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P. Schoenfeld Asset Management Demands Access To MetroPCS Books And Records Under Delaware Law

 P. Schoenfeld Asset Management Demands Access To MetroPCS Books And Records
                              Under Delaware Law

PR Newswire

NEW YORK, Feb. 13, 2013

NEW YORK, Feb. 13, 2013 /PRNewswire/ --On February 11, 2013, an investment
advisory client of P. Schoenfeld Asset Management LP (together with its
affiliates, "PSAM") sent a demand to inspect the books and records of MetroPCS
Communications, Inc. ("PCS") pursuant to Section 220 of the Delaware General
Corporation Law in order to obtain stockholder information from PCS to
facilitate communication with fellow stockholders as it relates to the
proposed reverse merger between PCS and T-Mobile USA ("T-Mobile").

As previously stated in a press release distributed on February 7, 2013, PSAM
intends to vote against the proposed merger between PCS and T-Mobile since
PSAM is of the opinion that it would be better for PCS to remain a stand-alone
company, while examining opportunities to consummate alternative transactions,
rather than accept the package of cash and securities being offered to PCS
stockholders.

As stated in its February 7th letter, PSAM believes that:

1. The new combined company ("PCS/T-Mobile") is not appropriately and fairly
capitalized; 

2. The interest rate on Deutsche Telekom's debt financing is far above
market, based on PCS/T-Mobile's anticipated credit rating; and

3. The exchange ratio is unfair to PCS stockholders.

PSAM plans to begin discussing its detailed analysis and views on the
transaction directly with stockholders to explain its reasons for believing
that the merger on the currently proposed terms is not in the best interests
of PCS stockholders.

Additional Information
P. Schoenfeld Asset Management LP (together with certain of its affiliates,
"PSAM") intends to file with the Securities and Exchange Commission (the
"SEC") a definitive proxy statement and accompanying proxy card if PSAM
proceeds with the solicitation of proxies from the stockholders of MetroPCS
Communications, Inc. ("MetroPCS") in connection with a special meeting of such
stockholders to be held to vote upon a proposed transaction between MetroPCS
and T-Mobile USA, Inc. Information relating to PSAM and the other
participants in any such solicitation has been included in materials filed on
February 7, 2013 by PSAM with the SEC pursuant to Rule 14a−12 under the
Securities Exchange Act of 1934, as amended. Stockholders of MetroPCS are
advised to read any such definitive proxy statement and other documents
related to any such solicitation when they become available, because they will
contain important information, including additional information related to the
participants in any such solicitation. When completed, any such definitive
proxy statement and proxy card will be furnished to some or all of the
stockholders of MetroPCS and will, along with other relevant documents, be
available at no charge on the SEC's web site at http://www.sec.gov. In
addition, PSAM will provide copies of the definitive proxy statement and
accompanying proxy card (when available) without charge upon request.

About PSAM
PSAM was founded by Peter M. Schoenfeld and has been providing investment
advisory services since 1997. PSAM invests on behalf of its clients in both
equity and credit securities in global event driven opportunities, including:
international consolidations, corporate restructurings, spin-offs,
divestitures, and stressed and distressed credits. PSAM has offices in New
York and London, which are registered with the SEC and authorised and
regulated by the FSA, respectively.



SOURCE P. Schoenfeld Asset Management LP (PSAM)

Contact: For Investor Inquiries,Arthur Crozier/Scott Winter, Innisfree M&A
Incorporated, +1-212-750-5833; or For Media Inquiries, Steve Bruce/Catherine
Jones, ASC Advisors, +1-203-992-1230