CREST URGES CLEARWIRE HOLDERS TO VOTE AGAINST SPRINT MERGER

(The following is a reformatted version of a press release
issued by Crest Financial Limited and received via e-mail. The
release was confirmed by the sender.) 
Crest Financial Issues Presentation Urging Clearwire
Stockholders to Vote Against Sprint-Clearwire Merger 
Document Highlights Eagerness of DISH and SoftBank to Control
Clearwire Spectrum 
HOUSTON, May 9, 2013 -- Crest Financial Limited, the largest of
the independent, minority stockholders of Clearwire Corporation
(NASDAQ: CLWR), yesterday filed a 40-page presentation with the
Securities and Exchange Commission detailing its reasons for
asking Clearwire stockholders to reject the proposed merger with
Sprint Nextel Corporation. 
The presentation elaborates on Crest’s long-held contentions
that the price Sprint is offering to pay Clearwire stockholders
for their shares is highly inadequate and that the Clearwire
Board entered into an unfair Merger Agreement with Sprint, is
plagued by weak corporate governance, is under undue influence
of Sprint and has failed to protect non-Sprint stockholders. 
In addition, the presentation highlights statements from the
chief executives of DISH Network and SoftBank earlier this month
suggesting that the real prize offered by an acquisition of
Sprint is acquiring control of Clearwire and its valuable
spectrum.  As noted in the presentation, DISH’s Charlie Ergen,
as reported in the Denver Business Journal, said, “It’s better
for us to own Sprint, because then we control Clearwire.” In
addition, at SoftBank’s “Press Conference 2013 Summer,” SoftBank
Chief Executive Officer Masayoshi Son said: “In the Sprint-SoftBank transaction, Clearwire’s spectrum is key.” 
David Schumacher, the General Counsel of Crest Financial, said:
“These statements confirm what Crest has been communicating to
Clearwire’s other shareholders for some time now:  The battle
for Sprint is really a battle for Clearwire’s valuable spectrum,
and that each of Sprint’s suitors wants to divert the value of
Clearwire’s spectrum assets to itself so as to extract maximum
benefit for itself to the detriment of Clearwire’s minority
shareholders.” 
Crest strongly urges Clearwire stockholders to vote “AGAINST”
the Sprint-Clearwire merger using the GOLD proxy card. 
D.F. King & Co, Inc. has been retained by Crest to assist it in
the solicitation of proxies in opposition to the merger. If
stockholder have any questions or need assistance in voting the
GOLD proxy card, please call D.F. King & Co. at (800) 949-2583.
The presentation can be found at http://www.dfking.com/clwr. 
About Crest Financial Limited
Crest Financial Limited (“Crest”) is a limited partnership under
the laws of the State of Texas. Its principal business is
investing in securities. 
Important Legal Information
In connection with the proposed merger of Clearwire with Sprint
Nextel Corporation (the “Proposed Sprint Merger”), Crest and
other persons (the “Participants”) have filed a definitive proxy
statement with the U.S. Securities and Exchange Commission
(“SEC”). The definitive proxy statement was mailed to the
stockholders of Clearwire on or about May 6, 2013.
SECURITYHOLDERS OF CLEARWIRE ARE URGED TO READ THE DEFINITIVE
PROXY STATEMENT, WHICH IS AVAILABLE NOW, AND THE PARTICIPANTS’
OTHER PROXY MATERIALS FILED WITH THE SEC WHEN THEY BECOME
AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING
ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS, CLEARWIRE
AND THE PROPOSED SPRINT MERGER. The definitive proxy statement
and all other proxy materials filed with the SEC are available
at no charge on the SEC’s website at http://www.sec.gov.  In
addition, the definitive proxy statement is also available at no
charge on the website of the Participants’ proxy solicitor at
http://www.dfking.com/clwr. 
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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