Leap Wireless Launches Service in Nashville.Article sent from Germany by E Mail where QUALCOMM is being followed. SAN DIEGO, Jan. 31 /PRNewswire/ -- The unique Cricket wireless service,
which lets customers make virtually unlimited phone calls in their local
service area for one low, flat rate, launches today in Nashville, Tenn.
Wireless communications carrier Leap Wireless International, Inc.
(Nasdaq: LWIN) developed the Cricket concept, which targets the mass consumer
by making wireless simple and affordable. In Nashville, Cricket service is
being introduced by Chase Telecommunications, Inc. (ChaseTel), a company that
Leap has agreed to acquire. ChaseTel, which is doing business as Cricket
Communications in Tennessee, is offering the service under an agreement that
provides that ChaseTel controls the business until Leap's proposed acquisition
of ChaseTel is complete.
"Cricket service is as simple and affordable as a residential landline
phone, with the added benefit of mobility," said Susan G. Swenson, president
and chief operating officer of Leap and president and CEO of its U.S.
subsidiary, Cricket Communications, Inc. "With a Cricket phone, people can
make and receive all their local calls without worrying about an expensive
bill at the end of the month."
Priced competitively with traditional home phone service, Cricket costs
$29.95 a month, payable in advance. Cricket customers can make and receive
virtually all their local calls and receive calls for the same low rate.
Voicemail, caller ID and call waiting are also available for $3.95 per month
for any one of these features, and $2 per month for each additional feature.
Cricket's all-digital handsets, manufactured by Nokia and QUALCOMM, retail for
as low as $99.95. Cricket customers don't have to sign a contract or pass a
credit check, and they can make long distance and directory assistance calls
at an additional charge through a separate prepaid account.
With 1.6 million potential customers (1998 POPs), Nashville is one of the
largest cities in the Southeast. In its first market, Chattanooga, Tenn.,
Cricket service had attracted more than 22,000 customers as of Dec. 31, 1999,
achieving approximately seven percent penetration of covered POPs in less than
10 months of operation.
Leap's pending acquisition of ChaseTel is part of its strategy to bring
the Cricket concept to select markets across the country. In total, Leap has
licenses or the rights to acquire licenses covering approximately 29 million
potential customers in markets across the United States for use by Cricket
Communications, Inc.
About Cricket Communications, Inc.
Cricket Communications, Inc., a subsidiary of Leap Wireless International,
plans to change the way people communicate by bringing wireless communications
to the U.S. mass consumer market. Cricket's service concept, called
Comfortable Wireless and the around-town phone, has been operating since early
1999 using ChaseTel's licenses under an agreement that provides that ChaseTel
controls the business until Leap's proposed acquisition of ChaseTel is
complete. Cricket's service lets customers make and receive virtually
unlimited calls within their local service area for one low, flat rate.
Cricket's service also allows customers to make long distance calls by paying
for these calls in advance. While roaming is not available, the local service
area provides coverage where people live, work, and play.
About Leap Wireless International, Inc.
Leap Wireless International, Inc., headquartered in San Diego, Calif., is
a wireless communications carrier that deploys, owns and operates wireless
networks in domestic and international markets with strong growth potential.
In conjunction with its strategic partners, Leap has launched all-digital
wireless service in the United States, Mexico and Chile through its operating
companies. Leap is dedicated to bringing the benefits of reliable,
cost-effective and high-quality voice and data services to domestic and
emerging markets. For more information, please visit www.leapwireless.com.
This news release contains certain "forward-looking statements," including
statements regarding the appeal of Cricket service. Forward-looking
statements, which are based upon certain assumptions and describe future
plans, strategies and expectations of the Company, are generally identifiable
by use of the words "believe," "expect," "intend," "anticipate," "estimate,"
"project" or similar expressions. The ability of the Company to predict
actual results and other future events is inherently uncertain. Important
factors which may cause actual results to differ materially from the
forward-looking statements contained herein or in other public statements by
the Company are described in the section entitled "Risk Factors" in the
Company's Annual Report on Form 10-K for the fiscal year ended August 31, 1999
and other documents on file with the Securities and Exchange Commission.
Those risk factors include uncertainties relating to costs, profitability and
the ability to raise sufficient capital for continued expansion and operation.
Cricket, Comfortable Wireless and around-town phone are service marks of
Cricket Communications, Inc.
SOURCE Leap Wireless International, Inc.
-0- 01/31/2000
/CONTACT: Jessica Cardoza, Media Relations of Bock Communications, Inc.,
714-540-1030, fax 714-540-1060, jcardoza@bockpr.com, for Leap Wireless
International; or Sarah Thailing, Media Relations, 858-882-6018,
sthailing@leapwireless.com, or Jim Seines, Investor Relations, 858-882-6084,
jseines@leapwireless.com, both of Leap Wireless International,
fax 858-882-6030/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 132891/
/Web site: leapwireless.com
(LWIN) |
