Interim Results

FOR IMMEDIATE RELEASE 31 July 2006

        Unaudited Interim Results for the six months ended 30 June 2006         

MTI Wireless Edge Ltd., (ticker: MWE) ('MTI' or 'the Company'), a market leader
in the manufacture of flat panel antennas for fixed wireless broadband, today
announces its unaudited interim results for the six months ended 30 June 2006,
its fourteenth consecutive quarter of revenue growth.

Highlights

  * Revenues up 36% year on year to US$ 7.3 million (US$ 5.4 million)
   
  * Gross profit up 44% year on year to US$ 3.2 million (US$ 2.2 million) with
    gross margin of 44.3% (41.7%)
   
  * Net profits up 84% year on year to US$ 1.4 million (US$ 0.75 million) with
    increased net margin of 19.1% (14.1%)
   
  * Basic earnings per share up 30% to 3.1¢ (2.4¢)
   
  * Positive outlook for remainder of 2006 with healthy order book and
    opportunity pipeline
   
  * Net cash position of US$ 12 million (equating to 12p per ordinary share) as
    at 30 June 2006
   
  * Intention to pay out approximately 25 per cent. of net profit as dividend
    for the full financial year
   
  * Successful initial public offering and admission to AIM in March 2006 with
    offering oversubscribed and raising net proceeds of GB £5 million
   
Dov Feiner, Chief Executive Officer, commented: "MTI continued its strong top
line and earnings momentum in the first six months of the year, with improved
margins at all levels reporting its 14th consecutive revenue growth. Our
contracted but as yet unfulfilled order book is very healthy with US$ 4.1
million of committed revenues for the remainder of 2006, compared to US$ 2.75
million at this stage last year. US$ 3.8 million of this current order book is
due for completion during the third quarter. We have won significant new
contracts and our forward opportunity pipeline is encouraging. We sell our
products to the world's leading original equipment manufacturers of wireless
broadband systems, and our antennas are now installed in over 130 countries,
worldwide.

"The fixed wireless broadband equipment market is estimated to be growing by
more than 40 per cent. per year, according to Skylight Research, and therefore
presents an enormous potential for MTI as the world leader in the provision of
fixed broadband wireless antennas. We continue to work hard to develop
long-term business relationships with key partners and customers around the
world, as well as to leverage our market leading position by developing
additional emerging applications such as Radio Frequency Identification
(`RFID') antennas for use in inventory tracking and supply chain management in
large warehouses.

"The successful completion of our IPO is a major step for the Company,
providing us with additional capital to pursue our strategic international
expansion and product development whilst, at the same time, helping to raise
our international profile."

For further information, please visit www.mtiwe.com or contact:

Dov Feiner (CEO) / Moni Borovitz (CFO) Tel: [phone]

Luke Ahern / David Seal - Corporate Synergy Plc Tel: [phone]

Profit and Loss statementfor the six month period ended 30 June 2006

                                 Unaudited                 Audited     
                                                                       
(US$ `000s)               30 June          30 June     31 December 2005
                                                                       
                           2006             2005                       
                                                                       
Turnover                   7,290            5,372           11,694     
                                                                       
Gross Profit               3,229            2,242           4,914      
                                                                       
Operating Profit           1,350             836            2,043      
                                                                       
Net Profit                 1,392             756            1,749      
                                                                       
Basic earnings per          3.1              2.4             5.6       
share (US Cents)                                                       
                                                                       
Diluted earnings per       2.95               2              4.6       
share (US Cents)                                                       


Balance Sheet as at 30 June 2006

                                          30 June      30 June    31 December  
                                           2006          2005         2005     
                                                                               
                                                  U.S. $ in thousands          
                                                                               
                                               Unaudited             Audited   
                                                                               
ASSETS                                                                         
                                                                               
CURRENT ASSETS:                                                                
                                                                               
Cash and cash equivalents                  1,495        3,299         3,980    
                                                                               
Short-term investment                     10,678          -             -      
                                                                               
Trade receivables                          4,168        2,950         3,405    
                                                                               
Other receivables                           181          263           265     
                                                                               
Inventories                                1,287        1,093         1,008    
                                                                               
Total current assets                      17,809        7,605         8,658    
                                                                               
LONG TERM PREPAID EXPENSES                  28            10           26      
                                                                               
PROPERTY AND EQUIPMENT, NET                1,415        1,471         1,441    
                                                                               
OTHER ASSETS, NET                           458          372           450     
                                                                               
                                          19,710        9,458        10,575    

LIABILITIES AND SHAREHOLDERS' EQUITY                                           
                                                                               
CURRENT LIABILITIES:                                                           
                                                                               
Current maturities of long-term loans       87           87            87      
                                                                               
Trade payables                            2,229        1,663          1,669    
                                                                               
Other accounts payables                    883          483            599     
                                                                               
Total current liabilities                 3,199        2,233          2,355    
                                                                               
LONG-TERM LIABILITIES:                                                         
                                                                               
Liabilities to banks                        65          152            109     
                                                                               
Accrued severance pay                      208          166            174     
                                                                               
                                           273          318            283     
                                                                               
SHAREHOLDERS' EQUITY                                                           
                                                                               
Share capital                              115           2              2      
                                                                               
Additional paid-in capital                16,357       7,524          7,561    
                                                                               
Retained earnings                         (234)        (619)           374     
                                                                               
Total shareholders' equity                16,238       6,907          7,937    
                                                                               
                                          19,710       9,458         10,575    
                                                                               


Cash Flow Statement for the six months ended 30 June 2006

                                             Unaudited              Audited    
                                                                               
(US$ `000s)                           30 June        30 June      31 December  
                                                                      2005     
                                        2006           2005                    
                                                                               
Net Cash provided from operating       1,373           301           1,100     
activity                                                                       
                                                                               
Cash Flows From Investing                                                      
Activities:                                                                    
                                                                               
Sale (purchase) of short-term         (10,529)        2,095          2,095     
investment                                                                     
                                                                               
Purchase of property and equipment     (115)           (37)          (112)     
                                                                               
Net cash (used in) provided by        (10,644)        2,058          1,983     
investing activities                                                           
                                                                               
Cash Flows From Financing                                                      
Activities:                                                                    
                                                                               
Dividend distributed                  (2,000)           -                      
                                                                               
Additional capital raised in Aim       8,830            -                      
Listing, net                                                                   
                                                                               
Repayment of long-term loans            (44)           (44)           (87)     
                                                                               
Net cash used in financing             6,786           (44)           (87)     
activities                                                                     
                                                                               
Increase (Decrease) in cash and       (2,485)         2,315          2,996     
cash equivalents                                                               
                                                                               
cash and cash equivalents at           3,980           984            984      
beginning of period                                                            
                                                                               
cash and cash equivalents at end       1,495          3,299          3,980     
of period                                                                      

Notes to the Interim Results

1.         Basis of Preparation

The results for the six months ended 30 June 2006 are unaudited. They have been
prepared on accounting bases and policies that are consistent with those used
in the preparation of the financial statements of the company for the 12 months
ended 31 December 2005, which were prepared with accordance with International
Financial Reporting Standards (IFRS).

2.         Earnings per Share

Earnings per share has been calculated based on 44,644,010 (47,264,710 fully
diluted) ordinary shares for the six months ended 30 June 2006 and 31,470,000
(37,932,000 fully diluted) ordinary shares for the six months ended 30 June
2005.

About MTI Wireless Edge

MTI designs and manufactures flat panel antennas, largely supplied to
international OEMs of fixed broadband wireless access systems. With over 30
years of technical `know-how', flexible high volume manufacturing capabilities
and low failure rates, MTI's antennas now comprise approximately 25% of the
global fixed broadband wireless antenna market. In addition, the Company has
successfully developed products for new commercial applications as wireless
systems become increasingly prevalent in new markets.