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Sprint Files Investor Presentation Outlining Amended Merger Agreement with SoftBank and Due Diligence Process with DISH



  Sprint Files Investor Presentation Outlining Amended Merger Agreement with
  SoftBank and Due Diligence Process with DISH

Business Wire

OVERLAND PARK, Kan. -- June 12, 2013

Sprint (NYSE:S) today announced that it had filed an investor presentation
outlining its amended merger agreement with SoftBank Corp. (TSE: 9984)
(“SoftBank”), which provides investors with additional cash consideration of
$4.5 billion at closing.

The presentation, which can be found at: http://www.sec.gov, outlines the
significant value provided to Sprint stockholders through the transaction and
additional details on the due diligence process undertaken by the Special
Committee of Sprint’s Board on the preliminary proposal submitted by DISH
Network Corporation (“DISH”). The presentation also highlights the following
aspects of the amended merger agreement:

  * Revised offer maximizes value and certainty for Sprint stockholders
  * Sprint + SoftBank positions New Sprint better than ever before vis-à-vis
    key competitors in the market
  * Sprint stockholders will own approximately 22% of New Sprint, providing
    stockholders an opportunity to participate in the upside created by a
    better capitalized and more capable New Sprint
  * Special Committee and Sprint Board unanimously recommend FOR improved
    SoftBank transaction and determine DISH proposal not reasonably likely to
    lead to a superior offer

Supplemental proxy materials will be filed with the SEC and distributed to
stockholders in the near future and such materials and an election form will
also be distributed to stockholders in the near future.

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) one or more closing
conditions to the transactions may not be satisfied or waived, on a timely
basis or otherwise, including that a governmental entity may prohibit, delay
or refuse to grant approval for the consummation of the transactions or that
the required approval by Sprint’s stockholders for the SoftBank transaction or
Clearwire’s stockholders for the Clearwire transaction may not be obtained;
(2) there may be a material adverse change of Sprint or the business of Sprint
may suffer as a result of uncertainty surrounding the transactions; (3) the
transactions may involve unexpected costs, liabilities or delays; (4) the
legal proceedings that may have been initiated, as well as any additional
legal proceedings that may be initiated, related to the transactions; and (5)
other risk factors as detailed from time to time in Sprint’s, Starburst II’s
and Clearwire’s reports filed with the SEC, including Sprint’s and Clearwire’s
Annual Reports on Form 10-K for the year ended December 31, 2012 and Quarterly
Reports on Form 10-Q for the quarter ended March 31, 2013, 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. 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 the 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
Media Contacts:
Doug Duvall, 571-287-8153
douglas.duvall@sprint.com
or
John Taylor, 703-592-8530
john.b.taylor@sprint.com
or
Investor Contact:
Brad Hampton, 800-259-3755
investor.relations@sprint.com
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