Notas de Imprensa

Alvarion to Double Share Buyback Program

 
Tel – Aviv, Israel, June 9, 2003 – Alvarion Ltd. (NASDAQ: ALVR), a leading provider of Fixed Wireless solutions, announced today that its Board of Directors has authorized the expansion of its share buyback program. Expressing confidence in the Company’s financial strength and significant long-term growth potential, the Board is considering the investment of an additional $10 million in the previously announced share repurchase program, and has instructed the Company to proceed with the legal processes required to approve such an expansion.

Under Israeli law, share repurchase programs require court approval. Alvarion now intends to file all required applications with the District Court in Tel Aviv. Under its first repurchase program, the Company has to date repurchased approximately 4 million shares, at a total cost of about $8 million.

As before, purchases of shares pursuant to the new program will be made from time-to-time based on the Board’s instructions, in open market or privately negotiated transactions. Such purchases will be subject, among other factors, to the price of Alvarion’s shares and market conditions. All share purchases will be made in accordance with all applicable laws and regulations.

# # #

About Alvarion

Alvarion is dedicated to delivering seamless wireless broadband networking infrastructure to carriers, ISPs and private network operators, in order to leverage their broadband opportunities into sustainable profits. Alvarion offers premier wireless broadband solutions for access in the last mile, backhauling connection to the backbone and private network connectivity. Featuring the industry's most extensive range of products and international support, Alvarion is a pioneering leader of the converged wireless broadband network. With over 1.5 million units deployed in 120 countries worldwide, Alvarion provides secure rich-media networks for business or residential Internet access, corporate VPNs, cellular base station feeding, community interconnection, public safety connectivity and extended Hotspots. Recently incorporated InnoWave's wideband access portfolio and expertise, Alvarion provides a complete wireless solution supporting a wide range of frequency bands, customer profiles and service types.

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in filings with the Securities and Exchange Commission.

You may register to receive Alvarion’s future press releases or to download a complete Digital Investor Kit™ including press releases, regulatory filings and corporate materials by clicking on the “Digital Investor Kit™” icon at www.kcsa.com.

« Back to List