Sprint Nextel Corp. (NYSE:S) announced today it has closed its underwritten public offering of $2.28 billion aggregate principal amount of 6.000% notes due 2022. As previously announced, Sprint intends to use the net proceeds from the offering to redeem all of the outstanding notes of Nextel Communications, Inc. due 2014 and 2015. The joint book-running managers for the offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC. These securities were offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission, and a preliminary prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission. You may obtain a preliminary prospectus supplement and prospectus by visiting EDGAR on the SEC website at http://www.sec.gov or by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated at Attn.: Prospectus Department, 222 Broadway, 11th Floor, New York, NY 10038, by calling toll free 1-800-294-1322 or by emailing email@example.com; Barclays Capital Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll free 1-888-603-5847 or by emailing firstname.lastname@example.org; Citigroup Global Markets Inc. at Attn.: Citigroup Prospectus Delivery Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220, or by calling toll free 1-800-831-9146 or by emailing email@example.com; Deutsche Bank Securities Inc. at Attn.: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, or by calling toll free 1-800-503-4611 or by emailing prospectus.CPDG@db.com; Goldman, Sachs & Co. at Attn.: Prospectus Department, 200 West Street, New York, NY 10282; or by calling 1-866-471-2526; or J.P. Morgan Securities LLC at Attn.: HY Syndicate, 383 Madison Avenue, 3rd floor, New York, NY 10179, or by calling collect 1-212-834-4533. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.