Sprint Nextel Local Communications Company to EMBARQ™ on New Journey, Announces New Name and Logo to be Used After Separation
OVERLAND PARK, Kan. — 02/01/2006, Sprint Nextel Corp’s (NYSE: S) local communications company, which is expected to be separated from Sprint Nextel in the second quarter of 2006, has announced its new name and unveiled its new logo. The new company, EMBARQ™, plans to integrate products and offers in ways that make sense to customers.
The announcement was made to the local company’s employees today by the company’s chief executive officer designee, Daniel R. Hesse.
“The company’s new name, EMBARQ, and logo are meant to signal the way we will do business and establish what a next-generation local communications company can be,” Hesse said. “This is a company that will be aggressive and innovative in the marketplace, and the new name and logo – with its distinctive and differentiating coloration – is the brand we want customers to remember.”
Gary D. Forsee, Sprint Nextel president and chief executive officer said, “The brand that the local business has chosen suits it well. EMBARQ will be an aggressive, dynamic, forward-thinking company with strong assets, product know how and solid leadership.”
The new company, officially known as Embarq Corporation, will begin using the EMBARQ name and logo broadly in the marketplace after formally separating from Sprint Nextel and plans to use the name and logo on a limited basis before the separation is completed. EMBARQ expects to trade on the New York Stock Exchange under the ticker symbol “EQ”. A key partner in the development of the brand strategy, name and logo was SALT Branding, based in San Francisco. For more information, visit www.embarq.com.
Upon the separation from Sprint Nextel, EMBARQ is expected to be a NYSE-listed company with approximately $6 billion in annual revenues, rank among the Fortune 500 and serve as the fifth largest local communications company in the United States based on the company’s 7.4 million access lines as of Sept. 30, 2005. The company will provide a suite of communications services, consisting of local and long distance voice and data services, including high-speed Internet access. The company expects to have approximately 20,000 employees at the time of the separation from Sprint Nextel.
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.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
The matters discussed in this press release that are not historical or current facts deal with potential future circumstances and developments, in particular relating to completion of the separation. This discussion is qualified by the inherent risks and uncertainties surrounding future events generally and also may differ materially from actual future experience involving any one or more of such matters. Such risks and uncertainties include: the result of the review of the proposed separation by various regulatory agencies and any conditions imposed on Embarq Corporation or Sprint Nextel in connection with consummation of the separation, the approval of the separation by the Sprint Nextel board of directors, the receipt of satisfactory tax opinions and the risks that are described in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” contained in the Form 10 Registration Statement of Embarq Corporation, as filed with the Securities and Exchange Commission on January 23, 2006 and in Sprint Nextel’s filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2004, as amended, and its quarterly reports on Form 10-Q filed in 2005. In addition to the factors mentioned above and within the Form 10 Registration Statement and in Sprint Nextel’s filings with the Securities and Exchange Commission, economic, governmental, technological, capital market and other factors could affect the forward-looking statements in this press release. Forward-looking statements speak only as of the date they were made, and neither Sprint Nextel nor Embarq Corporation undertakes an obligation to update or revise any forward-looking statements in light of new information or future events.
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