DragonWave Inc. - Block Admission Upddate

    FOR:  DRAGONWAVE INC.

AIM, TSX SYMBOL:  DWI

November 13, 2008

DragonWave Inc.-Block Admission Upddate

RNS only

OTTAWA, CANADA--(Marketwire - Nov. 13, 2008) - DragonWave Inc.("DragonWave" or "the
Company")(TSX:DWI)(AIM:DWI) is providing an update to its block admission filed on November 13, 2007
(the "Scheme").

For the period from May 15, 2008 to November 13, 2008, DragonWave issued the following Common shares
under the Scheme:

- 450 Common shares of no par value each ("Common shares"), issued in due course under the rules of
the Company's Fourth Amended and Restated Key Employee Stock Option/Stock Issuance Plan (the "Plan");
and

- 78,534 Common shares issued in due course for warrants exchanged into common shares of the Company
(the "Warrants").

DragonWave did not issue and has the following balance of not yet issued securities under the Scheme:

- 98,459 Common shares in relation to the Plan (100,000 were originally admitted under the Scheme);
and

- 85,020 Common shares in relation to the Warrants (200,000 were originally admitted under the
Scheme).

As of today, the Company has an issued share capital of 28,555,785 ordinary voting shares of no par
value each.


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FOR FURTHER INFORMATION PLEASE CONTACT:

DragonWave Inc.
Russell Frederick
Chief Financial Officer
613-599-9991 ext. 2253
[e-mail]

OR

DragonWave Inc.
Bruce Chick
Director, Investor Relations
613-599-9991 ext. 2517
[e-mail]

OR

Canaccord Adams Limited
Neil Johnson/Andrew Chubb
44 20 7050 6500

SUBJECT:   STK

								
DragonWave Inc.