„? and Microwave Fiberâ„? are trademarks of Ceragon Networks Ltd.

This press release may contain statements concerning Ceragon’s future prospects that are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially from forecasts and estimates include: Ceragon’s limited operating history and history of losses; Ceragon’s dependence on a limited number of key customers, independent manufacturers and suppliers; and the demand for Ceragon’s products and technology. These risks and uncertainties, as well as others, are discussed in greater detail in Ceragon’s Annual Report on Form 20-F and Ceragon’s other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made.

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