Alvarion (in Receivership and Interim Liquidation) Announces Court Approval of Creditors' Plan

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| Source: ALVARION LTD.

ROSH HA'AYIN, Israel, March 12, 2014 (GLOBE NEWSWIRE) -- Alvarion® Ltd. (in receivership and interim liquidation) ("Alvarion" or the "Company") (OTCQB:ALVRQ) announced today that on March 11, 2014, the District Court of Tel Aviv – Yaffo approved the Company's proposed creditors plan of settlement.

The Company's creditors have 90 days or until June 15, 2014, to submit their claims to the Receiver. For additional information on submitting a claim, please contact Ms. Yael Barkai at yael@var-management.com or by fax +972-2-995-5777.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained herein are based largely on the Company's current expectations and assumptions and are subject to a number of risks and uncertainties. The Company cautions that trading in its ordinary shares is highly speculative and poses substantial risks. The Company emphasizes that its currently outstanding ordinary shares may have limited value, and urges extreme caution with respect to any existing or future investments in its ordinary shares. In addition, there is no guarantee that the Company will be successful in keeping its ordinary shares listed on NASDAQ and consequently on the Tel Aviv Stock Exchange. The Company makes no commitment to revise or update any forward-looking statements to reflect any facts, events or circumstances after the date any such statement is made, that may bear upon such forward-looking statements.

Investor & Media Contacts:

Elana Holzman