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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Sawtooth who wrote (1461)	2/21/2002 2:04:21 PM
From: Jon Koplik	Read Replies (2) \| Respond to of 2737

Leap Investor Relations Dept. speaks : messages.yahoo.com Courtesy of LWIN IR by: bidupbid (34/M/Perry Ohio) Long-Term Sentiment: Strong Buy 02/21/02 01:29 pm Msg: 16433 of 16450 I hope this kills some of the rumors: Thanks to LWIN IR...here it goes: As of the end of the fourth quarter, Leap had approximately $411M in million in cash and unrestricted marketable securities, including our $85 million cash deposit for Auction #35. In addition, total borrowings at the end of the fourth quarter against our vendor facilities with Lucent, Nortel and Ericsson was $1.112B against a total available commitment of $1.845B. As discussed in our conference call for the fourth quarter, assuming the cash Leap previously earmarked for Auction #35 is available for our 40 Market Plan and that we can successfully negotiate revisions to our loan covenants with its vendors from time to time, Leap believes that, with its anticipated operating cash flow and cash on hand, it is fully funded for its 40 Market Plan and will be able to meet scheduled debt service on all of its debt obligations. In 2004, we may again have to look at adjusting financial covenants or refinancing our vendor facilities. Wireless stocks have continued to trade down as a group based in part on concerns over the potential of slowing customer growth and leverage ratios. As we have discussed before, we believe that Leap is a truly different kind of wireless carrier. We have done well in our large markets and in our small markets. We have done very well regardless of the number of, or the approaches taken by, the traditional PCS and Cellular carriers to compete for our market share. The success we have demonstrated buttresses our belief that we are a provider of a very different and attractive kind of wireless service to a new segment of wireless customers and we believe that the customer growth we posted in the fourth quarter, during which we added over net new 394,000 customers is real, tangible evidence of this difference. To help put this in perspective, we added more new customers in the fourth quarter than Cingular and more new customers than all 12 public and private Sprint PCS affiliates combined. We have built an organization, a product offering, and a cost structure to address and dominate a growth segment of the industry. Our service provides the ubiquity, comfort and predictability of landline at a price that is competitive with landline but with the added capability of full mobility in the local calling areas where people live, work and play. We believe our segment is larger by far than any other segment currently defined. Concurrent with our expected customer growth this year, we will continue to focus on reducing costs across our business through concentrated efforts aimed at streamlining processes, improving operational efficiency and customer retention, and increasing per user revenues.