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CERAGON NETWORKS REPORTS FOURTH QUARTER AND YEAR-END 2008 FINANCIAL RESULTS

February 4, 2009

TEL AVIV, Israel, February 4, 2009 - Ceragon Networks Ltd. (NASDAQ and
TASE: CRNT), a leading provider of high-capacity wireless backhaul solutions, today
reported results for the fourth quarter and year which ended December 31, 2008.
Revenues for the fourth quarter of 2008 were $56.8 million, up 23.0% from $46.1
million for the fourth quarter of 2007 and down 2.3% from $58.1 million in the third quarter
of 2008.

Net income in accordance with US Generally Accepted Accounting Principles
(GAAP) for the fourth quarter of 2008 was $2.7 million or $0.07 per basic and diluted share,
compared to net income of $4.4 million in the fourth quarter of 2007, or $0.13 per basic share
and $0.12 per diluted share.

On a non-GAAP basis, net income for the fourth quarter, excluding $594,000 of
equity-based compensation expenses, was $3.3 million, or $0.09 per basic and diluted share.
Non-GAAP net income for the fourth quarter of 2007 was $4.9 million, or $0.15 per basic
share and $0.14 per diluted share (please refer to the accompanying financial table for
reconciliation of GAAP financial information to non-GAAP).

Revenues for the full year of 2008 were $217.3 million, up 34.2% from $161.9
million in 2007. Net income on a GAAP basis for 2008 was $26 million or $0.70 per basic
share and $0.68 per diluted share including $11.2 million of tax benefit relates to the initial
creation of deferred tax asset in the second quarter of 2008. Net income for the year 2007 was
$13.1 million or $0.44 per basic share and $0.41 per diluted share.

On a non-GAAP basis, net income for 2008 was $17.3 million, or $0.47 per basic
share and $0.45 per diluted share compared to a non-GAAP net income of $15.3 million, or
$0.52 per basic share and $0.48 per diluted share for 2007.

Gross margin on a GAAP basis in the fourth quarter of 2008 was 33.4% of revenues.
Gross margin on a non-GAAP basis in the fourth quarter of 2008 was 33.5% of revenues.
Cash and cash investments at the end of the quarter were $97.8 million.
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“In 2008 we continued to achieve excellent growth based on the strong foundation
we’ve been building for several years” Said Ira Palti, President and CEO of Ceragon. The
underlying drivers of our business, such as growth in mobile data usage and mobile subscriber
growth, are part of long term trends expected to continue for several years. Meanwhile, we
lack short term visibility as customers focus on maintaining flexibility, reducing inventory
and conserving cash in response to the spreading global financial crisis. We will manage
through this period by staying close to our customers, capitalizing on our strong position, and
preparing to take the company to the next level once economic conditions improve.”

Supplemental revenue breakouts:
Geographical breakdown:
Fourth quarter 2008 Full year 2008
Asia Pacific 47% 52%
Europe Middle-East and Africa 34% 31%
North America 12% 9%
Latin America 7% 8%
Segment breakdown:
Fourth quarter 2008 Full Year 2008
Service providers 88% 88%
Private networks 12% 12%

A conference call discussing Ceragon’s results for the fourth quarter of 2008, will
take place today, February 4, 2009, at 9:00 a.m. (ET). Investors are invited to join the
Company’s teleconference by calling (800) 230-1093 or international (612) 332-0228 at 8:50
a.m. ET. The call-in lines will be available on a first-come, first-serve basis.

Investors can also listen to the call live via the Internet by accessing Ceragon
Networks’ website at the investors’ page: https://www.ceragon.com/investors/events
selecting the webcast link, and following the registration instructions.
If you are unable to join us live, the replay numbers are: (800) 475-6701 or international (320)
365-3844, Access code 980455.
A replay of both the call and the webcast will be available through March 4, 2009.