SPRINT NEXTEL Reports Second Quarter 2009 Results

- Year-to-date Free Cash Flow* of almost $1.5 billion; cash balance of $4.6 billion after retiring all of 2009 senior note maturities; total liquidity of $6.1 billion
- 18 consecutive months of improvement in Customer Care Satisfaction and First Call Resolution
- Achieved new best-ever network performance metrics

Highest reported number of prepaid net additions by any U.S. carrier in three years
Successful launch of the award-winning Palm� Pre� - showcasing �a new Sprint�
The company�s second quarter earnings conference call will be held at 8 a.m. EDT today. Participants may dial 800-938-1120 in the U.S. or Canada (706-634-7849 internationally) and provide the following ID: 15280281, or may listen via the Internet at www.sprint.com/investor.

OVERLAND PARK, Kan.--Sprint Nextel Corp. (NYSE: S) reported second quarter 2009 financial results that included consolidated net operating revenues of $8.1 billion, a net loss of $384 million and a diluted loss per share of 13 cents. The company generated Free Cash Flow* of $676 million in the quarter and $1.5 billion in the first half of 2009. As of June 30, 2009, the company had $4.6 billion of cash and cash equivalents and $1.5 billion of borrowing capacity available under its revolving bank credit facility, for a total liquidity of $6.1 billion.

�In the second quarter, we made further progress on our efforts to enhance financial stability, improve the customer experience and reinvigorate the brand,� said Dan Hesse, Sprint Nextel CEO. �The widespread visibility surrounding our record-breaking June launch of the Palm� Pre� handset gave us an unprecedented opportunity to showcase these improvements to customers as �a new Sprint.� They saw a 3G network described by PC World magazine as the most reliable among competitors, key satisfaction and performance metrics in customer care improving for 18 straight months, advertising that won the top international award in Cannes, and a stable balance sheet with 2009 long-term debt maturities paid and enough cash on hand to cover maturities through 2011.

�In the quarter, we saw the best retail net add performance in the past seven quarters. We also saw the best quarterly sequential change in CDMA net add performance in two years, ARPU that has been stable for six consecutive quarters, continued prepaid growth, and improved sequential Adjusted Operating Income Before Depreciation and Amortization* (Adjusted OIBDA),� Hesse said. �However, we are not satisfied that we lost a quarter of a million customers in the quarter.�

Sprint also built on its history of innovation in the second quarter, with the launch of MiFi cards and continued growth in its award-winning Unified Communications solution for business mobility. Additionally, the company prepared for the August launch of 4G service in Las Vegas, Atlanta and Portland, with at least six more markets in its national network expected to follow in 2009, and announced the July launch of the Blackberry� Tour� world phone.

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