**For      Further Information Contact:**

**FOR      IMMEDIATE RELEASE**

**PROXIM      WIRELESS ANNOUNCES THIRD QUARTER 2007 FINANCIAL RESULTS**

***Improved      Operating Performance Demonstrates Progress Toward Stated      Objectives***

**San      Jose, CA, November 6, 2007**

|   | · | Achieved                stated goal of reducing operating expenses by over $1 million sequentially                including the effects of discontinued                operations. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Re-branded                under the Proxim Wireless name and PRXM stock                ticker. |
|--------|--------|------------------------------------------------------------------------------------------------|

|   | · | Reported                gross margins of approximately 49.0% - a sequential improvement of                4.6%. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------|

|   | · | Divested                Ricochet Networks to focus on core-to-client broadband wireless equipment                business. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | · | Reached                10,000 unit milestone with a major                customer. |
|--------|--------|------------------------------------------------------------------------------------|

----

**About      Proxim Wireless**

**Safe      Harbor Statement**

*Statements      in this press release that are not statements of historical facts are      forward-looking statements that involve risks, uncertainties, and      assumptions.  Proxim’s actual results may differ materially from the      results anticipated in these forward-looking statements.  The      forward-looking statements involve risks and uncertainties that could contribute      to such differences including those relating to and arising from the ongoing      uncertainty in the telecommunications industry and larger economy; the intense      competition in our industries and resulting impacts on our pricing, gross      margins, and general financial performance; time and costs associated with      developing and launching new products; uncertainty about market acceptance      of      products we introduce; potential long sales cycles for new products such that      there may be extended periods of time before new products contribute positively      to our financial results; decisions we may make to delay or discontinue efforts      to develop and introduce certain new products; time, costs, political      considerations, typical multitude of constituencies, and other factors involved      in evaluating, equipping, installing, and operating municipal networks;      difficulties or delays in developing and supplying new products with the      contemplated or desired features, performance, compliances, certifications,      cost, price, and other characteristics and at the times and in the quantities      contemplated or desired; the difficulties in predicting Proxim’s future      financial performance; and the impacts and effects of any other strategic      transactions Proxim may evaluate or consummate.  Further information      on these and other factors that could affect Proxim’s actual results is and will      be included in filings made by Proxim from time to time with the Securities      and      Exchange Commission and in its other public statements.*

*-      Financial Tables Follow -*

----

| **PROXIM                WIRELESS CORPORATION**                                                                                                                                                                                                |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **CONSOLIDATED                BALANCE SHEETS**                                                                                                                                                                                                |   |
| **US                dollars in thousands (except per share data)**                                                                                                                                                                            |   |
| **(unaudited)**                                                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                          |   | **September                30,** |   |   | **December                31,** |   |
|                                                                                                                                                                                                                                          |   | **2007** |   |   | **2006** |   |
| **Assets**                                                                                                                                                                                                                                    |   | **(unaudited)** |   |   |   |   |
| Current                assets:                                                                                                                                                                                                                |   |   |   |   |   |   |
| Cash                and cash equivalents                                                                                                                                                                                                      |   | $ | 11,528 |   |   | $ | 10,290 |   |
| Investment                securities – available-for-sale                                                                                                                                                                               |   |   | - |   |   |   | 168 |   |
| Accounts                receivable, net                                                                                                                                                                                                       |   |   | 8,123 |   |   |   | 5,539 |   |
| Inventory                                                                                                                                                                                                                                     |   |   | 8,786 |   |   |   | 10,142 |   |
| Prepaid                expenses                                                                                                                                                                                                               |   |   | 1,575 |   |   |   | 1,246 |   |
| Total                current assets                                                                                                                                                                                                           |   |   | 30,012 |   |   |   | 27,385 |   |
|                                                                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Property                and equipment, net                                                                                                                                                                                                    |   |   | 2,557 |   |   |   | 2,660 |   |
| Other                Assets:                                                                                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Restricted                cash                                                                                                                                                                                                                |   |   | 76 |   |   |   | 76 |   |
| Goodwill                                                                                                                                                                                                                                      |   |   | 7,923 |   |   |   | 7,922 |   |
| Intangible                assets, net                                                                                                                                                                                                         |   |   | 9,762 |   |   |   | 11,545 |   |
| Deposits                and prepaid expenses                                                                                                                                                                                                  |   |   | 255 |   |   |   | 287 |   |
| Total                other assets                                                                                                                                                                                                             |   |   | 18,016 |   |   |   | 19,830 |   |
| Total                assets                                                                                                                                                                                                                   |   | $ | 50,585 |   |   | $ | 49,875 |   |
| **Liabilities                and Stockholders’ Equity**                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Current                liabilities:                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Accounts                payable and accrued expenses                                                                                                                                                                                          |   | $ | 12,455 |   |   | $ | 13,887 |   |
| Deferred                revenue                                                                                                                                                                                                               |   |   | 1,920 |   |   |   | 2,198 |   |
| License                agreement payable - current maturities                                                                                                                                                                                 |   |   | 1,002 |   |   |   | 868 |   |
| Total                current liabilities                                                                                                                                                                                                      |   |   | 15,377 |   |   |   | 16,953 |   |
| License                agreement payable, net of current maturities                                                                                                                                                                           |   |   | 1,307 |   |   |   | 2,088 |   |
| Total                liabilities                                                                                                                                                                                                              |   |   | 16,684 |   |   |   | 19,041 |   |
| Commitments                and contingencies                                                                                                                                                                                                  |   |   |   |   |   |   |   |   |
| **Stockholders’                Equity**                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Preferred                stock, $0.01 par value; authorized 4,500,000, none issued at September                30,                2007 and December 31, 2006                                                                                  |   |   | - |   |   |   | - |   |
| Common                stock, $0.01 par value, 100,000,000 shares authorized, 25,854,369                issued                and outstanding at September 30, 2007, and 21,552,572 issued and                outstanding at December 31, 2006 |   |   | 258 |   |   |   | 216 |   |
| Additional                paid-in capital                                                                                                                                                                                                     |   |   | 66,989 |   |   |   | 57,976 |   |
| Retained                earnings  (accumulated deficit)                                                                                                                                                                             |   |   | (33,346 | ) |   |   | (27,285 | ) |
| Accumulated                other comprehensive income:                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Net                unrealized gain (loss) on available-for-sale securities                                                                                                                                                                    |   |   | - |   |   |   | (73 | ) |
| Total                stockholders’ equity                                                                                                                                                                                               |   |   | 33,901 |   |   |   | 30,834 |   |
| Total                liabilities and stockholders’ equity                                                                                                                                                                               |   | $ | 50,585 |   |   | $ | 49,875 |   |

----

**PROXIM          WIRELESS CORPORATION**

**CONSOLIDATED          STATEMENTS OF OPERATIONS**

**US          dollars in thousands (except per share data)**

**(unaudited)**

|                                                                                                                                                         |   | **Three                    Months Ended** |   |   | **Nine                    Months Ended** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|--------|------------------------------------------|--------|
|                                                                                                                                                         |   | **September                    30,**      |   |   | **September 30,**                   |   |
|                                                                                                                                                         |   | **2007**                                  |   |   | **2006**                                 |   |   | **2007** |   |   | **2006** |   |
| Revenues                                                                                                                                                     |   | $                                         | 16,902 |   |                                     | $      | 17,321 |   |   | $ | 51,693 |   |   | $ | 55,006 |   |
| Cost                    of goods sold                                                                                                                        |   |                                      | 8,616  |   |                                     |   | 9,317 |   |   |   | 27,524 |   |   |   | 31,079 |   |
| Restructuring                    provision for E&O inventory                                                                                             |   |                                      |   |   |                                     |   | 1,502 |   |   |   |   |   |   |   | 1,502 |   |
| Gross                    profit                                                                                                                              |   |                                      | 8,286  |   |                                     |   | 6,502 |   |   |   | 24,169 |   |   |   | 22,425 |   |
| Operating                    expenses:                                                                                                                       |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Selling                    costs                                                                                                                             |   |                                      | 5,385  |   |                                     |   | 5,041 |   |   |   | 15,134 |   |   |   | 13,156 |   |
| Restructuring                    Charges                                                                                                                     |   |                                      |   |   |                                     |   | 8,874 |   |   |   | 91 |   |   |   | 8,990 |   |
| General                    and administrative                                                                                                                |   |                                      | 2,964  |   |                                     |   | 2,981 |   |   |   | 8,855 |   |   |   | 9,358 |   |
| Research                    and development                                                                                                                  |   |                                      | 1,602  |   |                                     |   | 2,729 |   |   |   | 6,954 |   |   |   | 11,190 |   |
| Total                    operating expenses                                                                                                                  |   |                                      | 9,951  |   |                                     |   | 19,625 |   |   |   | 31,034 |   |   |   | 42,694 |   |
| Operating                    loss                                                                                                                            |   |                                      | (1,665 | )      |                                     |   | (13,123 | ) |   |   | (6,865 | ) |   |   | (20,269 | ) |
| Other                    income (expenses):                                                                                                                  |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest                    income                                                                                                                           |   |                                      | 89     |   |                                     |   | 102 |   |   |   | 161 |   |   |   | 303 |   |
| Interest                    expense                                                                                                                          |   |                                      | (29    | )      |                                     |   | (50 | ) |   |   | (98 | ) |   |   | (150 | ) |
| Other                    income (loss)                                                                                                                       |   |                                      | 4      |   |                                     |   | 10 |   |   |   | 2,604 |   |   |   | 157 |   |
| Gain                    (loss) on sale of assets                                                                                                             |   |                                      |   |   |                                     |   |   |   |   |   | 23 |   |   |   | 155 |   |
| Total                    other income (expenses)                                                                                                             |   |                                      | 64     |   |                                     |   | 62 |   |   |   | 2,690 |   |   |   | 465 |   |
| Income                    (loss) before income taxes                                                                                                         |   |                                      | (1,601 | )      |                                     |   | (13,061 | ) |   |   | (4,175 | ) |   |   | (19,804 | ) |
| Benefit                    (provision) for income taxes                                                                                                      |   |                                      | 57     |   |                                     |   | 17 |   |   |   | 125 |   |   |   | (42 | ) |
| Net                    income (loss) from continuing operation                                                                                               |   | $                                         | (1,658 | )      |                                     | $      | (13,078 | ) |   | $ | (4,300 | ) |   | $ | (19,846 | ) |
| Income                    (loss)  from discontinued operations                                                                                     |   | $                                         | (1,078 | )      |                                     | $      | (585 | ) |   | $ | (1,760 | ) |   | $ | (1,286 | ) |
| Net                    Income (loss)                                                                                                                         |   | $                                         | (2,736 | )      |                                     | $      | (13,663 | ) |   | $ | (6,060 | ) |   | $ | (21,132 | ) |
|  Weighted                    average number of shares - basic  and diluted used in computing                    net earnings (loss) per share |   |                                      | 25,241 |   |                                     |   | 21,541 |   |   |   | 22,703 |   |   |   | 21,515 |   |
| Basic                    net earnings (loss) per share:                                                                                                 |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                    operations                                                                                                                     |   | $                                         | (0.07  | )      |                                     | $      | (0.60 | ) |   | $ | (0.19 | ) |   | $ | (0.92 | ) |
| Discontinued                    operations                                                                                                                   |   | $                                         | (0.04  | )      |                                     | $      | (0.03 | ) |   | $ | (0.08 | ) |   | $ | (0.06 | ) |
| Total                                                                                                                                                        |   | $                                         | (0.11  | )      |                                     | $      | (0.63 | ) |   | $ | (0.27 | ) |   | $ | (0.98 | ) |

----

**PROXIM          WIRELESS CORPORATION**

**RECONCILIATION          BETWEEN GAAP TO NON-GAAP STATEMENT OF INCOME(*)**

**U.S.          Dollars in thousands,  (except per share data)**

**(unaudited)**

|                                                                                                                                                               |   | **Three                  Months Ended** |   |   | **Three                  Months Ended** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|--------|--------|-----------------------------------------|--------|
|                                                                                                                                                               |   | **September                  30, 2007** |   |   | **June                  30, 2007**      |   |
|                                                                                                                                                               |   | **GAAP**                                |   |   | **Adjustments**                         |   |   | **Non                  GAAP** |   |   | **GAAP** |   |   | **Adjustments** |   |   | **Non                  GAAP** |   |
| Revenues                                                                                                                                                           |   | $                                       | 16,902 |   |                                    |   |   |   | $ | 16,902 |   |   | $ | 18,116 |   |   |   |   |   | $ | 18,116 |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   | (145 | )(a) |   |   |   |   |   |   |   |   |   |   | (143 | )(a) |   |   |   |   |
| Cost                  of goods sold                                                                                                                                |   |                                    | 8,616  |   |                                    |   | (170 | )(c) |   |   | 8,301 |   |   |   | 9,867 |   |   |   | (168 | )(c) |   |   | 9,556 |   |
| Restructuring                  provision for E&O inventory                                                                                                     |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                  profit                                                                                                                                      |   |                                    | 8,286  |   |                                    |   | 315 |   |   |   | 8,601 |   |   |   | 8,249 |   |   |   | 311 |   |   |   | 8,560 |   |
| Operating                  expenses:                                                                                                                               |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   | (7 | )(a) |   |   |   |   |   |   |   |   |   |   | (7 | )(a) |   |   |   |   |
| Selling                  costs                                                                                                                                     |   |                                    | 5,385  |   |                                    |   | (149 | )(c) |   |   | 5,229 |   |   |   | 5,094 |   |   |   | (162 | )(c) |   |   | 4,925 |   |
| Restructuring                  Charges                                                                                                                             |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   | 91 |   |   |   | (91 | )(d) |   |   |   |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   | (97 | )(a) |   |   |   |   |   |   |   |   |   |   | (108 | )(a) |   |   |   |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   | (528 | )(b) |   |   |   |   |   |   |   |   |   |   | (521 | )(b) |   |   |   |   |
| General                  and administrative                                                                                                                        |   |                                    | 2,964  |   |                                    |   | (118 | )(c) |   |   | 2,221 |   |   |   | 2,884 |   |   |   | (239 | )(c) |   |   | 2,016 |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   | (117 | )(a) |   |   |   |   |   |   |   |   |   |   | (114 | )(a) |   |   |   |   |
| Research                  and development                                                                                                                          |   |                                    | 1,602  |   |                                    |   | (51 | )(c) |   |   | 1,434 |   |   |   | 2,622 |   |   |   | (51 | )(c) |   |   | 2,457 |   |
| Total                  operating expenses                                                                                                                          |   |                                    | 9,951  |   |                                    |   | (1,067 | ) |   |   | 8,884 |   |   |   | 10,691 |   |   |   | (1,293 | ) |   |   | 9,398 |   |
| Operating                  profit (loss)                                                                                                                           |   |                                    | (1,665 | )      |                                    |   | 1,382 |   |   |   | (283 | ) |   |   | (2,442 | ) |   |   | 1,604 |   |   |   | (838 | ) |
| Other                  income (expenses):                                                                                                                          |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  income                                                                                                                                   |   |                                    | 89     |   |                                    |   |   |   |   |   | 89 |   |   |   | 28 |   |   |   |   |   |   |   | 28 |   |
| Interest                  expense                                                                                                                                  |   |                                    | (29    | )      |                                    |   |   |   |   |   | (29 | ) |   |   | (34 | ) |   |   |   |   |   |   | (34 | ) |
| Other                  income (loss)                                                                                                                               |   |                                    | 4      |   |                                    |   |   |   |   |   | 4 |   |   |   | 2,576 |   |   |   |   |   |   |   | 2,576 |   |
| Gain                  (loss) on sale of assets                                                                                                                     |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                  other income (expenses)                                                                                                                     |   |                                    | 64     |   |                                    |   |   |   |   |   | 64 |   |   |   | 2,570 |   |   |   |   |   |   |   | 2,570 |   |
| Income                  (loss) before income taxes                                                                                                                 |   |                                    | (1,601 | )      |                                    |   | 1,382 |   |   |   | (219 | ) |   |   | 128 |   |   |   | 1,604 |   |   |   | 1732 |   |
| Benefit                  (provision) for income taxes                                                                                                              |   |                                    | 57     |   |                                    |   |   |   |   |   | 57 |   |   |   | 45 |   |   |   |   |   |   |   | 45 |   |
| Net                  income (loss) from continuing operation                                                                                                       |   | $                                       | (1,658 | )      |                                    |   | 1,382 |   |   | $ | (276 | ) |   | $ | 83 |   |   |   | 1,604 |   |   | $ | 1,687 |   |
| Income                  (loss)  from discontinued operations                                                                                             |   | $                                       | (1,078 | )      |                                    |   |   |   |   | $ | (1,078 | ) |   | $ | (422 | ) |   |   |   |   |   | $ | (422 | ) |
| Net                  Income (loss)                                                                                                                                 |   | $                                       | (2,736 | )      |                                    |   | 1,382 |   |   | $ | (1,354 | ) |   | $ | (339 | ) |   |   | 1,604 |   |   | $ | 1,265 |   |
|  Weighted                  average number of shares - shares used in computing basic net earnings                  profit (loss) per share                    |   |                                    | 25,241 |   |                                    |   |   |   |   |   | 25,241 |   |   |   | 21,554 |   |   |   |   |   |   |   | 21,554 |   |
| Basic                  net earnings (loss) per share:                                                                                                              |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                  operations                                                                                                                             |   | $                                       | (0.07  | )      |                                    |   |   |   |   | $ | (0.01 | ) |   | $ | (0.00 | ) |   |   |   |   |   | $ | 0.08 |   |
| Discontinued                  operations                                                                                                                           |   | $                                       | (0.04  | )      |                                    |   |   |   |   | $ | (0.04 | ) |   | $ | (0.02 | ) |   |   |   |   |   | $ | (0.02 | ) |
| Total                                                                                                                                                              |   | $                                       | (0.11  | )      |                                    |   |   |   |   | $ | (0.05 | ) |   | $ | (0.02 | ) |   |   |   |   |   | $ | 0.06 |   |
|  Weighted                  average number of shares - shares used in computing diluted net                  earnings                  profit (loss) per share |   |                                    | 25,241 |   |                                    |   |   |   |   |   | 25,241 |   |   |   | 21,554 |   |   |   |   |   |   |   | 24,535 |   |
| Diluted                  net earnings (loss) per share:                                                                                                            |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                  operations                                                                                                                             |   | $                                       | (0.07  | )      |                                    |   |   |   |   | $ | (0.01 | ) |   | $ | (0.00 | ) |   |   |   |   |   | $ | 0.07 |   |
| Discontinued                  operations                                                                                                                           |   | $                                       | (0.04  | )      |                                    |   |   |   |   | $ | (0.04 | ) |   | $ | (0.02 | ) |   |   |   |   |   | $ | (0.02 | ) |
| Total                                                                                                                                                              |   | $                                       | (0.11  | )      |                                    |   |   |   |   | $ | (0.05 | ) |   | $ | (0.02 | ) |   |   |   |   |   | $ | 0.05 |   |
|                                                                                                                                                               |   |                                    |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|   | (a) | The                effect of depreciation of fixed                assets |
|--------|-----|--------------------------------------------------------------------------|

|   | (b) | The                effect of amortization of intangible                assets |
|--------|-----|-------------------------------------------------------------------------------|

|   | (c) | The                effect of stock based compensation. The company adopted the provisions                of                Statement of Financial Accounting Standards No. 123®, “Share-Based                Payment” on January 1, 2006 using the modified-prospective transition                method. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | The                effect of restructuring                reserve |
|--------|-----|-------------------------------------------------------------------|