CREST FINANCIAL MAKES DEMAND FOR CLEARWIRE’S SHAREHOLDERS LIST

(The following is a reformatted version of a press release
issued by Crest Financial and received via e-mail. The release
was confirmed by the sender.) 
Crest Financial Limited Makes Demand for Clearwire’s
Shareholders List and Hires Proxy Solicitation Firm D.F. King &
Co. 
HOUSTON, March 20, 2013 - Crest Financial Limited, a Texas-based
investment company, announced today that it has hired proxy-solicitation firm D. F. King & Co., Inc. to help it oppose the
proposed acquisition of Clearwire Corporation (NASDAQ: CLWR) by
Sprint Nextel Corporation.  As part of this effort, Crest has
demanded that Clearwire make available the company’s list of
shareholders.  Crest is the largest Clearwire shareholder
unaligned with Sprint, holding approximately 3.9% of all common
stock of Clearwire. 
The Sprint-Clearwire merger agreement requires the approval of
holders of a majority of the Clearwire common stock not held by
Sprint, which means that the transaction would not be approved
if shareholders with approximately 25% of all common stock of
Clearwire either vote against the merger or do not vote at all.
Accordingly, in addition to the Clearwire shares held by Crest,
only approximately 21.1% of the other shareholders need to vote
against the Sprint-Clearwire merger or not vote at all in order
to block the transaction. 
Crest has filed a lawsuit in Delaware against Sprint and the
directors of Clearwire because Crest believes that the
defendants breached their fiduciary duties by scheming to
extract value from Clearwire at the expense of the minority
shareholders.  Crest has also petitioned the Federal
Communications Commission in Washington, D.C., to stop the
proposed Softbank-Sprint and Sprint-Clearwire mergers because
they would treat minority shareholders of Clearwire unfairly and
the mergers would not be in the public’s best interest.  A copy
of Crest’s petition can be found here:
www.bancroftpllc.com/crest. 
“Crest Financial believes that Clearwire’s shareholders will
reject Sprint’s unfair offer for Clearwire,” Dave Schumacher,
Crest’s general counsel, said. “Our actions today are aimed at
achieving this result. Crest is determined to do whatever it can
to stop Sprint’s efforts to extract for itself the value of
Clearwire’s trove of wireless spectrum and to harm minority
shareholders and the public interest. We look forward to sharing
with Clearwire’s minority shareholders more information on
Sprint’s coercive merger offer.” 
D. F. King & Co. is a leading full-service proxy solicitation
and corporate communications firm. It specializes in proxy
contests and tender offers. 
Important Legal Information 
Crest intends to file other documents with the U.S. Securities
and Exchange Commission (the “SEC”) regarding the proposed
acquisition of Clearwire, as contemplated by the Agreement and
Plan of Merger dated as of December 17, 2012 among Clearwire,
Sprint Nextel Corporation, a Kansas corporation (“Sprint”), and
Collie Acquisition Corp., a Delaware corporation and wholly-owned subsidiary of Sprint.  Before making any voting or
investment decision, investors and security holders of Clearwire
are urged to read such other documents regarding the proposed
acquisition, carefully in their entirety, because they contain
important information about the proposed transaction.  Investors
and security holders of Clearwire may obtain free copies of
other documents filed with, or furnished to, the SEC by Crest at
the SEC’s website at www.sec.gov. 
Forward-looking Statements 
Certain statements contained herein are forward-looking
statements including, but not limited to, statements that are
predications of or indicate future events, trends, plans or
objectives.  Undue reliance should not be placed on such
statements because, by their nature, they are subject to known
and unknown risks and uncertainties.  Forward-looking statements
are not guarantees of future activities and are subject to many
risks and uncertainties.  Due to such risks and uncertainties,
actual events may differ materially from those reflected or
contemplated in such forward-looking statements.  Forward-looking statements can be identified by the use of the future
tense or other forward-looking words such as “believe,”
“expect,” “anticipate,” “intend,” “plan,” “should,” “may,”
“will,” believes,” “continue,” “strategy,” “position” or the
negative of those terms or other variations of them or by
comparable terminology. 
Contact:
Jeffrey Birnbaum, (202) 661-6367, JBirnbaum@BGRPR.com 
(sgp) NY 
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