NextWave Wireless Grants Stock Options to Employees under NASDAQ Inducement Exception

NextWave Wireless Inc. (NASDAQ: WAVE) (“NextWave”) announced today that its independent compensation committee, at a meeting held on March 27, 2008, has approved inducement stock option grants to purchase an aggregate of 31,850 shares of NextWave common stock to seven new employees who joined NextWave’s wholly owned subsidiary, GO Networks, Inc. (“GO”). The stock options granted to the new employees of GO vest over 48 months, with the first tranche of vesting occurring after 12 months. All have an exercise price of $5.02 per share, equal to the closing price of NextWave’s common stock on the Nasdaq Global Market on March 27, 2008. The stock options were granted under the NextWave Wireless Inc. 2007 New Employee Stock Incentive Plan (the “2007 Plan”). The stock option and stock bonus grants meet the “employee inducement” exception to NASDAQ Marketplace Rule 4350 requiring shareholder approval of equity-based incentive plans.

About NextWave Wireless

NextWave Wireless Inc. (Nasdaq: WAVE) is engineering the future of mobility by providing next-generation mobile multimedia and wireless broadband technologies to the world’s leading mobile handset manufacturers, consumer electronics manufacturers and wireless service providers. From mobile television and mobile broadband systems to semiconductors and device-embedded mobile multimedia software that can be found in more than 200 million handsets around the globe, NextWave is evolving the way consumers experience mobile multimedia content. For more information, visit NextWave at www.nextwave.com.

Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted by such statements. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. All such documents are available through the SEC’s website at www.sec.gov. NextWave makes no commitment to update any forward-looking statements in order to reflect subsequent changes in events or circumstances except as may be required pursuant to applicable law.

Contacts

NextWave Wireless Inc.
Michael Gury, 203-742-2535
mgury {at} nextwave(.)com