SoftBank Provides Analysis on the Superiority of Its Sprint Transaction

  SoftBank Provides Analysis on the Superiority of Its Sprint Transaction

SoftBank Agreement Provides 21% Premium To Preliminary, Highly Leveraged DISH
                                   Proposal

Business Wire

TOKYO -- April 30, 2013

SoftBank Corp. (TSE: 9984) (“SoftBank”) today presented an analysis of its
agreed transaction with Sprint Nextel Corp. (NYSE: S) (“Sprint”), and
explained to investors why its transaction is superior to the highly
leveraged, preliminary approach put forward on April 15 by DISH Network
Corporation (NASDAQ: DISH) (“DISH”). SoftBank Chairman and CEO Masayoshi Son
outlined eleven key areas where the SoftBank transaction provides greater
benefits to Sprint shareholders and calculated how the SoftBank transaction
provides Sprint shareholders with cash, stock and synergies collectively
representing a 21% premium to the DISH proposal.

A video replay of Mr. Son’s presentation is available in English
at:http://webcast.softbank.co.jp/en/results/20130430_sprint/

Accompanying slides are available at:
http://www.softbank.co.jp/en/design_set/data/irinfo/library/presentation/results/pdf/2012/softbank_presentation_2012_004_01.pdf

Appendix data from the presentation is available
at:http://www.softbank.co.jp/en/design_set/data/irinfo/library/presentation/results/pdf/2012/softbank_presentation_2012_004_02.pdf

Cautionary Statement Regarding Forward Looking Statements

This document 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 document contains forward-looking statements relating to the proposed
transactions between Sprint Nextel Corporation (“Sprint”) and SoftBank Corp.
(“SoftBank”) and its group companies, including Starburst II, Inc. (“Starburst
II”), and the proposed acquisition by Sprint of Clearwire Corporation
(“Clearwire”). All statements, other than historical facts, including, but not
limited to: statements regarding the expected timing of the closing of the
transactions; the ability of the parties to complete the transactions
considering the various closing conditions; the expected benefits of the
transactions such as improved operations, enhanced revenues and cash flow,
growth potential, market profile and financial strength; the competitive
ability and position of SoftBank or Sprint; 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, that (1) there may be a
material adverse change of SoftBank; (2) the proposed financing may involve
unexpected costs, liabilities or delays or may not be completed on terms
acceptable to SoftBank, if at all; and (3) other factors as detailed from time
to time in Sprint’s, Starburst II’s and Clearwire’s filings with the
Securities and Exchange Commission (“SEC”), including Sprint’s and Clearwire’s
Annual Reports on Form 10-K for the year ended December 31, 2012, and other
factors that will be set forth in the proxy statement/prospectus contained in
Starburst II’s Registration Statement on Form S-4, as amended, and in other
materials that will be filed by Sprint, Starburst II and Clearwire in
connection with the transactions, which will be available on the SEC’s web
site (www.sec.gov). There can be no assurance that the transactions will be
completed, or if completed, that such transactions will close within the
anticipated time period or that the expected benefits of such transactions
will be realized.

All forward-looking statements contained in this document and the documents
referenced herein are made only as of the date of the document in which they
are contained, and none of Sprint, SoftBank or Starburst II undertakes any
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which the statement is made or to reflect the
occurrence of unanticipated events except as required by law. Readers are
cautioned not to place undue reliance on any of these forward-looking
statements.

Additional Information and Where to Find It

In connection with the proposed transaction between Sprint and SoftBank,
Starburst II has filed with the SEC preliminary drafts of a Registration
Statement on Form S-4 which includes a proxy statement of Sprint, and that
also will constitute a prospectus of Starburst II. Following the SEC’s
declaring the Registration Statement effective, Sprint will mail the proxy
statement/prospectus to its stockholders. INVESTORS ARE URGED TO READ THE
PROXY STATEMENT/PROSPECTUS, WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN
IMPORTANT INFORMATION. The proxy statement/prospectus, as well as other
filings containing information about Sprint, SoftBank and Starburst II, will
be available, free of charge, from the SEC’s web site (www.sec.gov). Sprint’s
SEC filings in connection with the transaction also will be available, free of
charge, from Sprint’s web site (www.sprint.com) under the tab “About Us -
Investors” and then under the heading “Documents and Filings - SEC Filings,”
or by directing a request to Sprint, 6200 Sprint Parkway, Overland Park,
Kansas 66251, Attention: Shareholder Relations or (913) 794-1091. Starburst
II’s SEC filings in connection with the transaction will also be available,
free of charge, by directing a request to SoftBank, 1-9-1 Higashi-Shimbashi,
Minato-ku, Tokyo 105-7303, Japan; telephone: +81.3.6889.2290; e-mail:
ir@softbank.co.jp.

Participants in the Merger Solicitation

The respective directors, executive officers and employees of Sprint,
SoftBank, Starburst II and other persons may be deemed to be participants in
the solicitation of proxies in respect of the transaction. Information
regarding Sprint’s directors and executive officers is available in its Annual
Report on Form 10-K for the year ended December 31, 2012. Other information
regarding the interests of such individuals as well as information regarding
Starburst II’s directors and executive officers and prospective directors and
executive officers will be available in the proxy statement/prospectus. These
documents will be available free of charge from the sources indicated above.
This communication shall not constitute an offer to sell or the solicitation
of an offer to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended.

Contact:

Media contacts:
Japan:
SoftBank Press office
+ 81 3 6889 2300
or
US:
Jim Barron, +1-212-687-8080
Megan Bouchier, +1-415-618-8750
Paul Kranhold, +1-415-618-8750
 
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