SAN DIEGO--(BUSINESS WIRE)--Nov. 1, 2007--Leap Wireless
International, Inc. (NASDAQ:LEAP) issued the following statement in
response to a MetroPCS announcement that it has withdrawn its proposal
to merge with Leap.
"MetroPCS has announced the withdrawal of its September 4
proposal, which became moot in any case on September 16 when our Board
rejected it as inadequate. Leap has long stated that there could be
merit in a strategic combination and disagrees with MetroPCS's
characterization today of the recent discussions between the
companies. Our position regarding MetroPCS has not changed and we
remain open to substantive discussions concerning a strategic
combination that is in the best interests of all of Leap's
shareholders."
About Leap
Leap provides innovative, high-value wireless services to a
fast-growing, young and ethnically diverse customer base. With the
value of unlimited wireless services as the foundation of its
business, Leap pioneered both the Cricket(R) and Jump(TM) Mobile
services. The Company and its joint ventures now operate in 23 states
and hold licenses in 35 of the top 50 U.S. markets. Through its
affordable, flat-rate service plans, Cricket offers customers a choice
of unlimited voice, text, data and mobile Web services. Jump Mobile is
a unique prepaid wireless service designed for the mobile-dependent,
urban youth market. Headquartered in San Diego, Calif., Leap is traded
on the NASDAQ Global Select market under the ticker symbol "LEAP." For
more information, please visit www.leapwireless.com.
CONTACT: Leap Wireless International, Inc.
Greg Lund, Media Relations, 858-882-9105
glund@leapwireless.com
or
Jim Seines, Investor Relations, 858-882-6084
jseines@leapwireless.com
SOURCE: Leap Wireless International, Inc.