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Statistical properties of the four IEEE ultra-wide bandwidth channel models are derived. In particular, the correlations and probability density functions for the gains and powers of different multipath components are calculated. It is shown that most multipath components are correlated, and that most multipath components donpsilat follow a lognormal distribution. These results are useful in evaluating performances of ultra-wide bandwidth systems. As an application, the bit error rate of a maximal ratio combining Rake receiver is analyzed.