Brian Sereda Appointed Acting Chief Financial Officer of Terabeam and Proxim Wireless

Terabeam, Inc. (NASDAQ:TRBM), a leading developer and
supplier of broadband wireless solutions, today announced that Brian
Sereda, Vice President of Finance and Controller, has been appointed
to serve as Acting Chief Financial Officer and Acting Treasurer for
Terabeam, Inc. and its wholly owned subsidiary Proxim Wireless
Corporation.
   This appointment is a result of the medical condition of Patrick
Milton, Chief Financial Officer and Treasurer, and his transition to
disability leave.
   Brian has over 20 years of finance and accounting experience in
high growth technology companies. He was most recently Vice President
of Finance, Corporate Controller for Portal Software, a leading
worldwide provider of billing and revenue management solutions for the
global communications and media markets. Prior to Portal, Brian held
senior finance roles at Credence Systems Corp., a leading
semiconductor test equipment manufacturer, and Handspring Inc., a
former leader in handheld computing that was acquired by Palm Inc.
   Robert Fitzgerald, Terabeam's CEO, stated "We deeply regret the
circumstances underlying this appointment and wish Pat all the best
for a speedy recovery. However, our Board of Directors and the
management team are pleased to have someone with Brian's experience
and capabilities who can continue the strong financial leadership at
our company."

   About Terabeam and Proxim Wireless

   Terabeam, Inc. has two primary subsidiaries Proxim Wireless
Corporation and Ricochet Networks, Inc. Proxim Wireless is a global
pioneer in developing and supplying scalable broadband wireless
networking systems for enterprises, governments, and service
providers. From Wi-Fi to wireless Gigabit Ethernet - its WLAN, mesh,
point-to-multipoint, and point-to-point products are available through
its extensive global channel network, backed by world-class support.
Proxim is a Principal Member of the WiMAX Forum and is ISO-9001
certified. Ricochet Networks, Inc. is a leading portable Wireless
Internet Service Provider (WISP) with operational markets in Denver,
Colorado and San Diego, California. Additional information about
Terabeam can be found at its website located at
http://www.terabeam.com or by contacting the company by telephone at
413-584-1425 or by email at [e-mail]. Information about Proxim
and its products and support can be found at http://www.proxim.com

   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. Our 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 uncertainty as to when and
whether Mr. Milton will resume his roles as chief financial officer
and treasurer and future decisions our Board of Directors may make
concerning the permanent staffing of financial positions at our
company. Further information on these and other factors that could
affect our actual results is and will be included in filings made by
Terabeam from time to time with the Securities and Exchange Commission
and in our other public statements.