QUALCOMM Spin Off Leap Wireless and Pegaso launch new service in Monterrey Mexico.
PEGASO Meets Aggressive Timeline to Roll Out Service in Mexico's Major Markets
SAN DIEGO and MONTERREY, Mexico, Sept. 8 /PRNewswire/ -- Wireless communications carrier Leap Wireless International, Inc. (Nasdaq: LWIN - news) and its Mexican joint venture, PEGASO PCS, today announced that PEGASO will launch its all-digital wireless service in Monterrey, Mexico. Monterrey is the third major market in which PEGASO has introduced its high-quality wireless service this year, following launches in Tijuana in February and Guadalajara in August. PEGASO is expected to launch service in Mexico City by the end of the year.
``The Monterrey launch demonstrates PEGASO's ability to meet an aggressive timeline to roll out service in Mexico's four largest markets by the end of this year,' said Harvey P. White, chairman and CEO of Leap and CEO of PEGASO. ``Monterrey is a key market for PEGASO because of its prominence as the country's second largest industrial center. Following the launch in Mexico City, we expect to further expand PEGASO's network to other regions next year.'
``PEGASO's commitment to customer service, innovative marketing and unbeatable voice quality will give Monterrey consumers a clear new choice in wireless communications,' said Alejandro Diez Barroso, president of PEGASO. ``With our per-second billing we are offering customers the fairest pricing combined with the virtual elimination of fraud to give our users the best value in the market.'
Committed to setting new standards of quality and excellence for wireless services in Mexico, PEGASO reaches out to the mass market by selling phones through self-service stores and supermarkets, in addition to its own stores. PEGASO offers customers an array of advanced features, including caller ID and voice mail, in addition to per-second billing. Leap is the largest shareholder in PEGASO PCS.
About PEGASO PCS
With a planned initial investment of approximately $1.3 billion, PEGASO PCS is deploying the first 100% digital network in Mexico. PEGASO plans to offer nationwide PCS service, launching in the country's four largest cities in 1999. PEGASO has introduced service in Monterrey, Guadalajara and Tijuana and plans to launch in Mexico City later this year. PEGASO plans one of the largest networks in the Americas.
About Leap Wireless International, Inc.
Leap Wireless International, Inc., headquartered in San Diego, California, 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 is building or anticipates building a combination of fixed and mobile wireless solutions in Mexico, Chile, Russia and the United States. The world is going wireless, and Leap believes that CDMA is the technology of choice to increase the teledensity that is critical to economic growth. For each of its ventures, Leap is actively involved in management of the systems, combining its experience in international markets with its wireless technical expertise in CDMA. 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 the company's web site at www.leapwireless.com.
This news release contains certain ``forward-looking statements,' including statements regarding the cost and future scope of PEGASO's wireless network. 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,' ``plan,' ``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 1998 10-K, most recent 10-Q and other documents on file with the Securities and Exchange Commission. Those factors most likely to cause actual results to differ include but are not limited to: the currency exchange and economic risks associated with Mexico, uncertainties regarding Leap or PEGASO's ability to access the capital markets, the delayed build out of the PEGASO network, failure of the PEGASO network to perform according to expectations, and competitive pressure that could affect market demand for PEGASO's services.
SOURCE: Leap Wireless International, Inc.
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