<PAGE>

Note: Portions of this exhibit indicated by "[*]" are subject to a confidential
treatment request, and have been omitted from this exhibit. Complete, unredacted
copies of this exhibit have been filed with the Securities and Exchange
Commission as part of this Company's confidential treatment request.

                                                                   Exhibit 10.25


                               SUPPLY AGREEMENT
                               ----------------

     This Supply Agreement (the "Agreement") is made effective as of the 1st day
of November, 2000, (the "Effective Date"), by and between Airspan Communications
Ltd., a company organised under the laws of England and Wales, with its
principal place of business at Cambridge House, Oxford Road, Uxbridge,
Middlesex, UB8 1UN, England ("ACL"), and Telecable Siglo 21 S.A., a company
organised under the laws of Peru, with its principal office at Av. Jorge Basadre
No. 910, San Isidro, Lima, Peru ("Purchaser").

                                  WITNESSETH:

     WHEREAS, ACL is engaged in the design and manufacture of various
telecommunications product lines including, among others, those ACL products
more completely described in Exhibit A hereto (the ACL products described in
Exhibit A of this Agreement, as from time to time amended in accordance with the
provisions of this Agreement, are hereinafter called the "ACL Products"); and

     WHEREAS, Purchaser is engaged in the operation of telecommunications
systems; and

     WHEREAS, during the Term (as defined below) of this Agreement, ACL desires
to supply to Purchaser, and Purchaser wishes to acquire from ACL, the ACL
Products on the terms and conditions contained in this Agreement.

     NOW, THEREFORE, in consideration of the mutual promises herein contained,
it is hereby agreed as follows:

1.   SCOPE.
     -----

     1.1  This Agreement shall remain in effect for a period of thirty-six (36)
months from the Effective Date (the "Term").

     1.2  During the Term, in accordance with each purchase order issued by
Purchaser and accepted by ACL, ACL shall:
<PAGE>

          a.   Engineer, sell, and deliver that equipment so specified in the
     order ("Equipment" being defined as the hardware component of each product
     being offered under the terms and conditions of this Agreement);

          b.   Grant to Purchaser a non-transferrable, non-exclusive, paid-up
     licence to use the Software (as defined in Section 10.1) during the useful
     life of the associated Equipment on the terms and conditions set forth in
     the Software Licence, Section 10; and

          c.   Test and install the Equipment and/or Software (the "Installation
     Services") if Purchaser elects to purchase the Installation Services, and
     ACL accepts the obligation to perform such services, or if such services
     are included in the price of the Equipment or Software.

2.   ORDERING PROCEDURE.
     ------------------

     2.1  The following procedures shall be followed with respect to each
purchase order issued by Purchaser:

     a.   During the Term, Purchaser will inform ACL of its intent to purchase
     Equipment and Installation Services (but only if ACL expressly agrees to
     perform such Installation Services), and license Software, by sending to
     ACL a written order. This written order (the "Purchase Order") will state
     the type of Equipment, System, or Installation Services that Purchaser
     wants to purchase and the Software Purchaser wants to licence, the price of
     the ordered items (the "Contract Price") as set forth in Exhibit B, "Price
     List" (which is hereby incorporated by reference) and the proposed delivery
     and installation dates, if applicable.

     b.   Each Purchase Order shall specifically incorporate by reference the
     terms and conditions of this Agreement, and no additional or different
     terms and conditions stated in a Purchase Order, any letter, or otherwise
     shall be binding unless expressly referred and agreed to by ACL in writing.
     In the event of a conflict between the terms and conditions of this
     Agreement and of any Purchase Order issued hereunder, or if the Purchase
     Order does not reference the terms and conditions of this Agreement, the
     terms and conditions of this Agreement shall control.

3.   CONTRACT PRICE.
     --------------

     3.1  The Contract Price for each item of Equipment, Installation Services,
or Software is as specified in Exhibit B and shall be paid to ACL in US Dollars
(USD or US$). The Contract Price includes:

          a.   The price of the Equipment;

          b.   The fee for the licensing of the Software;
<PAGE>

          c.   If Installation Services are ordered and such order is accepted
     by ACL, the charges for installing and testing each unit of Equipment or
     Software;

          d.   The charges for the warranty of the Equipment and Software in
     accordance with Section 7; and

          e.   Transportation charges in accordance with ACL's delivery
     obligations set forth in Section 5.1.

     3.2  The Contract Price, as listed in Exhibit B, shall not include value
added tax and any other applicable duties, taxes or imposts (including, but not
limited to, any export or import duties), all of which shall be for Purchaser's
account, but Purchaser shall not be required to pay any tax assessed on ACL's
income.

4.   PAYMENT TERMS.
     -------------

     4.1  If a Purchase Order is accepted by ACL, ACL will issue an invoice (the
"Invoice") to Purchaser within fifteen (15) business days of ACL's receipt of
the written Purchase Order from Purchaser. The Invoice specifically shall
identify the Equipment, Software, or Systems so ordered, and the Contract Price
of such items. Installation Services shall separately be invoiced within fifteen
(15) business days of ACL's receipt of a written Purchase Order for same, and
only if the order for Installation Services is expressly accepted by ACL. The
Invoice also shall state the total due to ACL from Purchaser (the "Invoice
Total"), which shall include the Contract Price, and any applicable taxes,
duties, and other fees due pursuant to Section 3.2 of this Agreement.

     4.2  Payment of the Invoice Total is due (without any right of set-off) as
set forth below.

     Twenty-five percent of the Invoice Total is due on receipt of the Purchase
     Order; and

     seventy-five percent of the Invoice Total is due prior to shipment of
     Equipment or Software.

No Equipment or Software shall be delivered prior to ACL's receipt of full
payment therefor. Full payment will be deemed to have been made upon receipt of
funds in ACL's bank in England by wire (or telegraphic) transfer.

     4.3  In the case of payment by wire (or telegraphic) transfer, the funds
must be received in ACL's designated bank before shipments will be initiated.
The transfer instructions are:
<PAGE>

     Bank:                      Lloyds Bank
                                32 Commercial Way
                                Woking
                                Surrey
                                GU21 1ER
                                England

     Sort Code:                 30-99-80

     Account Name:              Airspan Communications Limited

     Account No:                11232312

     Further Instructions:      Reference (Purchaser's name)
                                P.O. No. _______,
                                Payment of Invoice No. _________.


5.   DELIVERY, TITLE, AND RISK OF LOSS.
     ---------------------------------

     5.1  All Equipment and Software will be delivered by ACL FCA (ACL's point
of shipment), as defined in Incoterms ("Delivery"). If requested by Purchaser,
ACL may arrange for shipment to be made to Purchaser's identified warehouse
facilities or freight forwarder, subject to approval in writing by ACL in
advance of shipment. Unless specified in Purchaser's order, ACL will select the
mode of shipment and the carrier. Purchaser will be responsible for and pay all
packing, shipping, freight, and insurance charges, which charges ACL may require
Purchaser to pay in advance.

     In this Agreement, "Incoterms" means the most recent international rules
for the interpretation of trade terms published by the International Chamber of
Commerce as in force at the date when this Agreement is made. Unless the context
otherwise requires, any term or expression which is defined in or given a
particular meaning by the provisions of the Incoterms shall have the same
meaning in this Agreement, but if there is any conflict between the provisions
of the Incoterms and this Agreement, the latter shall prevail.

     5.2  All risk of loss or damage to the Equipment and Software will pass to
Purchaser upon Delivery.

     5.3  Title to the Equipment shall pass to Purchaser on Delivery.

     5.4  The Software shall at all times remain the exclusive property of ACL.

     5.5  Unless Purchaser clearly advises ACL to the contrary in writing, ACL
may make partial deliveries on account of Purchaser's orders. Delay in
<PAGE>

delivery of any instalment shall not relieve Purchaser of its obligation to
accept the remaining deliveries.

     5.6  ACL will use reasonable efforts to meet Purchaser's requested delivery
schedules for Equipment and Software, but ACL reserves the right to refuse,
cancel, or delay delivery to Purchaser when Purchaser's credit is impaired, when
Purchaser is delinquent in payments or fails to meet other credit or financial
requirements reasonably established by ACL, or when Purchaser has failed to
perform its obligations under this Agreement. Should orders for Equipment and
Software exceed ACL's available inventory, ACL will allocate its available
inventory and make deliveries on a basis that ACL deems equitable, in its sole
discretion, and without liability to Purchaser on account of the method of
allocation chosen or its implementation. In any event, ACL shall not be liable
for any direct, indirect, consequential, or special losses or damages
(including, but not limited to, loss of income or profit and loss of data) that
may be suffered by the Purchaser or by any other person for failure to deliver
or for any delay or error in delivery of Equipment or Software for any reason
whatsoever.

     5.7  If Purchaser has any ACL owned Equipment in its possession then:

          a.   Purchaser shall ensure that Equipment is clearly marked as the
property of ACL, and if asked, shall inform any third parties that the Equipment
is the property of ACL;

          b.   Purchaser shall not purport to create any security, mortgage,
lien or pledge over the Equipment, or otherwise deal with the Equipment without
ACL's express written consent; and

          c.   In the event of any threatened seizure of the Equipment by any
third parties, and on termination or expiration of this Agreement, or any
Contract made pursuant to it, ACL shall have the right, without prejudice to any
other remedy, to enter without prior notice any premises and to repossess and
take away or otherwise deal with the Equipment.

6.   SUBCONTRACTING. ACL reserves the right to subcontract such portions of: (a)
the Equipment manufacture and/or Software development and supply; and/or (b)
installation to subcontractors of ACL's choice as ACL deems appropriate.
<PAGE>

7.   WARRANTY.
     --------

     7.1  THE WARRANTIES SET FORTH IN SECTIONS 7 AND 8 OF THIS AGREEMENT ARE IN
LIEU OF ALL OTHER WARRANTIES AND CONDITIONS, WHETHER EXPRESS OR IMPLIED,
INCLUDING THE IMPLIED TERMS OF SATISFACTORY QUALITY AND FITNESS FOR A PARTICULAR
PURPOSE.

     7.2  Subject to Sections 7.3 and 7.4, ACL warrants that the Equipment sold
to Purchaser under this Agreement shall, under normal use and service, be free
from defects in materials and faulty workmanship, and that the Software licensed
to Purchaser under this Agreement shall conform in all material respects to
ACL's published specifications therefor. The warranty period shall be twelve
(12) months from Delivery (hereinafter, this period of time shall be referred to
as the "Initial Warranty Period.")

     7.3  ACL's obligation and Purchaser's sole remedy under this warranty are
limited to the replacement or repair, at ACL's option, of the defective
Equipment or Software within the Initial Warranty Period. ACL shall have no
obligation to remedy any such defect if it can be shown that: (a) the Equipment
or Software was altered, repaired, or reworked by any party other than ACL
without ACL's written consent; (b) such defects were the result of Purchaser's
improper storage, mishandling, abuse, or misuse of the Equipment or Software;
(c) such defects were the result of Purchaser's use of the Equipment or Software
in conjunction with equipment electronically or mechanically incompatible or of
an inferior quality; or (d) the defect was the result of damage by fire,
explosion, power failure, or any act of nature.

     7.4  In no event shall ACL be obliged to provide on-site maintenance.
Subject to the provisions of this warranty clause, defective parts or components
must be returned by Purchaser to ACL's point of manufacture facility, freight
prepaid, within the Initial Warranty Period, and said defective parts will be
repaired or replaced by ACL at no charge to Purchaser. Risk of loss or damage to
Equipment or Software returned to ACL for repair or replacement shall be borne
by Purchaser until delivery to ACL. Upon delivery of such Equipment or Software,
ACL shall assume the risk of loss or damage until that time that the Equipment
or Software being repaired or replaced is returned and delivered to Purchaser.
Purchaser will pay all transportation costs for Equipment or Software shipped to
ACL for repair or replacement. ACL shall pay all transportation costs associated
with returning repaired or replaced Equipment or Software to Purchaser.

     7.5  ACL will charge Purchaser for any maintenance carried out which is not
covered by the warranties contained in Section 7.2 or Section 8 at ACL's then
prevailing standard rates for such services.

8.   WARRANTY ON REPAIRED MATERIALS. ACL warrants that the Equipment or Software
     ------------------------------
returned by ACL following repair shall be free from defective materials and
faulty workmanship and that the Software will conform in all material respects
to ACL's published specifications therefor for ninety (90)
<PAGE>

days from Delivery or until the end of the Initial Warranty Period, whichever is
longer.

9.   LIMITATION OF LIABILITY.
     -----------------------

     9.1   WITHOUT PREJUDICE TO SECTION 9.4, IN NO EVENT SHALL ACL HAVE ANY
LIABILITY TO PURCHASER FOR LOSS OF PROFITS, INCOME OR DATA, INCIDENTAL,
CONSEQUENTIAL, OR INDIRECT DAMAGES OR LOSSES ARISING FROM THIS AGREEMENT OR ANY
COLLATERAL CONTRACT, WHETHER CAUSED BY NEGLIGENCE, BREACH OF CONTRACT OR
OTHERWISE, OR FOR LOSS, DAMAGE, OR EXPENSE INDIRECTLY ARISING FROM THE USE OF
THE EQUIPMENT OR THE SOFTWARE, OR THE INABILITY TO USE THEM EITHER SEPARATELY OR
IN COMBINATION WITH OTHER EQUIPMENT OR SOFTWARE, OR FROM ANY OTHER CAUSE.

     9.2   Without prejudice to Sections 9.3 and 9.4, ACL's liability for breach
of this Agreement shall in no circumstance exceed the Contract Price.

     9.3   ACL shall be liable for physical damage to Purchaser's property
resulting from its negligence up to a maximum of one million US Dollars
(US$1,000,000).

     9.4   Nothing in this Agreement shall exclude or in any way limit ACL
liability for death or personal injury caused by its negligence.

10.  SOFTWARE LICENCE.
     ----------------

     10.1  ACL shall grant Purchaser a nonexclusive, non-transferrable license
to use the Software, only with the Equipment purchased under this Agreement.
Software licensed under this Agreement is defined as computer programs contained
on a magnetic tape, disc, semiconductor device, or other memory, including: (a)
hardwired logic instructions which manipulate data in the central processor and
which control input-output operations, error diagnostics, and recovery routine;
and (b) instruction sequences in machine-readable code which control call
processing, peripheral equipment, and administration and maintenance functions
as well as associated documentation used to describe, maintain, and use the
programs.

     10.2  Any Software provided to Purchaser by ACL shall be treated as the
exclusive property of ACL, and Purchaser shall: (1) treat such Software as
Confidential Information under Section 12 of this Agreement; (2) utilise such
Software or any portions or aspects thereof (including any methods or concepts
utilised therein) solely in conjunction with the Equipment; (3) return to ACL
all memory media, documentation and/or other material that has been modified,
updated or replaced; (4) not modify, disassemble or decompile such Software, or
reverse engineer any portion of the Software or functioning of the ACL Products,
or permit others to do so, without ACL's prior
<PAGE>

written consent; and (5) not reproduce or copy such Software in whole or in part
except for backup and archival purposes or as otherwise permitted in writing by
ACL. Information to achieve interoperability of the Software with independently
created programs, within the meaning of Article 6 of the Directive on the Legal
Protection of Computer Programs, is available from ACL on written request.

     10.3  The obligations of Purchaser under this Section 10 shall survive the
termination of this Agreement for any reason and shall continue even if the
Software is no longer utilised with the Equipment.

11.  DOCUMENTATION. ACL shall furnish that documentation, if any, specified in
     -------------
Exhibit B to Purchaser to be used for the operation and ongoing maintenance of
the Equipment and Software. All such documentation is to be treated in
accordance with the terms of Section 12. Updates to the documentation shall be
at no charge during the Initial Warranty Period.

12.  CONFIDENTIAL INFORMATION.
     ------------------------

     12.1  All technical information, documentation, Software and other
proprietary information ("Confidential Information") supplied by ACL to
Purchaser under this Agreement, except for that which may be in the public
domain, shall, as between the parties hereto, be treated as the confidential and
proprietary information of ACL. Purchaser, except as specifically authorised in
writing by ACL, shall: (a) not disclose any Confidential Information received
from ACL to any person, except to its employees on a "need-to-know" basis; (b)
not reproduce any Confidential Information received from ACL, in whole or in
part; (c) use any Confidential Information received from ACL only for operation
and maintenance of the Equipment; and (d) indemnify ACL for any loss or damages
resulting from a breach of this Section 12.

     12.2  If this Agreement is terminated or cancelled, or if Purchaser is
found to have breached any of the provisions of Sections 10 or 12, Purchaser
agrees to immediately return all technical information, documentation, and
Software to ACL. In any event, the obligations of Sections 10 and 12 will
survive termination or cancellation of this Agreement.

13.  EXCUSABLE  DELAY.  ACL shall not suffer any liability for non-performance,
     ----------------
defective performance, or late performance under this Agreement due to causes
beyond its control and without its fault or negligence such as, but not limited
to, acts of God, war (including civil war), civil unrest, acts of government,
fire, floods, explosions, the elements, epidemics, quarantine, restrictions,
strikes, lock-outs, plant shutdown, material shortages, or delays in
transportation or delays of its suppliers or subcontractors for like cause. In
the event of excusable delay as defined in the preceding sentence, then ACL,
upon giving prompt written notice to Purchaser, shall be excused from such
performance on a day-to-day basis to the extent of such prevention, restriction,
or interference (and Purchaser shall
<PAGE>

likewise be excused from performance of its obligations on a day-to-day basis to
the extent Purchaser's obligations relate to the performance so prevented,
restricted, or interfered with), provided that ACL shall use its best endeavours
to avoid or remove such causes of non-performance and both parties shall proceed
to perform with dispatch whenever such causes are removed or cease to exist. ACL
reserves the right to cancel or otherwise terminate this Agreement if
Purchaser's performance is delayed for a period of more than thirty (30) days.

14.  GENERAL INDEMNITY.
     -----------------

     14.1  ACL agrees to indemnify and hold Purchaser harmless against all
costs, expenses, liabilities, damages, losses, claims, or proceedings incurred
by Purchaser in an action by a third party alleging that Purchaser's use of the
Equipment or the Software, separately or in combination, as a whole or in part,
constitutes an infringement of their intellectual property rights wherever in
the world enforceable, including applications to register and rights to apply
for any such rights ("Intellectual Property Rights"). ACL agrees to defend
Purchaser against any such claims and to pay all litigation costs, reasonable
lawyer's fees, settlement payments, and any damages awarded or resulting from
any such claim.

     14.2  Purchaser shall promptly advise ACL of any such suit, claim, or
proceeding and shall co-operate with ACL in the defence or settlement thereof.
ACL shall have sole control of the defence of any action involving such a claim
and of all negotiations for its settlement.

     14.3  In the event that an injunction is obtained against Purchaser's use
of the Equipment and/or the Software, in whole or in part, as a result of any
such claim under Section 14.1, ACL shall use its best efforts to either: (a)
procure for Purchaser the right to continue using the portions of the Equipment
or the Software enjoined from use; or (b) replace or modify the same with
functionally equivalent or better Equipment and/or Software so that Purchaser's
use is not subject to any such injunction. In the event that ACL cannot perform
the remedies set forth in Sections 14.3(a) or 14.3(b), then Purchaser shall have
the right to return such Equipment and the Software to ACL. In the event of such
return, ACL shall refund the depreciated value of the Equipment and the licence
to use the Software within thirty (30) days of the receipt by ACL of the
Equipment and the Software.

     14.4  This indemnity shall not apply to claims arising in respect of the
use of the Equipment or Software supplied by ACL or manufactured by its
suppliers in accordance with any design or any special instruction furnished by
Purchaser, or which is used by Purchaser in a manner or for a purpose not
contemplated by this Agreement.

     14.5  The provisions of this Section 14 set forth the entire obligation of
ACL with respect to any claim of infringement of Intellectual Property Rights.
<PAGE>

15.  REMEDIES AND TERMINATION.
     ------------------------

     15.1  ACL shall have the right, prior to payment to ACL of the Invoice
Total, to suspend its performance under this Agreement by written notice to
Purchaser and forthwith remove and take possession of any Equipment and Software
which has been delivered if Purchaser shall: (a) become insolvent; (b) have a
receiver or manager appointed over the whole or any part of its assets or
business; (c) make any composition or arrangement with its creditors; (d) take
or suffer any similar action in consequence of debt, or an order or resolution
is made for its dissolution or liquidation (other than for the purpose of
amalgamation or reconstruction); or (e) if Purchaser attempts to resell the
Equipment or Software without the consent of ACL.

     15.2  In the event of any material breach of this Agreement by either party
which shall continue for thirty (30) or more days after written notice of such
breach (including a reasonably detailed statement of the nature of such breach)
shall have been given to the breaching party by the aggrieved party, the
aggrieved party shall be entitled at its option: (a) if the aggrieved party is
Purchaser, to suspend its performance under Section 4 of the Agreement for as
long as the breach continues uncorrected; or (b) if the aggrieved party is ACL,
to suspend performance of all of its obligations under the Agreement for as long
as the breach continues uncorrected; (c) to avail itself of any and all remedies
available at law or equity whether or not it elects to suspend its performance
under Section 15.2(a) or 15.2(b) as applicable; or (d) to terminate this
Agreement.

     15.3  In the event (a) either party fails timely to discharge its
obligations under this Agreement and (b) the aggrieved party employs a lawyer in
order to collect any amount due and unpaid or to enforce any right or remedy
hereunder, then the defaulting party agrees that, in addition to all amounts due
hereunder, it shall pay all costs of collection or enforcement including court
costs and reasonable Lawyer's fees.

16.  PURCHASER'S RESPONSIBILITIES. To the extent that Purchaser requests
     -----------------------------
Installation Services, and ACL accepts the Purchase Order for such Installation
Services, then:

     a.    Purchaser shall ensure that all ACL-designated personnel have access
to Purchaser's premises and the Equipment during the times necessary to install,
maintain, and service the Equipment. ACL's personnel shall comply with site and
security regulations as specified by Purchaser.

     b.    Purchaser shall provide reasonable working space and facilities
including heat, light, ventilation, electric current and outlets for use by
ACL's designated personnel. Adequate storage space for equipment and materials
shall be made available by Purchaser as required. All such facilities shall be
provided at no charge to ACL.
<PAGE>

     c.   Any information which ACL reasonably requests from Purchaser and which
is required for ACL properly to install or maintain the Equipment shall be
provided by Purchaser in a timely fashion and form reasonably specified by ACL.

     d.   Purchaser shall not perform, or attempt to perform, or cause to be
performed any maintenance or repair to the Equipment during the term of this
Agreement, other than pursuant to this Agreement, without ACL's prior, written
consent.

17.  NOTICES.  All notices, requests, consents and other communications
     -------
hereunder must be in writing and will be deemed to have been properly given when
actually received by the party to whom sent, at the following addresses:


    If to ACL:                               If to PURCHASER:

    Contracts Manager                        Presidente Executivo
                                             ----------------------------
    Airspan Communications Ltd               Av. Jorge Basadre No. 910
                                             ----------------------------
    Cambridge House,                         San Isidro
                                             ----------------------------
    Oxford Road,                             Lima
                                             ----------------------------
    Uxbridge                                 Peru
    Middlesex
    UB8 1UN
    England

18.  HARDWARE AND SOFTWARE VERIFICATION
     ----------------------------------

     18.1 If Installation Services are ordered, ACL shall, upon completion of
the installation, test the Equipment. Purchaser may witness the installation and
test performance.

     18.2 When the Equipment and Software have satisfactorily completed all of
ACL's tests, ACL shall provide Purchaser with a "Hardware and Software
Verification" certificate. Provision of the certificate to Purchaser will be
deemed, for purposes of this Agreement, as "Completion of Installation".

19.  PUBLICITY.  Both parties agree not to publish any press releases or
     ---------
otherwise publicise the existence, or any of the terms, of this Agreement
without the prior written consent of the other party.

20.  MISCELLANEOUS.
     -------------

     20.1 This Agreement shall be construed in accordance with and governed by
the laws of England and Wales, without regard to its conflicts of law rules.
<PAGE>

     20.2  Any dispute, controversy or claim between the parties arising out of,
or in connection with, this Agreement, or the breach, termination or validity
thereof will be resolved by mutual agreement of the parties. If any dispute,
controversy, or claim arising out of or relating to this Agreement, or the
breach, termination, or validity thereof is unable to be resolved by mutual
agreement of the parties, each of the parties hereby (i) agrees that any action,
suit, or proceeding with respect to this Agreement (other than an action for
injunctive or equitable relief within the Territory) against it or its
properties or revenues must be brought exclusively in the English courts sitting
in London, England, and (ii) irrevocably submits to the exclusive jurisdiction
of any such court and any appellate court from any order or judgement thereof in
any such action, suit, or proceeding. Purchaser hereby irrevocably agrees that
all claims in respect of such action, suit, or proceeding may be heard and
determined in such courts. Purchaser hereby irrevocably waives, to the fullest
extent it may effectively do so, the defence of an inconvenient forum to the
maintenance of such action, suit, or proceeding. Purchaser agrees that a final
judgement in any such action, suit, or proceeding will be conclusive and may be
enforced in other jurisdictions by suit on the judgement or in any other manner
provided by law.

     20.3  ACL's delay or failure to enforce at any time any of the provisions
of this Agreement or any right with respect thereto, or to exercise any option
herein provided shall in no way be construed to be a waiver of such provision,
rights, or options, or in any way to affect its right later to enforce them.
ACL's exercise of any of its rights hereunder or of any options hereunder under
the terms or covenants herein shall not preclude or prejudice ACL from
thereafter exercising the same or any right which it may have under this
Agreement, irrespective of any previous action or proceeding taken by ACL
hereunder.

     20.4  This Agreement shall be binding upon and inure to the benefit of the
successors and assigns of ACL and shall be binding upon and inure to the benefit
of Purchaser's heirs, legal representatives, successors and permitted assigns.

     20.5  This Agreement and any Exhibit hereto shall be modified only by an
instrument in writing that is signed by duly-authorised representatives of the
parties.

     20.6  This Agreement is executed in English only, and Purchaser hereby
waives any right which it may have under the laws of any other jurisdiction to
have this Agreement executed in any other language.

     20.7  The provisions of this Agreement are severable, and if any provision
is held invalid or unenforceable in whole or in part in any jurisdiction, then
such invalidity or unenforceability will affect only such provision or part
thereof in such jurisdiction, and will not in any manner affect the provision in
any other jurisdiction, or any other provision in this Agreement in any other
<PAGE>

jurisdiction. To the extent legally permissible, an arrangement that reflects
the original intent of the parties will be substituted for such invalid or
unenforceable provision.

     20.8  All obligations that by their nature survive the expiration,
cancellation or termination of this Agreement shall remain in effect after its
expiration, cancellation or termination.

     20.9  Purchaser shall not be entitled to assign this Agreement or its
rights under it without the prior written consent of ACL. ACL may assign the
Agreement or its rights under it without recourse to Purchaser.

     20.10 In the performance of its obligations under this Agreement, Purchaser
shall at all times strictly comply with all export laws, regulations, and orders
of the United Kingdom and the United States of America. Purchaser specifically
acknowledges that Equipment, Software or technology supplied or licensed by ACL
under this Agreement are subject to U.K. and U.S. trade sanctions and export
control laws and regulations including, but not limited to, the various Foreign
Assets Control Regulations, the Export Administration Regulations, and the
International Traffic in Arms Regulations. Purchaser specifically acknowledges
that Equipment, Software, or technology obtained from ACL pursuant to this
Agreement shall not be exported, reexported, transhipped, disclosed, diverted,
or transferred, directly or indirectly, contrary to U.K. and U.S. laws, orders
or regulations.

21.  This document constitutes the entire agreement between the parties with
respect to the subject matter hereof, and supersedes all previous
communications, representations, understandings and agreements, either oral or
written, between the parties or any official or representative thereof.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the Effective Date, such parties acting by their officers,
being thereunto duly authorised.

Airspan Communications Ltd.                       Telecable Siglo 21 S.A.

By:_________________________________           By:____________________________

Name:_______________________________           Name:__________________________

Title:______________________________           Title:_________________________
<PAGE>

                                   EXHIBIT A
                                   ---------


                                "ACL Products"
<PAGE>

                                   EXHIBIT B
                                   ---------

"Price List"

                          Amendment (The "Amendment")
                          ---------------------------

                                    to the

                               Supply Agreement

           dated of an even date herewith (the "Agreement") between:

Airspan Communications Ltd., a company organised under the laws of England and
Wales, with its principal place of business at Cambridge House, Oxford Road,
Uxbridge, Middlesex, UB8 1UN, England ("ACL"), and

Telecable Siglo 21 S.A., a company organised under the laws of Peru, with its
principal office at Av. Jorge Basadre No. 910, San Isidro, Lima, Peru
("Purchaser").


WHEREAS, ACL and Purchaser wish to modify the Agreement such that whenever
language contained in this Amendment conflicts with the language contained in
the Agreement, the language contained in this Amendment shall control; and

WHEREAS, all terms used in this Amendment shall have the same meaning as the
terms used in the Agreement.

NOW, THEREFORE, the parties agree as follows:

1.   Exhibit A attached hereto is added to the Agreement.

2.   Exhibit B attached hereto is added to the Agreement.

3.   Exhibit C to the Agreement is deleted in its entirety.

4.   New Section 3.3 is added to the Agreement as follows.

     3.3  When the quantity of Subscriber Terminals (STs) Delivered under this
          Agreement reaches ten thousand (10,000), the Contract Price of the
          Subscriber Terminal (ST-P1V2) set forth in Exhibit B of the Agreement
          shall be reduced by a further * percent (*%) for future shipments.

     [*] Certain information on this page has been omitted and filed separately
     with the Securities and Exchange Commission. Confidential treatment has
     been requested with respect to the omitted portions.
<PAGE>

5.   The following is added to the end of Section 4.2 of the Agreement:

     "In consideration of Purchaser paying * percent (*%) of the Contract Price
     on receipt of the Purchase Order by ACL and in advance of Delivery by ACL,
     as set forth in Section 4.2, ACL will provide an Advance Payment Guarantee
     equal in value to the * percent (*%) of the Contract Price paid in advance
     by Purchaser. ACL will provide the Advance Payment Guarantee within fifteen
     (15) days of accepting the Purchase Order. The Advance Payment Guarantee
     will secure a full refund of the * percent (*%) of the Contract Price paid
     in advance by Purchaser as set forth above for any items not Delivered
     within three (3) months of ACL receiving Purchaser's advance payment of
     this amount or within such other time that the parties mutually agree upon
     in writing and which is stated in the conditions of the Advance Payment
     Guarantee. ACL will provide the Advance Payment Guarantee with a UK bank of
     its choice. Following Delivery, the Advance Payment Guarantee will be
     cancelled in whole or in part upon presentation to the bank of Delivery
     documentation for the ACL Products. If Purchaser wishes to draw the Advance
     Payment Guarantee or part thereof it shall notify ACL two (2) weeks in
     advance in writing of its intent and reason for wishing to do so and ACL
     will respond to Purchaser in writing."

     [*] Certain information on this page has been omitted and filed separately
     with the Securities and Exchange Commission. Confidential treatment has
     been requested with respect to the omitted portions.
<PAGE>

6.   Section 4.4 of the Agreement is deleted in its entirety and the following
     is substituted therefor:

     4.4  ACL will provide a performance bond to the value of ten percent (10%)
     of the Contract Value of Delivered Access Concentrators (ACs) and Central
     Terminals (CTs) if ACL is performing Installation Services for such items
     (a "Performance Bond"). The Performance Bond will be raised by ACL prior to
     Delivery and will remain valid until the earlier of Final Acceptance, as
     defined below, or ten (10) working days after Preliminary Acceptance, as
     defined below, or two (2) months after Delivery or the Performance Bond is
     terminated as provided for herein or in the terms of the Performance Bond.

     The amount of the Performance Bond corresponding to a particular AC or CT
     may only be drawn by Purchaser if the CT or AC fails to pass its
     Provisional Acceptance tests by a date to be agreed upon by the parties for
     each AC or CT on a case by case basis. "Provisional Acceptance" is defined
     as satisfactorily completing and passing the tests defined in the document
     "Site Acceptance Test Document" to be issued by ACL to Purchaser prior to
     commencement of the acceptance tests. When the ACL Products have
     satisfactorily completed the above tests, ACL shall provide Purchaser with
     a "Hardware and Software Verification" certificate. The "Site Acceptance
     Test Document" will be maintained under change control by ACL to take
     account of changes to the ACL Products and improvements in testing
     procedures.

     Final Acceptance means that the ACL Products are used to carry live
     traffic, such date to be documented by Purchaser to ACL.

     Purchaser shall not have the right to draw the Performance Bond if
     Preliminary Acceptance is not completed on time for reasons of force
     majeure events other events beyond its control, or if Preliminary
     Acceptance is delayed due to reasons attributable to Purchaser, or breaches
     by Purchaser or its contractors.

     If Purchaser wishes to draw the Performance Bond, or part thereof, it shall
     notify ACL of its reason for wishing to do so and give ACL a reasonable
     period of at least twenty (20) days to provide a cure or to respond in
     writing to Purchaser. If ACL provides a cure during this period Purchaser
     shall not draw the Performance Bond or part thereof. If ACL disputes the
     reason Purchaser gives for wishing to draw the Performance Bond, it shall
     notify Purchaser of this in writing within twenty days of receipt of
     Purchaser's written notice and Purchaser shall suspend its withdrawal of
     the Performance Bond and the parties will negotiate in good faith to
     resolve the issue and reach agreement on how to proceed and, if necessary,
     provide ACL with a reasonable period to provide a cure. If ACL disputes the
     reason Purchaser gives for wishing to draw the Performance Bond and the
     parties can not reach agreement on how to proceed as set forth above, the
     parties will seek resolution by arbitration or, failing that, by recourse
     to law.

All other terms and conditions of the Agreement shall remain in full force and
effect.
<PAGE>

The parties hereto have executed this Amendment as of the Effective Date of the
Agreement.

For Airspan Communications Ltd.               For Telecable Siglo 21 S.A.


 ..................................            ...............................

Name:                                         Name:

Title:                                        Title:
<PAGE>

                                   EXHIBIT A
                                   ---------

                                "ACL Products"

The ACL Products comprise:

 .  AS4000 series of products;

 .  AS8100 (Sitespan);

 .  AS9000 (Airplan); and

 .  STMON.
<PAGE>

                                   EXHIBIT B
                                   ---------

"Contract Price"

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
                                                          Unit                      Extended
Description                                               Price       Quantity         Price
                                                          (USD)                       (USD)
-----------------------------------------------------------------------------------------------
<S>                                                       <C>         <C>           <C>
            Subscriber Terminals
-----------------------------------------------------------------------------------------------
ST-P1V2 Ethernet+2-Line 64 & 32k POTS 2.5-2.7 GHz           *             *             *
Plan 1 (Ant, SIU, PSU)
-----------------------------------------------------------------------------------------------
CT and AC Rack Mechanics
-----------------------------------------------------------------------------------------------
CT Rack with RF Combiner shelf + 1 DA Modem shelf           *             *             *
-----------------------------------------------------------------------------------------------
CT Expansion Rack with 1 DA Modem shelf                     *             *             *
-----------------------------------------------------------------------------------------------
AC Rack with 2 AC shelves                                   *             *             *
-----------------------------------------------------------------------------------------------
CT Antenna Systems
-----------------------------------------------------------------------------------------------
Dual feeder port Omni Antenna system 2.5-2.7 GHz            *             *             *
-----------------------------------------------------------------------------------------------
CT Antenna Feder
-----------------------------------------------------------------------------------------------
CT Antenna Feeder (2x50m) + Installation kit                *             *             *
-----------------------------------------------------------------------------------------------
CT RF Plug in Sets
-----------------------------------------------------------------------------------------------
CT RF full plug in set 2.3-2.5 GHz Plan 1                   *             *             *
(2PA+MON+3PSU+2DIPLNA)
-----------------------------------------------------------------------------------------------
CT RF Expansion plug in set 2.3-2.5 GHz Plan 1              *             *             *
(PA+PSU+DIPLNA)
-----------------------------------------------------------------------------------------------
CT Modem Shelf Card Sets
-----------------------------------------------------------------------------------------------
DA Modem shelf full card set 2.3.2.5 GHz Plan 1             *             *             *
(RF+AU+TU+SC+2PSU+5Modems)
-----------------------------------------------------------------------------------------------
AC Shelf Plug-ins
-----------------------------------------------------------------------------------------------
AC Shelf full card set for Packet V5.2                      *             *             *
(2PSU+SC+2XTU+3CTU+3PTU+3CU)
-----------------------------------------------------------------------------------------------
Software and NMS
-----------------------------------------------------------------------------------------------
870-1000: AS8100 Sitespan Desktop Hardware                  *             *             *
Platform (Windows NT PC + Serial port expansion.)
-----------------------------------------------------------------------------------------------
870-2100: AS8100 Sitespan Client / Server software          *             *             *
and RTU license
-----------------------------------------------------------------------------------------------
870-2200: AS8100 Sitespan Additional Client/Server          *             *             *
software RTU license
-----------------------------------------------------------------------------------------------
870-2300: AS8100 Sitespan Shelf License                                   *
-----------------------------------------------------------------------------------------------
871-2000: V5.2 License per 2000 subscribers                 *             *             *
-----------------------------------------------------------------------------------------------
                                              Total:        -             -             *
-----------------------------------------------------------------------------------------------
</TABLE>

The above Contract Prices include a three percent (3%) discount.

[*] Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions.
<PAGE>

                                                                      EXHIBIT 21

Airspan's Subsidiaries

Airspan Communications (Ireland) Ltd.
Airspan Communications Holdings (Ireland)
Airspan Communications Ltd.
Airspan Networks PTY Ltd (Australia) Subsidiary of Airrspan Communications Ltd