About Leap

Leap is a wireless communications provider that offers innovative, high-value wireless services under the “Cricket” brand. Leap's Cricket service offerings provide its fast-growing, young, and ethnically diverse customer base with unlimited access to wireless voice and data services for a flat rate without requiring a fixed-term contract.

Leap maintains an industry leading cost structure enabling it to provide wireless services to its customers at a significantly lower cost than many of its competitors. Leap keeps costs low by engineering high-quality, efficient networks covering only the urban and suburban areas where its potential customers live, work and play enabling it to sell its wireless minutes for less than it costs other carriers to produce theirs.

The Company and its joint ventures now operate in 34 states and the District of Columbia and hold licenses in 35 of the top 50 U.S. markets. Cricket services stretch across the country, from New York to California. Headquartered in San Diego, Calif., Leap is traded on the NASDAQ Global Select Market under the ticker symbol “LEAP.“

Company History

Leap Wireless International, Inc. began as a spin-off of QUALCOMM. The company was incorporated in June 1998, and in September of the same year began trading on NASDAQ. Leap launched its innovative Cricket wireless service in March of 1999 in Chattanooga, Tennessee. The company grew steadily for several years, launching service in primarily smaller, rural markets. In 2003, Leap filed voluntary petitions for relief under Chapter 11 in federal bankruptcy court. The Company was restructured and emerged from bankruptcy in August of 2004.

Since emergence the Company has continued to leverage its low-cost structure to facilitate strategic growth. In 2006 the Company successfully launched 14 new markets with the potential to serve almost 20 million new customers and purchased additional spectrum for the next phase of its development. 2007 was year of solid growth for the organization in which the company hit several exciting milestones including the addition of its two millionth customer and the completion of its data network upgrade to CDMA 1XEVDO technology across all of its Cricket markets.

In 2008 the Company celebrated its tenth anniversary and began its third major wave of footprint expansion by launching the first of 10 new markets with the potential to serve up to 35 million new customers. The Company also introduced Premium Extended Coverage (PEC) which gives Cricket customers access to unlimited voice usage in a broad coverage area of approximately 200 million covered POPs. In addition to its market expansion initiatives, the Company launched two new products: Cricket Broadband, its unlimited high-speed mobile internet service, and Cricket PAYGo, its unlimited pay-as-you-go daily and all-inclusive monthly wireless service.

Today, the Company operates in 34 states and the District of Columbia serving more than 4.5 million wireless customers nationwide. The Company is the 7th largest wireless carrier in the United States and a Fortune 1000 company. Leap remains focused on its core competency, offering a great customer experience with robust networks, superior handsets and value rich products. By delivering unlimited value to the customers it serves, Leap believes it is well positioned to grow and continue driving demand for unlimited wireless service.

Technology and Cost Leadership

Cost leadership is the key to Leap‘s success.

Leap‘s networks are the heart of its cost leadership strategy enabling the Company to deliver high-quality unlimited services at industry leading prices.

The Company owns and operates a 3G digital wireless network that operates on CDMA2000 (Code Division Multiple Access)1X EvDO Rev 0/A technology covering approximately 91 million potential customers. In addition to the Company‘s own network footprint, Leap is able to offer its customers access to unlimited services in an area that covers approximately an additional 100 million potential customers through strategic roaming partnerships with various wireless companies. By utilizing this “virtual footprint” the Company is able to demonstrate disciplined and effective use of capital to deploy high-quality, low cost services to Cricket customers nationwide.

Leap engineered its network from the ground up to support its unique brand promise and deliver high capacity and outstanding quality at a low-cost. Leap‘s corporate culture strives to ensure that each employee inherits an understanding of and passion for cost leadership. The engineering team at Leap is driven to optimize capacity and balance spectrum availability and has successfully deployed unlimited voice and broadband data services using as little as 10MHz of spectrum in most of the Company‘s markets. Leap‘s engineering staff focuses on thoughtful and creative application of new technology designed to operate high capacity, high utilization networks in order to drive our industry leading cost structure.