CORRECTING and REPLACING Liberty Interactive Announces Extraordinary Cash Distribution and Reference Share Adjustment on its

  CORRECTING and REPLACING Liberty Interactive Announces Extraordinary Cash
  Distribution and Reference Share Adjustment on its Senior Exchangeable
  Debentures Relating to Sprint Common Stock

CORRECTION...by Liberty Interactive LLC

Business Wire

ENGLEWOOD, Colo. -- August 16, 2013

Please replace the corrected release dated July 23, 2013 with the following
corrected version due to further revisions throughout.

The corrected release reads:

 LIBERTY INTERACTIVE ANNOUNCES EXTRAORDINARY CASH DISTRIBUTION AND REFERENCE
  SHARE ADJUSTMENT ON ITS SENIOR EXCHANGEABLE DEBENTURES RELATING TO SPRINT
                                 COMMON STOCK

Liberty Interactive LLC (“Liberty”), a subsidiary of Liberty Interactive
Corporation (Nasdaq: LINTA, LINTB, LVNTA, LVNTB), announced today that it will
make an extraordinary cash distribution to holders of record on July 24, 2013,
of its 4.0% Senior Exchangeable Debentures due 2029 and 3.75% Senior
Exchangeable Debentures due 2030 (the “Debentures”). The cash distribution to
be made per $1,000 principal amount of each Debenture is indicated in the
table below (the “Extraordinary Distribution”). The distribution date for the
Extraordinary Distribution is August 7, 2013.

The Extraordinary Distribution is being made by Liberty as a result of the
closing of the merger transaction (the “Merger Transaction”) between Sprint
Nextel Corporation (“Sprint Nextel”) and SoftBank Corp. Stockholders of Sprint
Nextel were given the election (the “Merger Consideration Election”), for each
share of Sprint Nextel Series 1 common stock held by them, to receive either
(i) one share of common stock, par value $0.01 share (“Sprint Common Stock”),
of a new corporation named “Sprint Corporation” (“Sprint”) or (ii) cash in the
amount of $7.65, subject to proration and reallocation pursuant to the terms
of the Merger Transaction. Sprint has publicly announced that, in connection
with the Merger Consideration Election, Sprint has issued an aggregate of
850,899,628 shares of Sprint Common Stock and paid an aggregate of
$16,639,999,897 in exchange for the 3,026,063,027 shares of Sprint Nextel
Series 1 common stock that were eligible to participate in the Merger
Consideration Election.

Under the Indenture relating to the Debentures, the Merger Consideration
Election constituted a “reference share offer” which requires a “reference
share offer adjustment” to the number of reference shares underlying each
Debenture. Hence, in addition to the Extraordinary Distribution, Liberty has
made a “reference share proportionate reduction” to the number of reference
shares underlying the Debentures. The following table illustrates the payments
and reference share adjustments being made by Liberty.

Extraordinary Distribution and Reference Share Proportionate Reduction
                           4.0% Debentures         3.75% Debentures
Pre-merger Exchange Ratio   Sprint Nextel: 11.4743  Sprint Nextel: 8.3882
(shares per bond)            CenturyLink: .7860       CenturyLink: .5746
Post-merger Exchange Ratio  Sprint : 3.2265         Sprint: 2.3587
(shares per bond)            CenturyLink: .7860       CenturyLink: .5746
Cash Distribution per bond  $63.0960                $46.1258
Total Cash Distribution     $29,578,250             $21,217,832
                                                   

In accordance with the Indenture, the principal amount of the Debentures is to
be reduced by the amount of each extraordinary cash distribution that we pay
on the Debentures. In addition, the adjusted principal amount is to be further
reduced on each successive semi-annual interest payment date to the extent
necessary to cause the semi-annual interest payment on that date to represent
the payment by Liberty, in arrears, of an annualized yield equal to the stated
cash coupon rate on the adjusted principal amount of the Debentures. In no
event will the reductions to the principal amount of the Debentures affect the
amount of the semi-annual interest payments received by holders of the
Debentures, which will continue to be a rate of interest equal to the stated
cash coupon rate per annum of the original principal amount of the Debentures.
The following table illustrates the adjustment made to the principal amount of
the Debentures attributable to the Extraordinary Distribution.

                                                        
             Beginning                 Ending
             Adjusted     Principal    Adjusted    Beginning      Ending Total
           Principal   Adjustment  Principal  Total         Principal
             Amount per   per          Amount      Principal      Outstanding
             Bond         Bond         per         Outstanding
                                       Bond
4.0%        $1000.0000  $63.0960    $936.9040  $468,782,000  $439,203,750
Debentures
3.75%       $1000.0000  $46.1258    $953.8742  $459,999,000  $438,781,168
Debentures
                                                            

For federal income tax purposes the debentures are treated as "contingent
payment debt instruments" and the holders are required to recognize interest
income based on the "comparable yield" as originally determined for the
debentures. As of the time of their issuance, a "projected payment schedule"
was prepared for the debentures which would produce the comparable yield. The
extraordinary cash distribution does not change the original comparable yield
or the original projected payment schedule, and accordingly does not change
the amount of interest income holders are required to recognize as taxable
income, except to the extent described in the next sentence. Liberty intends
to treat the extraordinary cash distribution on each bond as a positive
adjustment pursuant to Treasury Regulation Section 1.1275-4(b)(6), and
therefore as additional interest on such bond. Each holder should consult
their tax advisor to determine the proper tax treatment of such distribution.

About Liberty Interactive LLC

Liberty Interactive LLC is a wholly owned subsidiary of Liberty Interactive
Corporation and owns interests in a broad range of electronic retailing,
media, communications, and entertainment businesses.

Contact:

Liberty Interactive Corporation
Courtnee Ulrich, 720-875-5420