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To: limtex who wrote (116661)	4/15/2002 7:45:15 PM
From: Cooters	Read Replies (4) \| Respond to of 152472

Lim, Here's the press release for PCS. The following is a brief review of the CC. I won't duplicate things in the linked release, so check that for the basics: Message 17333813 - Gross adds were 2M for Q1(net adds were 725K). There were also 228K affiliate net adds, so the system had about 950K net adds. - Wireless Web subs DOUBLED from 1Q01, to 2.5M. Data ARPU remains about $1/month. They are really playing down the increase in data ARPU for 02 and 03, only saying it will be higher. - Clear Pay retention rates were a major factor in the better than expected churn of 3%. They feel they have worked through the peak in churn from the high number of ClearPay subs added in Q2 and Q3 of 2001. - Though we do not have the numbers from the rest of the industry, they feel this is the 15th straight quarter of leading the industry in net adds. - Avg MOU is now about 570 minutes/month. Average roaming(outside PCS system) is less than 2 minutes/month. - Handset inventory down to 40xM from 44xM(the sound was breaking when they said the numbers). This is despite an expansion of the customer base. Reception was very poor when they said this, so I would like some confirmation. - They broke out 500M of the 3.4B capex for 2002 as App development and administrative capital. Now I don't know how much of the latter is in there, but that is a lot of effort on the app side, though I do not know what they are categorizing as application development. - 20% of Q1 adds were 1x. Base is now over 1M. - There will be more 1x device announcements, beyond the 2 Samsungs, ahead of the summer launch. While they did not really elaborate on the network, I took their comments to say they are pretty much done with the channel cards. - Only comment on Virgin launch is it will be this year. No comment on whether this was a sacrifice to Ruffian or a new wireless product. - They view industry consolidation as net positive for PCS, though some possible combinations would represent some problems. I think they were telegraphing bigger players are not a problem for them, just one less competitor. - They will have an "array" of 3G devices for the launch, including color screens and GPS capability(amongst other things). They feel their subsidy for these devices may be slightly higher, but anticipate the retail market will bear higher prices for the phones too. Cooters