NII Holdings Announces Strategy To Realign Resources To Support Future Growth

NII Holdings Announces Strategy To Realign Resources To Support Future Growth

PR Newswire

RESTON, Va., Nov. 6, 2012

RESTON, Va., Nov. 6, 2012 /PRNewswire/ --NII Holdings, Inc. [NASDAQ: NIHD] a
provider of differentiated mobile communications services operating under the
Nextel brand in Latin America, today announced that it is taking actions to
realign certain resources and roles between its headquarters and market units
in order to create a stronger and more agile organization, and to facilitate
future growth.

(Logo: http://photos.prnewswire.com/prnh/20110919/FL70458LOGO )

As part of this strategy, the Company is reassigning select positions located
at its headquarters to its operations in Latin America and eliminating certain
positions at its corporate headquarters. In total, the Company will reduce
approximately 20 percent of its workforce at its headquarters in Reston,
Virginia. These actions are designed to increase NII's operational agility,
to streamline decision-making, and to begin reducing corporate headquarters
costs, further strengthening the Company's ability to execute on its strategic
priorities in Latin America.

"These actions will provide us with the right structure to capture the growth,
scale, and accountability required to succeed in our markets and achieve our
long-term growth objectives," said Steve Dussek, NII Holdings' chief executive
officer. "By realigning our workforce, we will have a stronger foundation to
execute our growth strategy which is focused on premium networks, a superior
customer experience, and innovative products and services. The steps we are
taking fortify our ability to leverage our high-quality services and
technology in order to capture a larger share of the growing market for
wireless communications in Latin America."

The company expects to incur one-time costs in the fourth quarter of
approximately $8 million related to the headcount reduction at its corporate
headquarters.

About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Va., is a
provider of differentiated mobile communication services for businesses and
high value consumers in Latin America. NII Holdings, operating under the
Nextel brand in Brazil, Mexico, Argentina, Peru and Chile, offers fully
integrated wireless communications tools with digital cellular voice services,
data services, wireless Internet access and Nextel Direct Connect^® and
International Direct Connect(SM), a digital two-way radio. NII Holdings is a
Fortune 500 and Barron's 500 company, and has also been named one of the best
places to work among multinationals in Latin America by the Great Place to
Work^® Institute. The company trades on the NASDAQ market under the symbol
NIHD. Visit the company's website at www.nii.com.

Nextel, the Nextel logo and Nextel Direct Connect and International Direct
Connect are trademarks and/or service marks of Nextel Communications, Inc.,
and are used by NII's subsidiaries under license in Latin America.

Visit NII Holdings' news room for news and to access our markets' news
centers: nii.com/newsroom.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995. This news release includes "forward-looking statements" within the
meaning of the securities laws. The statements in this news release regarding
the business outlook and future performance, as well as other statements that
are not historical facts, are forward-looking statements. Forward-looking
statements are estimates and projections reflecting management's judgment
based on currently available information and involve a number of risks and
uncertainties that could cause actual results to differ materially from those
suggested by the forward-looking statements. With respect to these
forward-looking statements, management has made assumptions regarding, among
other things, network usage, customer growth and retention, pricing, operating
costs, the timing of various events, the economic and regulatory environment
and the foreign exchange rates that will prevail during 2012. Future
performance cannot be assured and actual results may differ materially from
those in the forward-looking statements. Some factors that could cause actual
results to differ include the risks and uncertainties relating to the impact
of more intense competitive conditions and changes in economic conditions in
the markets we serve; the impact on our financial results, and potential
reductions in the recorded value of our assets, that may result from
fluctuations in foreign currency exchange rates and, in particular,
fluctuations in the relative values of the currencies of the countries in
which we operate compared to the U.S. dollar; the risk that our network
technologies will not perform properly or support the services our customers
want or need, including the risk that technology developments to support our
services will not be timely delivered; the risk that customers in the markets
we serve will not find our services attractive; unexpected results of
litigation; and the additional risks and uncertainties that are described in
NII Holdings' Annual Report on Form 10-K for the fiscal year ended December
31, 2011, as well as in other reports filed from time to time by NII Holdings
with the Securities and Exchange Commission. This press release speaks only as
of its date, and NII Holdings disclaims any duty to update the information
herein.

Media Contacts:

NII Holdings, Inc.
1875 Explorer Street, Suite 1000
Reston, VA. 20190
(703) 390-5100
www.nii.com

Investor Relations: Tim Perrott
(703) 390-5113
tim.perrott@nii.com

Media Relations: Claudia Restrepo
(786) 251-7020
claudia.restrepo@nii.com

SOURCE NII Holdings, Inc.

Website: http://www.nii.com