| For
Immediate Release June 2, 2004 |
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AIRNET COMMUNICATIONS TO COMMENCE
SEARCH FOR NEW INDEPENDENT AUDITING FIRM
Melbourne, FL, June 2, 2004 - AirNet Communications Corporation (NASDAQ: ANCC), the technology leader in software defined base station products for wireless communications announced today that Deloitte & Touche LLP will be replaced as its independent auditor and the Company has commenced soliciting proposals from leading accounting firms.
“We're grateful for the excellent professional service that Deloitte has rendered over the last several years,” said George Calhoun, chairman of AirNet's audit committee. “We will undertake a thorough and comprehensive evaluation process and intend to engage a new independent auditor within the next 30 days.”
The change in accountants was not the result of any disagreement between AirNet and Deloitte & Touche on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
Deloitte & Touche has agreed to assist the Company in effecting an efficient transition to the new auditor.
About AirNet
AirNet Communications Corporation is a leader in wireless base stations and other telecommunications equipment that allow service operators to cost-effectively and simultaneously offer high-speed wireless data and voice services to mobile subscribers. AirNet's patented broadband, software-defined AdaptaCell® SuperCapacity™ adaptive array base station solution provides a high-capacity base station with a software upgrade path to high-speed data. The Company's AirSite® Backhaul Free™ base station carries wireless voice and data signals back to the wireline network, eliminating the need for a physical backhaul link, thus reducing operating costs. The Company's RapidCell™ base station provides government and military communications users with up to 96 voice and data channels in a compact, rapidly deployable design capable of processing multiple GSM protocols simultaneously. AirNet has 69 patents issued or filed and has received the coveted World Award for Best Technical Innovation from the GSM Association, representing over 400 operators around the world. More information about AirNet by visiting the AirNet Web site at www.airnetcom.com.
AirNet Press & Investor Contacts
Stuart P. Dawley
Investor Relations Officer
Tel: +1 321-953-6780
sdawley@airnetcom.com
Certain statements in this news release may constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (the Reform Act), Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities and Exchange Act of 1934. These forward-looking statements may relate to anticipated financial performance, management's plans and objectives for future operations, and the Company's plans to hire a new independent auditor. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as "anticipate,'' "prospects," "believe,'' "estimate,'' "expect,'' "intend,'' "plan'' and "objective'' and other similar expressions. Readers should not place undue reliance on the forward-looking statements contained in this news release. Such statements are based on management's beliefs and assumptions and on information currently available to management and are subject to risks, uncertainties and changes in condition, significance, value and effect. Such risks or uncertainties include the following: there can be no assurance that the Company will be successful in obtaining a new auditor promptly; that the Company may experience a delay in filing its Quarterly Report in the event new independent auditors are not promptly retained, and that the market price for our securities may continue to be volatile during our search for new auditors. Other risks are detailed in reports and documents filed by the Company with the United States Securities and Exchange Commission. Such risks, uncertainties and changes in condition, significance, value and effect, many of which are beyond the Company's control, could cause the Company's actual results and other future events to differ materially from those anticipated. The Company does not, however, assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
AirNet®, AdaptaCell® and AirSite® are registered trademarks with the U.S. Patent and Trademark Office. The stylized AirNet mark, Super Capacity™, TripCap™, Backhaul Free™ and RapidCell™ are trademarks of AirNet. Other names are registered trademarks or trademarks of their respective holders.