DragonWave Inc-Block Admission Return

FOR: DRAGONWAVE INC.

AIM, TSX SYMBOL: DWI

November 12, 2007

RNS only

OTTAWA, CANADA--(Marketwire - Nov. 12, 2007) - DragonWave Inc.("the Company")(TSX:DWI) (AIM:DWI)
announces that an application has been made by the Company to the AIM Market of the London Stock
Exchange plc for the block admission of up to;

- 100,000 Common shares of no par value each which may be allotted and issued in due course should
options granted to employees of the Company under the rules of the Company's Fourth Amended and
Restated Key Employee Stock Option/Stock Issuance Plan be exercised; and

- 200,000 Common shares of no par value each which may be allotted and issued in due course should
warrants exercisable into common shares of the Company be exercised.

As of today, the Company has an issued share capital of 28,439,264 ordinary voting shares of no par
value each.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

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

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

SUBJECT: STK

DragonWave Inc.

Dragonwave (LSE:DWI)
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