NextWave Wireless Grants Stock Options under NASDAQ Inducement Exception

NextWave Wireless Grants Stock Options under NASDAQ Inducement Exception

NextWave Wireless Inc. (NASDAQ: WAVE), a global provider of mobile broadband and wireless multimedia technologies, announced today that its independent compensation committee, at a meeting held on March 26, has approved inducement stock option grants to 43 new employees to purchase an aggregate of 402,293 shares of the company’s common stock. These stock options will vest over 48 months, with the first tranche of vesting occurring after 12 months, and have an exercise price of $9.73 per share, equal to the closing price of NextWave’s common stock on March 26, 2007. The stock options were granted under the NextWave 2007 New Employee Stock Incentive Plan. The stock option grants meet the “employee inducement” exception to NASDAQ Marketplace Rule 4350 requiring shareholder approval of equity-based incentive plans.

About NextWave Wireless Inc.

NextWave Wireless Inc. (NASDAQ: WAVE) develops next-generation wireless broadband products and technologies for mobile device and network equipment manufacturers and for wireless service operators. With over 700 employees worldwide, NextWave Wireless is led by a team of highly experienced industry veterans from AT&T Wireless, Intel, Microsoft, Motorola, Nokia, QUALCOMM, and Texas Instruments. Through its NextWave Broadband subsidiary, the company is developing a family of semiconductor products based on WiMAX and Wi-Fi technologies. Its PacketVideo subsidiary provides device-embedded multimedia software for mobile phones and converged devices to many of the largest wireless carriers and handset manufacturers in the world. Its GO Networks subsidiary offers commercial and municipal service providers around the globe with carrier-class, mobile Wi-Fi systems optimized for wide-area deployment. To complement its technology development activities, NextWave has obtained a licensed spectrum footprint in the U.S. that covers 247 million people and nationwide WiMAX spectrum in Germany through a majority-controlled joint venture. The Company intends to make its spectrum available to service providers looking to deploy next-generation wireless broadband networks that utilize NextWave’s advanced wireless broadband products and technologies. Visit NextWave Wireless 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 or from any other forward-looking statements made by, or on behalf of, NextWave, and should not be considered as an indication of future events or results. 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 revise or update any forward-looking statements in order to reflect changes in events or circumstances after the date any such statement is made, except as may be required pursuant to applicable law.
Contacts

NextWave Wireless Inc.
Roy Berger, 203-742-2572
rberger {at} nextwave(.)com