Balance Sheet Drivers

• Continue improvement of receivables management (total reduced by $10M in 2002) – reflects stricter vendor credit terms.

• Reduce inventory levels by more “build to order” vs. “build to forecast”.

• OPEX reduction will save cash

• Settled outstanding $2.5M debt at a discount in Q2, 2003. Airspan is now debt free

• Targets:
  • Average 2003 Cash Burn : $5M per qtr
  • Year End 2003 Cash Balance $32-$35M

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