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Metropolitan Wireless Fiber

GigaBeam Promotes Jay Lawrence to VP Sales

Other Topics: North American Wireless Networking Solutions, Broadband Remote Controls

GigaBeam Corporation
October 2, 2006

Ton Wetmore Forms MetroNext, A Boston WiLEC to Deploy Gigabeam's WiFIBER®

GigaBeam Takes Actions to Focus on Sales, Improve Margins and Reduce Cash Burn

Herndon, VA -- GigaBeam Corporation (NASDAQ:GGBM) announced today that it has promoted Jay Lawrence to the position of Vice President of Sales for the Company. Jay Lawrence will be assuming the responsibility for corporate wide sales which was held by Tom Wetmore. Jay Lawrence was previously VP of National Sales for the Company.
Tom Wetmore has resigned from the Company to lead MetroNext, Inc., a Boston area based WiLEC wireless local exchange carrier he recently founded. MetroNext is a next generation telecommunications carrier that plans to deploy GigaBeam’s WiFiber® wireless fiber in metropolitan areas. MetroNext plans to provide resilient high speed Ethernet communications data and content services to business enterprises, governments and multiple dwelling units, initially throughout the Boston metropolitan area. MetroNext’s business is similar to other WiLECs using GigaBeam WiFiber, including the previously announced WiLEC in the western United States which continues to successfully penetrate and grow within its metropolitan market.

The Company also announced today certain actions it is taking to reduce its operating and cash expenditures which will positively impact margin and cash burn. These actions include salary cuts of management personnel, deferral of outside Director fees and reduction in personnel headcount (both employees and contract personnel). These actions are timely given the Company has successfully transitioned from product development into predominately product sales and service support of those sales.

Lou Slaughter, GigaBeam’s Chairman and CEO, said, “We are excited to have Jay Lawrence step up to take over sales for the Company and for Tom Wetmore in his new venture with MetroNext. Jay has proved to be an excellent executive in sales for the Company and we believe he will bring significant energy, ideas and leadership to our Company’s sales efforts. Tom led GigaBeam Sales and Marketing from the Company’s formation to its current world market leadership position in ultra highspeed wireless communications. Tom’s company, MetroNext, will benefit GigaBeam because it plans to build out its infrastructure using GigaBeam’s WiFiber. We expect that Tom’s extensive experience with the advantages of WiFiber to result in significant future deployment of GigaBeam WiFiber links by MetroNext. We wish both Jay and Tom every success in their respective roles.”

Lou Slaughter further stated, “We have taken steps to reduce expenditures and cash burn which are timely given the current stage of the Company’s development. To date, the primary focus of the Company has been on intensive engineering resulting in rapid product development. We have completed several generations of our 1.25 Gigabit-per-second series product and are about to launch our 2.7 Gigabit-per second series product. Whilst we will continue ongoing product development, it is now timely to turn our resources towards building sales and sales support and near term profitability. Accordingly, we have taken appropriate actions consistent with this strategy which include salary cuts of management personnel, deferral of outside Director fees and reduction in personnel headcount (both employees and contract personnel). I continue to be very confident that our WiFiber product will have a significant impact on global telecommunications. We expect to report growth in our national sales levels this past quarter and with the large number of countries about to approve spectrum and technical rules for our products, we are poised to take advantage of significant new opportunities in international sales.”

GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz radio spectrum bands. This portion of the radio frequency spectrum has been authorized by the Federal Communications Commission for wireless point-to-point commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam’s founders.

GigaBeam’s technology, utilizing these large blocks of authorized contiguous spectrum, enables multi- Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols. The current speed achieved by GigaBeam’s WiFiber G-1.25 product series is full duplex at one Gigabit-per-second (equivalent to 647 T1 lines or 1,000 DSL connections) which supports GigE protocol. GigaBeam recently announced its WiFiber G-2.7 series, to be released in Q4, 2006, which will operate at 2.7 Gbps. The protocols to be supported by the G-2.7 product series include 2 x GigE (2 x 1 Gbps); OC-48 / STM-16 (2.488 Gbps); SMPTE 292M (1.485 Gbps) and both 1 and 2 Gbps fiber channel. GigaBeam also plans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 Gigabit Ethernet or OC-192 protocol standards.

GigaBeam’s WiFiber technology is similar to terrestrial fiber in terms of speed and reliability for deployment in Metropolitan Area Networks (MANS). However, WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be deployed in a day and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.

About GigaBeam Corporation
GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands. GigaBeam equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters is located at 470 Springpark Place, Suite 900, Herndon, VA 20170. For more information, visit

Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.

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