March 21, 2006
Sprint Nextel Receives Required Consents for Its Consent Solicitation and Offer to Guarantee IWO Holdings Notes
Senior Secured Floating Rate Notes due 2012
10.75% Senior Discount Notes due 2015
James Fisher, Sprint
Reston, Va. — 03/21/2006
Sprint Nextel Corp. (NYSE: S) announced today that based on consents received by 5:00 p.m., EST, March 20, 2006, from holders of IWO Holding's Senior Secured Floating Rate Notes due 2012 and 10.75% Senior Discount Notes due 2015, it has received sufficient consents to amend the indentures governing such notes as described in the registration statement on Form S-3/A filed with the Securities and Exchange Commission by Sprint Nextel Corporation on March 6, 2006.
IWO Holdings intends to enter into supplemental indentures implementing the amendments to the indentures which will be operative and binding on all holders, including the holders of any notes that did not deliver consents in the consent solicitation. The consent solicitation expired at 5 p.m. on March 20, 2006.
Bear, Stearns & Co. Inc. acted as the solicitation agent for the consent solicitation. The information agent for the consent solicitation was Georgeson Shareholder Communications, Inc. The depositary for the consent solicitation was U.S. Bank National Association.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of communications services bringing mobility to consumer, business and government customers. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks offering industry leading mobile data services; instant national and international walkie-talkie capabilities; and an award-winning and global Tier 1 Internet backbone. For more information, visit www.sprint.com.