FOR IMMEDIATE RELEASE

SiBEAM, Inc. Secures $21 Million in Series B Funding

SUNNYVALE, Calif. - August 22, 2006 - SiBEAM, Inc., a developer of high-speed wireless communication platforms, announced today that it has secured $21 million in Series B funding led by Foundation Capital and including follow-on investments from New Enterprise Associates and U.S. Venture Partners.

SiBEAM, recently named to the EE Times Emerging Startups List, is developing advanced wireless technology solutions that consumer electronics manufacturers, PC manufacturers, network infrastructure providers and others will incorporate into their next generation product lines for wireless communications. SiBEAM's founders include many leading industry pioneers in multi-gigabit wireless technology.

SiBEAM's Series B investors and board members include Dr. Forest Baskett of New Enterprise Associates, Dr. Arati Prabhakar of U.S. Venture Partners and Adam Grosser of Foundation Capital.

"From businesses to homes, the proliferation of digital content is driving the need for high-speed, high-quality wireless technology at an affordable price," noted Adam Grosser, General Partner at Foundation Capital. "SiBEAM's core wireless technology is far superior in all key measures. In addition, the team has flawlessly executed against its technology and market development plan for the last year, making SiBEAM a compelling proposition for investment."

Since the company secured its first round of funding in 2005, SiBEAM has augmented its already potent management team with several new appointments. Among the new executives is John LeMoncheck, recently announced as President and CEO. Prior to joining SiBEAM, Mr. LeMoncheck served as vice president of Consumer Electronics and PC/Display Products at Silicon Image (NASDAQ: SIMG). Before that, Mr. LeMoncheck held management positions at TeraLogic (now part of Zoran Corporation), Arithmos (a business unit of ST Microelectronics) and Synaptics, a leading developer of interface solutions for the mobile computing and entertainment industries.

"We will accelerate the development of SiBEAM's revolutionary wireless technology as a direct result of this new investment in the company, " said Mr. LeMoncheck. "This is an important and inspiring vote of confidence by our investors."

About SiBEAM, Inc.
Founded in 2004, SiBEAM is a developer of semiconductor systems solutions for high-speed communications platforms. The company is developing new, intelligent wireless technologies and leveraging the latest manufacturing methods to meet demand for high-bandwidth services. Additional information on the company can be found at www.sibeam.com.


Contact: Tim Johnson or Joshua Steinfeld, Stearns Johnson Communications,
Tel: 415.397.7600
Email: tjohnson@stearnsjohnson.com; jsteinfeld@stearnsjohnson.com