Alvarion Announces Private Placements of $2.9 million in Total

Alvarion Announces Private Placements of $2.9 million in Total

TEL AVIV, Israel, May 29, 2013 (GLOBE NEWSWIRE) -- Alvarion^® Ltd.
(Nasdaq:ALVR), a global provider of optimized wireless broadband solutions
addressing the connectivity, coverage and capacity challenges of public and
private networks, today announced that it has executed final agreements to
raise an aggregate net amount of $2.9 million from investors in two private
placements. The agreements provide, among other things, for the issuance of
ordinary shares equal to, as of the current time, approximately 18.5% of the
Company's pre-transaction outstanding share capital, in the aggregate, and
warrants to purchase an additional number equal to, as of the current time,
approximately 4% of the Company's pre-transaction outstanding share capital.

The agreements furthermore provide for the potential issuance of additional
shares pursuant to certain price adjustment mechanisms. The private placements
are expected to be consummated within 10 days after the execution of the
foregoing agreements.

"The consummation of these transactions is an important step in improving our
working capital, which in turn will allow us to shorten our delivery cycle to
customers and support our future growth," said Avi Stern, Chief Financial
Officer at Alvarion. "At the same time, we are exploring additional
alternatives to further strengthen our balance sheet."

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About Alvarion

Alvarion Ltd. (Nasdaq:ALVR) provides optimized wireless broadband solutions
addressing the connectivity, coverage and capacity challenges of telecom
operators, smart cities, security, and enterprise customers. Our innovative
solutions are based on multiple technologies across licensed and unlicensed
spectrums. (www.alvarion.com)

This press release contains forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based on the current expectations or beliefs of
Alvarion's management and are subject to various factors and uncertainties
that could cause actual results to differ materially from those described in
the forward-looking statements. The following factors, among others, could
cause actual results to differ materially from those described in the
forward-looking statements: our failure to fully implement our 2012 turnaround
plan, our inability to reallocate our resources and rationalize our business
in a more efficient manner, potential impact on our business of the current
global macro-economic uncertainties, the inability of our customers to obtain
credit to purchase our products as a result of global credit market
conditions, the failure to fund projects under the U.S. broadband stimulus
program, continued delays in 4G license allocation in certain countries; the
failure of the products for the 4G market to develop as anticipated; our
inability to capture market share in the expected growth of the 4G market as
anticipated, due to, among other things, competitive reasons or failure to
execute in our sales, marketing or manufacturing objectives; the failure of
our strategic initiatives to enable us to more effectively capitalize on
market opportunities as anticipated; delays in the receipt of orders from
customers and in the delivery by us of such orders; our failure to fully and
effectively integrate the business and technology of Wavion Inc., acquired by
us in November 2011, into our products and realize the expected synergies from
the acquisition; the failure of the markets for our (including Wavion's)
products to grow as anticipated; our inability to further identify, develop
and achieve success for new products, services and technologies; increased
competition and its effect on pricing, spending, third-party relationships and
revenues; our inability to establish and maintain relationships with commerce,
advertising, marketing, and technology providers; our inability to comply with
covenants included in our financing agreements; the fact that we will need to
obtain additional sources of funding in order to continue our operations at
their current anticipated levels and that there are no assurances that such
funding will be available on favorable terms or at all, either through equity
issuances or asset sales; and other risks detailed from time to time in the
Company's annual reports on Form 20-F as well as in other filings with the
U.S. Securities and Exchange Commission.

Information set forth in this press release pertaining to third parties has
not been independently verified by Alvarion and is based solely on publicly
available information or on information provided to Alvarion by such third
parties for inclusion in this press release. The web sites appearing in this
press release are not and will not be included or incorporated by reference in
any filing made by Alvarion with the U.S. Securities and Exchange Commission,
which this press release will be a part of.

The information in this press release is provided solely for information
purposes, and is not a commitment, promise or legal obligation to deliver any
products, features and/or functionalities, and should not be relied upon in
making purchasing decisions. The development, release and timing of any
products, features and/or functionalities described remains at the sole
discretion of Alvarion. If and when any products, features and/or
functionalities are offered for sale by Alvarion, they will be sold under
agreed upon terms and conditions. This information may not be incorporated
into any contractual agreement with Alvarion or its subsidiaries or
affiliates. Alvarion makes no representations or warranties with respect to
the contents of this press release, and specifically disclaims any express or
implied warranties of merchantability or fitness for any particular purpose.

To receive Alvarion's press releases please contact Sivan Farfuri,
sivan.farfuri@alvarion.com or +972.3.767.4333. Please see the Investor section
of the Alvarion website for more information:
http://www.alvarion.com/investors.

Alvarion®, its logo and certain names, product and service names referenced
herein are either registered trademarks, trademarks, trade names or service
marks of Alvarion Ltd. in certain jurisdictions. All other names are or may be
the trademarks of their respective owners.

CONTACT: Investor & Media Contacts:
        
         Avi Stern, CFO
         +972.3.767.4333
         avi.stern@alvarion.com
        
         Elana Holzman, VP IR
         +972.3.645.7892
         elana.holzman@alvarion.com

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