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Crest Financial Urges Clearwire Stockholders To Vote Against Sprint-Clearwire Merger

Stocks in this article: CLWR

"SoftBank's CEO Son recently said that Clearwire stockholders like Crest that have urged Clearwire to seek a better deal "can stay as shareholders for however long they want. We are happy with just 65 percent [of Clearwire stock]." For all of the reasons stated above, we do not believe this statement.  We firmly believe that, if Sprint does not control 100% of Clearwire, the value that Sprint's suitors have attached to Sprint dissipates, while, at the same time, Clearwire's minority stockholders will still have the opportunity to realize that value for themselves.

"In short, Clearwire is the ultimate prize in the intensifying battle for Sprint.  It is time to lift the veil off of these back-to-back merger transactions so Clearwire stockholders can see them for what they are—an attempt to take value from the Clearwire stockholders without offering them fair value.  We do not believe that this or any other offer from Sprint can reflect the true value of Clearwire.  Only when SoftBank, DISH, or another suitor for the Clearwire spectrum makes a direct offer for the Clearwire stock or Clearwire's assets will this true value be discovered."  

D.F. King & Co, Inc. has been retained by Crest to assist it in the solicitation of proxies in opposition to the merger. If stockholder have any questions or need assistance in voting the GOLD proxy card, please call D.F. King & Co. at (800) 949-2583. The full letter can be found at http://www.dfking.com/clwr.

About Crest Financial LimitedCrest Financial Limited (" Crest") is a limited partnership under the laws of the State of Texas. Its principal business is investing in securities.

Important Legal InformationIn connection with the proposed merger of Clearwire Corporation (" Clearwire") with Sprint Nextel Corporation (the " Proposed Sprint Merger"), Crest and other persons (the " Participants") have filed a definitive proxy statement with the U.S. Securities and Exchange Commission ("SEC"). The definitive proxy statement was mailed to the stockholders of Clearwire on or about May 6, 2013. SECURITYHOLDERS OF CLEARWIRE ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, WHICH IS AVAILABLE NOW, AND THE PARTICIPANTS' OTHER PROXY MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS, CLEARWIRE AND THE PROPOSED SPRINT MERGER. The definitive proxy statement and all other proxy materials filed with the SEC are available at no charge on the SEC's website at http://www.sec.gov.  In addition, the definitive proxy statement is also available at no charge on the website of the Participants' proxy solicitor at http://www.dfking.com/clwr.

Forward-looking StatementsCertain statements contained herein are forward-looking statements including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," believes," "continue," "strategy," "position" or the negative of those terms or other variations of them or by comparable terminology.

SOURCE Crest Financial Limited

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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