SoftBank Announces Registration Statement for Sprint Transaction Declared Effective by U.S. Securities and Exchange Commission

  SoftBank Announces Registration Statement for Sprint Transaction Declared
  Effective by U.S. Securities and Exchange Commission

Sprint Stockholder Meeting to Approve SoftBank Transaction Set for June 12 and
          Expectation to Close Transaction in Approximately 8 Weeks

Business Wire

TOKYO -- May 2, 2013

SoftBank Corp. (TSE: 9984) (“SoftBank”) today announced that the Form S-4
Registration Statement relating to its agreed transaction with Sprint Nextel
Corporation (NYSE: S) (“Sprint”) has been declared effective by the U.S.
Securities and Exchange Commission ("SEC"). The Form S-4 contains Sprint’s
definitive proxy statement related to soliciting the required approval of the
SoftBank merger by Sprint stockholders. Sprint is expected to commence the
mailing of the definitive proxy statement to its stockholders on May 3rd.
SoftBank encourages Sprint stockholders to review the proxy statement and to
vote FOR the adoption of the SoftBank merger agreement at the Sprint special
stockholders’ meeting to be held on June 12, 2013 in Overland Park, Kansas.

With the SEC review of the proxy statement/prospectus now complete, another
significant milestone to closing the Sprint-SoftBank transaction has been
achieved. SoftBank continues to work closely with Sprint on receiving the
remaining government approvals and anticipates closing on July 1, 2013 pending
receipt of these approvals.

SoftBank Holdings Inc. President Ron Fisher said, “The successful completion
of the SEC review and the commencing of the mailing of the definitive proxy
statement demonstrate the continued rapid progress we are making in closing
our transaction with Sprint. We are pleased with this progress and believe
that our ability to fund our investment in Sprint within a matter of weeks
will enable Sprint to continue and accelerate its capital investment plans in
2013 and beyond. Our investment will better position Sprint to win in the
ultra-competitive U.S. wireless marketplace, drive subscriber growth, and
create significant shareholder value.”

SoftBank continues to believe its agreement with Sprint creates significantly
greater value for Sprint stockholders than the highly-leveraged preliminary
proposal put forward recently by Dish Network Corporation.

The Registration Statement and proxy materials related to the merger agreement
are available at Sprint’s website at www.sprint.com/investors. If you have any
questions or need assistance in voting your shares, please call Sprint’s proxy
solicitor and the information agent for the offering, Georgeson Inc., toll
free at 1-866-741-9588 (banks and brokers call 212-440-9800). You can also
contact SoftBank’s proxy solicitor Morrow & Co., LLC toll free at
1-800-662-5200 (banks and brokers call 203-658-9400).

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 are set forth in the proxy statement/prospectus contained in
Starburst II’s Registration Statement on Form S-4, which was declared
effective by the SEC on May 1, 2013, 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.

Contact:

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