Leap Reports Granting of Inducement Awards

                  Leap Reports Granting of Inducement Awards

PR Newswire

SAN DIEGO, March 15, 2013

SAN DIEGO, March 15, 2013 /PRNewswire/ -- Leap Wireless International, Inc.
(NASDAQ: LEAP) reported today that it has issued inducement awards to two new
non-executive employees.

(Logo: http://photos.prnewswire.com/prnh/20101220/MM20546LOGO-a)

The awards were made on March 14, 2013 under Leap's 2009 Employment Inducement
Equity Incentive Plan, which provides for the granting of equity awards to new
employees of Cricket Communications, Inc. as an inducement to join the
company. The inducement awards consist of options to purchase up to 41,500
shares of Leap common stock and deferred stock units for 40,900 shares of Leap
common stock. The options have a ten year term and an exercise price equal to
the fair market value of Leap common stock on the date of grant. The awards
vest in four years, with the options vesting in equal 25 percent annual
increments and the deferred stock units vesting in 25 percent equal increments
on the second and third anniversaries of the date of grant and 50 percent on
the fourth anniversary of the date of grant. 

About Leap
Leap provides innovative, high-value wireless services to a fast-growing,
young and ethnically diverse customer base. With the value of unlimited
wireless services as the foundation of its business, Leap pioneered its
Cricket service. Cricket products and services are available nationwide
through company-owned stores, dealers, national retailers and at
MyCricket.com. Through its affordable, flat-rate service plans, Cricket
offers customers a choice of unlimited voice, text, data and mobile Web
services. Headquartered in San Diego, Calif., Leap is traded on the NASDAQ
Global Select Market under the ticker symbol "LEAP." For more information,
please visit www.leapwireless.com.

SOURCE Leap Wireless International, Inc.

Website: http://www.leapwireless.com
Contact: Greg Lund, Media Relations, +1-858-882-9105, glund@leapwireless.com,
or Amy Wakeham, Investor Relations, +1-858-882-6084, awakeham@leapwireless.com
 
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