Mount Kellett Sends Third Letter to the Board of Clearwire

          Mount Kellett Sends Third Letter to the Board of Clearwire

PR Newswire

NEW YORK, Jan. 16, 2013

NEW YORK, Jan. 16, 2013 /PRNewswire/ - Mount Kellett Capital Management LP
("Mount Kellett") today sent a letter to the Clearwire Corporation (NASDAQ:
CLWR) ("Clearwire") Board of Directors outlining issues related to, among
other things, Clearwire's relationship with Sprint Nextel Corporation (NYSE:
S). Full text of the letter follows:

                                                              January 16, 2013

BY EMAIL & FEDEX

Clearwire Corporation
1475 120th Avenue NE
Bellevue, WA 98005
Attn: Special Committee of the Board of Directors

Dear Ladies and Gentlemen:

As you know from our previous correspondence, Mount Kellett Capital Management
LP ("Mount  Kellett" or  "we")  is a  multi-strategy private  investment  firm 
focused on  global value,  special  situations and  opportunistic  investing. 
Mount Kellett and funds  and accounts under  common control collectively  have 
beneficial ownership in Clearwire  Corporation ("Clearwire" or the  "Company") 
of 53.2 million shares,  or approximately 3.6%,  of the Company's  outstanding 
voting stock (the "Shares"), or approximately 7.3% of the Company' outstanding
voting stock not controlled by SprintNextel Corp ("Sprint").

We have of  course been  carefully monitoring  recent developments  concerning 
Clearwire and  its proposed  acquisition by  Sprint, including  the  Company's 
announcement on January 8, 2013 that  it had received an unsolicited  proposal 
from DISH to acquire  Clearwire at a premium  to the consideration offered  by 
Sprint, to  acquire certain  of  Clearwire's excess  spectrum and  to  provide 
financing to Clearwire.

The DISH proposal is further  evidence of what has been  clear to us for  many 
weeks:

1.The Special Committee, in breach of its fiduciary duties to the minority
    stockholders of Clearwire, utterly capitulated to Sprint's demand to sell
    the Company at a grossly inadequate price.
2.The Special Committee and the Board of Directors generally, in breach of
    their fiduciary duties and despite public assurances to the contrary,
    failed to conduct a vigorous process for the monetization of the Company's
    excess spectrum.
3.The Special Committee and the Board of Directors generally, in breach of
    their fiduciary duties, failed to adequately explore other financing
    alternatives available to the Company, instead accepting a highly coercive
    and highly dilutive convertible debt financing from Sprint.

Instead of doing  its job, the  Special Committee  opted for a  quick sale  to 
Sprint on the cheap. The result has been massive shareholder dissatisfaction,
litigation by  a  substantial shareholder  against  the transaction,  and  the 
likelihood—perhaps now a  certainty—that the Sprint  acquisition of  Clearwire 
will be voted down.

In light of these circumstances, it  is incumbent on the Special Committee  to 
take its time   to thoroughly  and thoughtfully evaluate  the DISH  proposal, 
including how  to  address  certain obstacles  to  consummating  the  proposal 
asserted by Sprint (such as through a potential reorganization process) and to
negotiate for all possible improvements to the proposal. The Special Committee
should refrain from compounding the harm to minority stockholders that results
from its  previous mistakes  and avoid  taking any  hasty actions  that  would 
jeopardize the opportunity of  minority stockholders to realize  substantially 
higher value  for their  Shares or  that would  permit a  transaction  between 
Sprint and  DISH that  does not  result in  a substantial  improvement in  the 
consideration to be paid to minority stockholders by Sprint.

We are available, as always, to discuss issues relevant to Clearwire at your
convenience.

                                                             Very truly yours,

                                           MOUNT KELLETT CAPITAL MANAGEMENT LP

                                                     By:______________________
                                                       Name: Jonathan Fiorello
                                                Title: Chief Operating Officer

About Mount Kellett Capital Management LP

Mount Kellett is a  multi-strategy private investment  firm focused on  global 
value,  special  situations   and  opportunistic  investing.   The  firm   has 
approximately 115  employees with  offices  in New  York, Dallas,  Hong  Kong, 
London, and Mumbai. The firm currently has  in excess of $7 billion in  assets 
under management.

SOURCE Mount Kellett Capital Management LP

Contact:

DFH Public Affairs

Ian Hamilton
416-206-0118 ext. 222

Gord Forstner
416-206-0118 ext. 221