GigaBeam Appoints Vice President Latin American Sales

Business Wire,  April 10, 2006  

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HERNDON, Va. -- GigaBeam Corporation (NASDAQ:GGBM) announced today that it has hired Alex Berroa as its Vice President, Latin American Sales. Mr. Berroa joins GigaBeam from ForeScout Technologies, Inc.

Mr. Berroa is a proven senior sales executive with diverse experience in sales and marketing throughout Mexico and South America. Prior to joining GigaBeam, Mr. Berroa was Vice President of Latin American Sales with ForeScout. Previously he served in executive positions with Network Physics, Inc., CommNet, LLC, Lucent Technologies, Inc. and International Network Services, Inc.

Mr. Berroa said, "GigaBeam has an excellent product which I believe is ideal for the Latin American market. I see a lot of opportunity for WiFiber(TM) wireless fiber link deployments throughout Mexico and South America."

Lou Slaughter, GigaBeam's Chairman and CEO, added, "I am excited to have Alex join the GigaBeam Sales and Marketing team. We have had already had significant success with international sales of our WiFiber links. Now with Alex joining GigaBeam, we will be able to take advantage of the huge market opportunity throughout Latin America. This is another step in the successful execution of our global expansion strategy."

In connection with the employment of Mr. Berroa, the Company issued 32,500 new inducement non-plan stock options in accordance with Nasdaq Marketplace Rule 4350. In addition, the company also issued similar non-plan options to D. Archer in the amount of 21,500, R. Berroa in the amount of 8,000, M. Higgins in the amount of 6,000 and J. Harris in the amount of 3,500. These options are classified as non-qualified stock options and were granted with the company's standard stock option terms, including a 10-year term, three year vesting and at an exercise prices equal to the fair market value on the date of grant.

GigaBeam WiFiber product operates 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 product lines is one Gigabit-per-second - equivalent to 647 T1 lines or 1,000 DSL connections. 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 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 those 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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