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Sprint Announces the Expected Execution of Supplemental Indenture by its Subsidiaries, Clearwire Communications LLC and



  Sprint Announces the Expected Execution of Supplemental Indenture by its
  Subsidiaries, Clearwire Communications LLC and Clearwire Finance, Inc., with
  Respect to their 8.25% Exchangeable Notes due 2040

Extends Expiration Time with Respect to Consent Solicitation Relating to their
                     14.75% Senior Secured Notes due 2016

Business Wire

OVERLAND PARK, Kan. -- October 17, 2013

Sprint Corporation (“Sprint”) (NYSE:S) announced today that Clearwire
Communications LLC and Clearwire Finance, Inc. (together, the “Issuers”), its
wholly-owned subsidiaries, expect to enter into a supplemental indenture to
amend the indenture governing the Issuers’ 8.25% Exchangeable Notes due 2040
(the “2040 Notes”). The amendments will (i) permit the periodic reports filed
by Sprint, the indirect public parent of the Issuers, with the Securities and
Exchange Commission to satisfy the Issuers’ public reporting and related
obligations in the event that Sprint and Sprint Communications, Inc, in their
sole discretion, irrevocably and unconditionally guarantee the 2040 Notes and
(ii) provide that the Issuers will use commercially reasonable efforts to
obtain credit ratings for the 2040 Notes from two rating agencies on or before
December 31, 2013, or, if not obtained by such date, as soon as reasonably
practicable thereafter. Pursuant to their consent solicitation, the Issuers
received the consents of holders of a majority of the aggregate principal
amount of the 2040 Notes to effect the amendments prior to the expiration time
of 5:00 p.m., New York City time, on October 16, 2013. As a result, the
Issuers expect to enter into a supplemental indenture giving effect to the
amendments and to make cash payments of $2.50 for each $1,000 in aggregate
principal amount of 2040 Notes for which consent was provided.

Sprint also announced today that the Issuers have extended the expiration time
with respect to their previously announced consent solicitation to effect
certain proposed amendments to the indenture governing their 14.75% Senior
Secured Notes due 2016 (the “2016 Notes”) to 5:00 p.m., New York City time, on
October 18, 2013.

This press release does not set forth all of the terms and conditions of the
consent solicitation. Holders of 2016 Notes should carefully read the consent
solicitations statement dated October 9, 2013 (as amended and supplemented)
and the accompanying materials for a complete description of all terms and
conditions before making any decision with respect to the consent
solicitation. Additional information concerning the terms and conditions of
the consent solicitation, and the procedure for delivering consents, may be
obtained from the solicitation agent, BofA Merrill Lynch at (888) 292-0070
(toll free) or (980) 388-3646 (collect). Copies of the consent solicitations
statement and related documents may be obtained from the information agent,
D.F. King & Co, Inc., by calling (800) 431-9633 or (212) 269-5550 for banks
and brokers or by email atsprint@dfking.com. The Issuers, Sprint Corporation,
Sprint Communications, Inc., the trustee with respect to the 2016 Notes, the
solicitation agent and the information agent or the tabulation and payment
agent do not make any recommendation as to whether or not any holder should
consent to the proposed amendments.

This announcement is for information purposes only and is neither an offer to
sell or guarantee nor a solicitation of an offer to buy any series of notes or
any other securities. This announcement is also not a solicitation of consents
with respect to the proposed amendments or any securities. The solicitations
of consents are not being made in any jurisdiction in which, or to or from any
person to or from whom, it is unlawful to make such solicitations under
applicable state or foreign securities or “blue sky” laws.

Contact:

Sprint
Media Contact:
Scott Sloat, 240-855-0164
scott.sloat@sprint.com
or
Investor Contact:
Brad Hampton, 800-259-3755
investor.relations@sprint.com
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