DragonWave Ranked as Number Seven Fastest Growing Company in North America on Deloitte’s 2006 Technology Fast 500

Source: Press Release October 19, 2006 - Ottawa, Canada

DragonWave Inc a leading global supplier of next-generation wireless networks, today announced that it ranked Number seven on Deloitte’s 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001–2005. DragonWave grew 18,968% percent during this period.

"It is a tremendous honor to be recognized in the Deloitte's Fast 500," said Peter Allen, President and CEO of DragonWave. "The rapid growth in wireless services has created unprecedented demand for our solution in North America. We are well positioned to capitalize on this incredible market opportunity as wireless Metro Ethernet networks are aggressively deployed across North America."

“Sustaining high revenue growth over five years is an exceptional accomplishment. We commend DragonWave for making the commitment to technology and delivering on the promise of market longevity,” said Tony Kern, deputy managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. We are proud to honor DragonWave’s ranking on the Deloitte Technology Fast 500 list.”

In addition to ranking on Deloitte’s Technology Fast 500, DragonWave ranked 5th on the Canadian Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Canada.

The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2001 to 2005.

Deloitte
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,200 people in 50 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

For more information, visit their website at http://www.deloitte.com/dtt/section_node/0,1042,sid%253D56072,00.html.

DragonWave Incorporated
DragonWave designs, markets and supports broadband, wireless networking products for service providers and enterprises requiring reliable, predictable, interference-free, high-bandwidth transmission of real-time, IP applications. DragonWave products meet the demands of a wide range of applications as well as delivering a value proposition that enables operators and service providers an "invest as you grow" capability that leverages profitable growth. DragonWave is headquartered in Ottawa, Canada's high-technology capital.

The company's Web site is http://www.dragonwaveinc.com.