DRAGONWAVE INC ? GRANTING OF OPTIONS

    OTTAWA, CANADA--(Marketwire - Oct. 10, 2007) - DragonWave Inc. ("DragonWave") (TSX:DWI)(AIM:DWI) a
leading global supplier of next-generation wireless networks, today announced that a total of 12,400
options ("the Options") were granted on August 24, 2007 at the five day weighted average price of
$5.47 per option to the following Director of DragonWave.

Claude Haw      12,400

Total           12,400

The right granted to subscribe for ordinary shares is exercisable for up to 5 years from the vesting
start date, all Options granted under the Plan shall vest, as to twenty-five percent (25%) of the
Optioned Shares, on the one-year anniversary of the vesting start date, and thereafter, 1/36th of the
remaining Optioned Shares shall vest at the end of each month, such that all Optioned Shares subject
to issuance pursuant to the Option shall be vested on that date which is four (4) years after the Date
of Grant. Therefore the first available date for the exercise for up to 25% of the Options granted
will be March 1, 2008.

Following the grant of the above Options the company will have 1,160,600 shares under option in issue.

About DragonWave

DragonWave(TM) is a leading provider of high-capacity wireless Ethernet equipment used in emerging IP
networks. DragonWave designs, develops, and markets carrier-grade microwave radio frequency networking
equipment that wirelessly transmit broadband voice, video and other data. DragonWave's wireless
Ethernet products, which are based on a native Ethernet platform, function as a wireless extension to
an existing fibre-optic core telecommunications network. The principal application for DragonWave's
products is the backhaul function in a wireless communications network. Additional applications for
DragonWave's products include point-to-point transport in private networks, including municipal and
enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales
locations in Europe and North America. The company's Web site is http://www.dragonwaveinc.com


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FOR FURTHER INFORMATION PLEASE CONTACT:

DragonWave Inc.
Russell Frederick
Chief Financial Officer
613-599-9991 ext. 2253
rfrederick@dragonwaveinc.com

OR

DragonWave Inc.
Nadine Kittle
Media Relations
613-599-9991 ext. 2262
nkittle@dragonwaveinc.com

OR

Canaccord Adams Limited
Chris Bowman / Andrew Chubb
44 20 7050 6500

OR

Weber Shandwick Financial
John Moriarty
020 7067 0736
Mob: 07971 402224
jmoriarty@webershandwick.com

                                                                
DragonWave Inc.

Dragonwave (LSE:DWI)
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