Clearwire Corporation Provides Transaction Update

Additional Information and Where to Find It

In connection with the transaction, Clearwire will file a proxy statement and other materials with the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CLEARWIRE AND THE TRANSACTION. Investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the SEC at the SEC's web site at www.sec.gov. In addition, the documents filed by Clearwire with the SEC may be obtained free of charge by contacting Clearwire at Clearwire, Attn: Investor Relations, [phone]. Clearwire's filings with the SEC are also available on its website at http://www.clearwire.com .

Participants in the Solicitation

Clearwire and its officers and directors and Sprint and its officers and directors may be deemed to be participants in the solicitation of proxies from Clearwire stockholders with respect to the transaction. Information about Clearwire officers and directors and their ownership of Clearwire common shares is set forth in the proxy statement for Clearwire's 2012 Annual Meeting of Stockholders, which was filed with the SEC on April 30, 2012. Information about Sprint officers and directors is set forth in Sprint's Annual Report on Form 10-K for the year ended December 31, 2011, which was filed with the SEC on February 27, 2012. Investors and security holders may obtain more detailed information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the transaction by reading the preliminary and definitive proxy statements regarding the transaction, which will be filed by Clearwire with the SEC.

CONTACT: Media Contacts:
         Susan Johnston, [phone]
         [e-mail]
         
         JLM Partners for Clearwire
         Mike DiGioia or Jeremy Pemble, [phone]
         [e-mail] or [e-mail]
         
         Joele Frank, Wilkinson Brimmer Katcher for Clearwire
         Joele Frank or Andy Brimmer, [phone]
         
         Investor Contacts:
         Alice Ryder, [phone]
         [e-mail]
         
         MacKenzie Partners for Clearwire
         Dan Burch or Laurie Connell, [phone]
         [e-mail] or [e-mail]

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