NII Holdings Announces Strategy To Realign Resources To Support Future Growth

RESTON, Va., Nov. 6, 2012 /PRNewswire/ --  NII Holdings, Inc. [NASDAQ: NIHD] a provider of differentiated mobile communications services operating under the Nextel brand in Latin America, today announced that it is taking actions to realign certain resources and roles between its headquarters and market units in order to create a stronger and more agile organization, and to facilitate future growth.

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As part of this strategy, the Company is reassigning select positions located at its headquarters to its operations in Latin America and eliminating certain positions at its corporate headquarters.  In total, the Company will reduce approximately 20 percent of its workforce at its headquarters in Reston, Virginia.  These actions are designed to increase NII's operational agility, to streamline decision-making, and to begin reducing corporate headquarters costs, further strengthening the Company's ability to execute on its strategic priorities in Latin America.

"These actions will provide us with the right structure to capture the growth, scale, and accountability required to succeed in our markets and achieve our long-term growth objectives," said Steve Dussek, NII Holdings' chief executive officer. "By realigning our workforce, we will have a stronger foundation to execute our growth strategy which is focused on premium networks, a superior customer experience, and innovative products and services. The steps we are taking fortify our ability to leverage our high-quality services and technology in order to capture a larger share of the growing market for wireless communications in Latin America." 

The company expects to incur one-time costs in the fourth quarter of approximately $8 million related to the headcount reduction at its corporate headquarters.

About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Va., is a provider of differentiated mobile communication services for businesses and high value consumers in Latin America. NII Holdings, operating under the Nextel brand in Brazil, Mexico, Argentina, Peru and Chile, offers fully integrated wireless communications tools with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect ^® and International Direct Connect(SM), a digital two-way radio. NII Holdings is a Fortune 500 and Barron's 500 company, and has also been named one of the best places to work among multinationals in Latin America by the Great Place to Work ^® Institute. The company trades on the NASDAQ market under the symbol NIHD. Visit the company's website at www.nii.com.

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