November 16, 2006

Sprint Nextel Announces Senior Notes Offering

RESTON, Va.--(BUSINESS WIRE)--Nov. 16, 2006--Sprint Nextel (NYSE:S) today announced that it has priced a $2.0 billion underwritten public offering of 6.00 percent senior notes due 2016. The notes will be issued under an indenture between Sprint Nextel Corp. and The Bank of New York Trust Company, N.A., as trustee. The terms of the notes include those stated in the indenture and those made part of the indenture by reference to the Trust Indenture Act of 1939.

The notes will rank equally with Sprint Nextel Corp.'s other indebtedness. Banc of America Securities LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are joint book-running managers. Interested parties may obtain a written prospectus from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001, Citigroup Global Markets Inc., 388 Greenwich St., New York, NY 10013 and J.P. Morgan Securities Inc., 270 Park Ave., New York, NY 10017, Attention: High Grade Securities Desk.

The net proceeds from the offering will be used for general corporate purposes, which may include funding the repayment of all or a portion of the 6.00 percent Senior Notes due Jan. 15, 2007, of Sprint Capital Corp., a wholly owned subsidiary, of which approximately $1.6 billion were outstanding as of Sept. 30, 2006. The sale of the debt securities is expected to close on Nov. 20, 2006.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline communications services.

    CONTACT: Sprint Nextel
             James Fisher, 703-433-8677

    SOURCE: Sprint Nextel

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