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Sprint Nextel Completes Change Of Control Offer For Ubiquitel Outstanding Senior Notes


WEBWIRE –

RESTON, Va. — 08/17/2006 - UbiquiTel Operating Company, an indirect subsidiary of Sprint Nextel Corp. (NYSE: S), today announced the completion of a change of control offer to purchase its 9⅞ percent Senior Notes (the “Notes”) due 2011 outstanding under the Indenture dated Feb. 23, 2004, by and among the company, the Bank of New York, as trustee, UbiquiTel, Inc., as guarantor, and the subsidiary guarantor parties thereto (the “Indenture”).

The company offered to repurchase the Notes at a purchase price in cash equal to 101 percent of the principal amount of each Note validly tendered for payment, plus accrued and unpaid interest to the date of purchase, upon the terms and subject to the conditions of the Offer. The Offer expired at 5:00 p.m., New York time, on Aug. 3, 2006. An aggregate principal amount of $40,000 of Notes were tendered and accepted for repurchase.

The Offer was required pursuant to Section 4.15 of the Indenture. The company is a wholly owned subsidiary of UbiquiTel. On July 1, 2006, a wholly owned subsidiary of Sprint Nextel Corp. merged with and into UbiquiTel with UbiquiTel continuing as the surviving corporation (the “Merger”). In connection with the Merger, each outstanding share of UbiquiTel’s common stock was cancelled and converted automatically into the right to receive cash and UbiquiTel became a wholly owned subsidiary of Sprint Nextel Corp. As a result of the Merger, a “change of control” occurred under the Indenture.

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.

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