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PSAM To Host Live Webcast For MetroPCS Shareholders On April 4

        PSAM To Host Live Webcast For MetroPCS Shareholders On April 4

PSAM will host webcast for PCS shareholders on April 4 at 10:30 a.m. ET

- Will present overwhelming case against the MetroPCS/T-Mobile transaction and
answer shareholder questions

- Will discuss PCS's continued distortion of the facts

- Urges PCS to begin being an advocate for its own shareholders

PR Newswire

NEW YORK, April 2, 2013

NEW YORK, April 2, 2013 /PRNewswire/ --P. Schoenfeld Asset Management LP
("PSAM") will host a live presentation for all PCS shareholders via webcast on
Thursday, April 4, 2013 at 10:30 am ET to present its overwhelming case for
why PCS shareholders should vote AGAINST the proposed transaction between
MetroPCS Communications, Inc. ("PCS" or the "Company") and T-Mobile USA, Inc.
("T-Mobile") (the "Proposed Transaction") using the WHITE proxy card at the
April 12, 2013 Special Shareholder Meeting.

On the webcast, PSAM will answer shareholder questions and discuss PCS's
repeated distortion of the facts related to the Proposed Transaction—evidenced
again yesterday by their letter to PCS shareholders, which ignored the
recommendations made by Institutional Shareholder Services, Inc. ("ISS") and
Glass, Lewis & Co. ("Glass Lewis") to vote AGAINST the transaction and cherry
picked portions of quotes from those reports to attempt to support their case,
albeit unsuccessfully. PSAM agrees with Glass Lewis that the PCS Board's
process was "insufficient" and not conducted in a manner that maximized
shareholder value.

"MetroPCS's contractual obligations to T-Mobile cannot justify sending
distorted information about the transaction to PCS's shareholders," said PSAM
in response to today's letter sent to PCS shareholders. "PCS is trying to
ignore the fact that the leading independent proxy advisory firms—ISS and
Glass Lewis—and most PCS shareholders all agree that having PCS remain as a
stand-alone company is more attractive than pursuing a poorly structured and
poorly negotiated transaction with T-Mobile. It is clearly time for MetroPCS
to start listening to and advocating for, rather than fighting with, its own
shareholders."

The April 4^th live webcast will be hosted by Peter Schoenfeld, Chief
Executive Officer and Chief Investment Officer of PSAM; Douglas Polley,
Portfolio Manager at PSAM; and Richard Bilotti, Head of Special Situations
Research at PSAM.

PCS shareholders can access the live webcast at the following web link:
http://event.on24.com/r.htm?e=603379&s=1&k=1B0CCF45F1BF663C536EF27316C5B0D1

The webcast will include live audio and presentation slides detailing PSAM's
arguments against the Proposed Transaction in order to better inform PCS
shareholders why they should vote against it, followed by a question and
answer period. Shareholders will be able to submit questions through the
question box on their webcast portal. An archive of the webcast will be
available until July 1, 2013 at 5:00 pm ET.

We recommend that PCS shareholders register for the webcast 15 minutes prior
to the start time of the presentation and click on the "test your system" link
to ensure your Internet browser properly supports the webcast audio and slide
presentation.

If you do not have access to a computer, you can listen to live audio of the
presentation via the U.S. and International telephone numbers below. Please
note that PCS shareholders who would like to submit questions during the call
must do so through the webcast portal as the telephone lines will be listen
only.

Dial-in information is as follows:

U.S. Dial-in:          1-866-811-8843
International Dial-in: 1-631-485-5139
Conference ID:        30852432

On March 12, 2013, P. Schoenfeld Asset Management LP, P. Schoenfeld Asset
Management GP LLC and Peter M. Schoenfeld (collectively, the "PSAM Group")
filed with the Securities and Exchange Commission (the "SEC") a definitive
proxy statement (the "Definitive Proxy Statement") relating to the
solicitation of proxies by the PSAM Group from stockholders of MetroPCS
Communications, Inc. ("MetroPCS") in connection with the special meeting of
stockholders to be held on April 12, 2013 to vote upon matters relating to the
proposed combination of MetroPCS with T-Mobile USA, Inc. STOCKHOLDERS OF
METROPCS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS
FILED WITH THE SEC RELATING TO SUCH SOLICITATION CAREFULLY IN THEIR ENTIRETY
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO
THE PARTICIPANTS IN SUCH SOLICITATION. The Definitive Proxy Statement and form
of WHITE proxy card will be furnished to some or all of the stockholders of
MetroPCS and will, along with other relevant documents filed with the SEC, be
available free of charge at the SEC's website at http://www.sec.gov. In
addition, the PSAM Group will provide copies of the Definitive Proxy Statement
and accompanying WHITE proxy card without charge upon request.

About PSAM
P. Schoenfeld Asset Management LP (together with its affiliates, "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.

For Investor Inquiries:
Arthur Crozier/Scott Winter
Innisfree M&A Incorporated
(212) 750-5833

For Media Inquiries:
Steve Bruce/Catherine Jones
ASC Advisors
(203) 992-1230

SOURCE P. Schoenfeld Asset Management LP ("PSAM")
 
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