Expiration of Offer to Purchase Outstanding Notes
LUBBOCK, Texas — 03/22/2006, AirGate PCS, Inc., a wholly-owned subsidiary of Sprint Nextel Corp. (NYSE: S), today announced that the offer to purchase its outstanding 9 3/8% Senior Subordinated Secured Notes due 2009 (the “2009 Notes”) and First Priority Senior Secured Floating Rate Notes due 2011 (the “Floating Rate Notes”) expired at 5:00 p.m. EST on March 16, 2006 in accordance with the terms and conditions set forth in the Notice of Change of Control and Offer to Purchase Notes Statement, dated Feb. 15, 2006. An aggregate principal amount of $180,300 of 2009 Notes was tendered. No Floating Rate Notes were tendered. On March 22, 2006, the Company accepted for payment all validly tendered notes and made payment to the trustee for the 2009 Notes in the amount of $101 per $100 principal amount of 2009 Notes, or a total consideration of approximately $185,906, which includes accrued and unpaid interest.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services 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/mr.
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