Clearwire Corporation Provides Transaction Update

Clearwire Corporation Provides Transaction Update

BELLEVUE, Wash., Feb. 27, 2013 (GLOBE NEWSWIRE) -- Clearwire (NASDAQ: CLWR)
today announced that it has elected to take the $80 million March draw under
the terms of its agreements with Sprint Nextel Corporation ("Sprint") that
provide additional financing to Clearwire in the form of exchangeable notes,
which will be exchangeable under certain conditions for Clearwire common stock
at $1.50 per share, subject to adjustment under certain conditions (the
"Sprint Financing Agreements"). Clearwire no longer has any right to take the
first two monthly draws under the Sprint Financing Agreements. The Special
Committee has not made any determination as to whether to take any future
draws under the Sprint Financing Agreements and has not made any determination
to change its recommendation of the current Sprint transaction.

As previously disclosed on January 8, 2013, Clearwire received an unsolicited,
non-binding proposal from DISH Network Corporation ("DISH"), which was a
preliminary indication of interest and subject to numerous, material
uncertainties and conditions. Consistent with its fiduciary duties to
Clearwire's non-Sprint class A stockholders, the Special Committee of
Clearwire's board of directors has engaged in discussions with DISH concerning
its proposal and with Sprint over the course of the last two months, and the
Special Committee intends to continue such discussions. The Special Committee
will pursue the course of action that it believes is in the best interests of
Clearwire's non-Sprint Class A stockholders.

Also, Clearwire and Sprint have amended the Sprint Financing Agreements to
remove the condition to Sprint's obligation to provide financing for the last
three draws (in August, September and October 2013) that an agreement has been
reached between Sprint and Clearwire on the accelerated build out of
Clearwire's wireless broadband network. This amendment will allow Clearwire,
at its option, to take the last three draws under the Sprint Financing
Agreements whether or not an accelerated build out agreement has been entered
into by the parties. Clearwire does not expect to enter into an accelerated
build-out agreement with Sprint at this time.

About Clearwire

Clearwire Corporation (NASDAQ:CLWR), through its operating subsidiaries, is a
leading provider of 4G wireless broadband services offering services in areas
of the U.S. where more than 130 million people live. The company holds the
deepest portfolio of wireless spectrum available for data services in the U.S.
Clearwire serves retail customers through its own CLEAR^® brand as well as
through wholesale relationships with some of the leading companies in the
retail, technology and telecommunications industries, including Sprint and
NetZero. The company is constructing a next-generation 4G LTE Advanced-ready
network to address the capacity needs of the market, and is also working
closely with the Global TDD-LTE Initiative to further the TDD-LTE ecosystem.
Clearwire is headquartered in Bellevue, Wash. Additional information is
available at http://www.clearwire.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of
the securities laws. The words "may," "could," "should," "estimate,"
"project," "forecast," "intend," "expect," "anticipate," "believe," "target,"
"plan," "providing guidance" and similar expressions are intended to identify
information that is not historical in nature.

This press release contains forward-looking statements relating to the
proposed merger and related transactions (the "transaction") between Sprint
and Clearwire. All statements, other than historical facts, including
statements regarding the expected timing of the closing of the transaction;
the ability of the parties to complete the transaction considering the various
closing conditions; the expected benefits and synergies of the transaction;
the competitive ability and position of Sprint and Clearwire; and any
assumptions underlying any of the foregoing, are forward-looking statements.
Such statements are based upon current plans, estimates and expectations that
are subject to risks, uncertainties and assumptions. The inclusion of such
statements should not be regarded as a representation that such plans,
estimates or expectations will be achieved. You should not place undue
reliance on such statements. Important factors that could cause actual results
to differ materially from such plans, estimates or expectations include, among
others, any conditions imposed in connection with the transaction, approval of
the transaction by Clearwire stockholders, the satisfaction of various other
conditions to the closing of the transaction contemplated by the merger
agreement, and other factors discussed in Clearwire's and Sprint's Annual
Reports on Form 10-K for their respective fiscal years ended December 31, 2012
and December 31, 2011, respectively, their other respective filings with the
U.S. Securities and Exchange Commission (the "SEC") and the proxy statement
and other materials that will be filed with the SEC by Clearwire in connection
with the transaction. There can be no assurance that the transaction will be
completed, or if it is completed, that it will close within the anticipated
time period or that the expected benefits of the transaction will be realized.

Additional Information and Where to Find It

In connection with the transaction, Clearwire has filed a Rule 13e-3
Transaction Statement and a preliminary proxy statement with the SEC. When
completed, a definitive proxy statement and a form of proxy will be mailed to
the Clearwire's stockholders. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO
READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CLEARWIRE AND
THE TRANSACTION. Investors and security holders may obtain free copies of
these documents (and, when available, will be able to obtain a copy of the
definitive proxy statement) and other documents filed with the SEC at the
SEC's web site at www.sec.gov. In addition, the documents filed by Clearwire
with the SEC may be obtained free of charge by contacting Clearwire at
Clearwire, Attn: Investor Relations, (425) 505-6494. Clearwire's filings with
the SEC are also available on its website at www. clearwire.com.

Participants in the Solicitation

Clearwire and its officers and directors and Sprint and its officers and
directors may be deemed to be participants in the solicitation of proxies from
Clearwire stockholders with respect to the transaction. Information about
Clearwire officers and directors and their ownership of Clearwire common
shares is set forth in the proxy statement for Clearwire's 2012 Annual Meeting
of Stockholders, which was filed with the SEC on April 30, 2012. Information
about Sprint officers and directors is set forth in Sprint's Annual Report on
Form 10-K for the year ended December 31, 2011, which was filed with the SEC
on February 27, 2012. Investors and security holders may obtain more detailed
information regarding the direct and indirect interests of the participants in
the solicitation of proxies in connection with the transaction by reading the
preliminary and definitive proxy statements regarding the transaction, which
will be filed by Clearwire with the SEC.

CONTACT: Media Contacts:
         Susan Johnston, (425) 505-6178
         susan.johnston@clearwire.com
        
         JLM Partners for Clearwire
         Mike DiGioia or Jeremy Pemble, (206) 381-3600
         mike@jlmpartners.com or jeremy@jlmpartners.com
        
         Investor Contacts:
         Alice Ryder, (425) 505-6494
         alice.ryder@clearwire.com
        
         MacKenzie Partners for Clearwire
         Dan Burch or Laurie Connell, (212) 929-5500
         dburch@mackenziepartners.com or lconnell@mackenziepartners.com

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