Sprint Announces Debt Retirements

OVERLAND PARK, Kan. (BUSINESS WIRE), November 29, 2011 – Sprint Nextel (NYSE:S, news, filings) announced today the early retirement of first quarter 2012 debt maturities with an aggregate principal balance of $2.25 billion. The securities comprising the $2.25 billion of debt retirements are $250 million of Sprint’s $750 million Export Development Canada Facility and $2 billion of Sprint Capital Corporation 8.375% Notes due 2012. The Export Development Canada Facility was prepaid at par on Nov. 23, 2011. The Sprint Capital Corporation 8.375% Notes due 2012 have been elected to be redeemed in full on Dec. 29, 2011, under optional redemption provision. These securities represent all of our scheduled note and loan maturities for 2012.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 53 million customers at the end of 3Q 2011 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Newsweek ranked Sprint No. 3 in its 2011 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.