Retired Admiral Mike Mullen to Join Sprint’s Board of Directors and Serve as Security Director for the Company Following

  Retired Admiral Mike Mullen to Join Sprint’s Board of Directors and Serve as
  Security Director for the Company Following SoftBank Transaction

Business Wire

OVERLAND PARK, Kan. -- June 7, 2013

Sprint (NYSE: S) announced today that retired Admiral Mike Mullen will join
the company’s board of directors as an independent director upon the closing
of Sprint’s transaction with SoftBank. Admiral Mullen also will serve as the
company’s Security Director. In that role, he will oversee Sprint’s compliance
with the company’s National Security Agreement with the U.S. government and
serve as the U.S. government’s contact for all security-related matters.

“Admiral Mullen is an admired leader with an impeccable record,” said Sprint
CEO Dan Hesse. “We are fortunate that a person with his experience,
accomplishments and reputation will be a member of our new board.”

Admiral Mullen, age 66, served previously as the country’s 17^th Chairman of
the Joint Chiefs of Staff from October 2007 to September 2011. As Chairman,
Mullen was the highest-ranking officer in the U.S. Armed Forces and served as
the principal military advisor to the President of the United States. Prior to
that Admiral Mullen was the U.S. Navy’s 28^th Chief of Naval Operations
beginning in July 2005. He is only the third naval officer in the history of
the Navy to be appointed to four different four-star assignments; the others
being the Commander, U.S. Naval Forces Europe and Commander, Allied Joint
Force Command Naples, from October 2004 to May 2005, and as the 32^nd Vice
Chief of Naval Operations from August 2003 to August 2004. He retired from the
Navy after more than 43 years of service.

A native of Los Angeles, he graduated from the U.S. Naval Academy in 1968.
Admiral Mullen also serves as a Director of General Motors.

Sprint and SoftBank are parties to the previously disclosed agreement and plan
of merger, dated as of October 15, 2012, as amended. Consummation of the
Sprint-SoftBank merger remains subject to various conditions to closing,
including receipt of approval of the Federal Communications Commission and
adoption of the merger agreement by Sprint's stockholders. Sprint and SoftBank
anticipate the merger will be consummated in July 2013, subject to the
remaining closing conditions and the effect of the actions of the Special
Committee of Sprint's board of directors, which is currently in discussions
and negotiations with DISH Network Corporation regarding the unsolicited
proposal received from DISH in April 2013 or other developments with respect
to such proposal. Sprint’s Board of Directors recommends its stockholders vote
in favor of the transaction with SoftBank.

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 as
the most improved company in customer satisfaction, across all 47 industries,
during the last five 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.

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:

Sprint
John Taylor, 703-592-8530
john.b.taylor@sprint.com
 
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