GigaBeam Receives Order for WiFiber(R) from Leading European Telecom Carrier

GigaBeam Corporation (NASDAQ:GGBM) announced today that it has
received an initial order for two WiFiber(R) wireless fiber links from
a leading European incumbent wireline and wireless carrier. The
carrier is also one of the world's largest mobile operators. The
customer is headquartered in Europe and has operations in Europe and
Asia with a subscriber base of greater than 75 million.

Lou Slaughter, Chairman and CEO of GigaBeam, stated, "We are
excited to receive an initial order from this large European incumbent
wireline and wireless carrier. This customer has operations spanning
from Europe across the globe to Asia. We see significant opportunity
for GigaBeam's WiFiber product in multiple countries with this
customer. This order follows recent approval by the European
authorities for use of the 70GHz and 80GHz frequency spectrum and the
granting of a CE mark (equipment certification) to GigaBeam for
operation of WiFiber across Europe. Europe represents a substantial
market for GigaBeam's products. This order from a leading telecom
carrier underscores the acceptance and potential application of
WiFiber to be adopted for creating telecom infrastructures in
metropolitan areas along with backhaul of mobile wireless services."

GigaBeam's technology, utilizing these large blocks of 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 previously
announced its WiFiber G-2.7 series, to be released in Q4, 2006 and
generally available in Q1, 2007, 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. 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 www.gigabeam.com.

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.