Sprint Special Committee Provides Transaction Update

  Sprint Special Committee Provides Transaction Update

Business Wire

OVERLAND PARK, Kan. -- April 29, 2013

Sprint Nextel (NYSE: S) today announced that it had received from SoftBank
Corp. a waiver of various provisions of the merger agreement between Sprint
and SoftBank. The waiver will permit Sprint and its representatives, including
the Special Committee of the Sprint board, to enter into a non-disclosure
agreement and discussions with DISH for the purpose of clarifying and
obtaining further information from DISH regarding its proposal made on April
15, 2013. The SoftBank waiver does not permit Sprint to provide non-public
information to DISH nor does it enable Sprint to enter into negotiations with
DISH. Such actions may be taken by Sprint only in accordance with the
Sprint-SoftBank merger agreement.

Sprint does not intend to make any further comment on the work of the Special
Committee until it completes an assessment with respect to whether the DISH
proposal is, or is reasonably likely to lead to a Superior Offer (as defined
in the Sprint-SoftBank merger agreement) and the Sprint board has considered
such assessment.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel served more than 55 million
customers at the end of the first quarter of 2013 and is widely recognized for
developing, engineering and deploying innovative technologies, including the
first wireless 4G service from a national carrier in the United States;
offering industry-leading mobile data services, leading prepaid brands
including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant
national and international push-to-talk capabilities; and a global Tier 1
Internet backbone. The American Customer Satisfaction Index rated Sprint No. 1
among all national carriers in customer satisfaction and most improved, across
all 47 industries, during the last four years. Newsweek ranked Sprint No. 3 in
both its 2011 and 2012 Green Rankings, listing it as one of the nation’s
greenest companies, the highest of any telecommunications company. You can
learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and
www.twitter.com/sprint.

Contact:

Sprint Nextel
Media:
Doug Duvall, 571-287-8153
douglas.duvall@sprint.com
or
Investor:
Brad Hampton, 800-259-3755
investor.relations@sprint.com
 
Press spacebar to pause and continue. Press esc to stop.