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SANTA BARBARA, CALIFORNIA, November 2, 2001 - Moseley, a privately held company, and Adaptive Broadband Corporation (Nasdaq: ADAP) today announced that they have closed on an asset purchase agreement in which Adaptive Broadband, a leader in the fixed wireless broadband point-to-point and point-to-multipoint market, has agreed to sell, under the Bankruptcy Statute Provisions, to Moseley substantially all of its assets, including, but not limited to, all intellectual property, technology, capital equipment, accounts receivable, and physical inventory. The acquisition of the ADAP product line fortifies Moseley's overall position within the fixed wireless broadband global market by uniquely positioning Moseley as one of the industry's preeminent suppliers. With the acquisition of all the significant assets of ADAP, including the AB-Access product, a new company has been formed: Axxcelera Broadband Wireless. Axxcelera is a Delaware Corporation and a wholly owned subsidiary of Moseley. Headquarters are in Santa Barbara, California; with Operations and Service in Rochester, New York; Product Development in Cambridge, United Kingdom; and Sales and Marketing in the United States and China. Axxcelera Broadband Wireless will be a leading provider of point-to-multipoint products with both ATM and IP interfaces. The company offers products in the UNII 5.x band. Its end-user customers include leading Internet service providers, CLECs and traditional telecommunications companies. Jamal Hamdani, President & CEO of Moseley, stated, "Moseley will benefit from the enormous know-how and experience garnered by Adaptive Broadband via its extensive deployments and pioneering leadership position in the broadband wireless marketplace. We are also acquiring a world-class collection of industry-specific tools, equipment and infrastructure set up by Adaptive Broadband in its drive to reach revenues exceeding one billion dollars. Additionally, Moseley will own the Intellectual Property Rights for development focused on QOS, ATM, and multilevel QAM. Finally, Moseley will benefit from investments in major ISPs and wireless companies, as well as from relationships and deployments with ISPs in 6 of the 10 most populated countries around the world. Moseley will offer, either through Axxcelera Broadband Wireless or directly, its VOFDM-based products as its preferred choice for the Broadband Fixed Wireless Access market. While these VOFDM products, particularly in the FDD MMDS and 3.5 GHz bands, are targeted to the mass broadband marketplace, the AB-Access product is of significant value for shorter range, higher capacity, line-of-sight applications in the UNII unlicensed band. The AB-Access product provides corporate and business end users a choice of either ATM or IP connectivity." This action, coupled with Moseley's efforts in the past 18 months, establishes Moseley as a major 'first meter to last mile' fixed wireless broadband infrastructure company. As a leading supplier of fully tested and deployed end-to-end fixed wireless broadband solutions, Moseley and its wholly owned subsidiaries Axxcelera Broadband Wireless and Microwave Data Systems can now offer a variety of point-to-point and point-to-multipoint products for last mile access and wireless high-capacity Internet connectivity to campus, enterprise and Internet Service Providers. In business for more than 40 years, Moseley is an ISO 9001 company with offices in Santa Barbara, California; Rochester, New York; China; Australia; United Kingdom; and Brazil. Distributors and agents in over 70 countries augment Moseley's 250 employees, including over 50 engineers. Moseley has more than 400,000 radios deployed in over 120 countries, covering both point-to-point and point-to-multipoint applications. These radios have been approved for ETSI, FCC, Anatel, IC, UL, and CE compliance. Additionally, Moseley also provides in-house systems engineering, field engineering, and worldwide installations. Profitable for each of its forty years in business, Moseley currently has revenues north of US $80 million.

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