Sprint Nextel to Acquire Alamosa Holdings

Sprint Nextel Corp. (www.sprint.com) and Alamosa Holdings, Inc. (NASDAQ: APCS) today announced an agreement for Sprint Nextel to acquire Alamosa Holdings for approximately $4.3 billion. This transaction value represents 9.8x projected 2006 Adjusted Operating Income Before Depreciation and Amortization.
"This acquisition closes a long partnership with the management and shareholders of Alamosa," said Gary Forsee, president and CEO, Sprint Nextel. "As the largest PCS affiliate, we appreciate their efforts over the years to grow Sprint's business and we look forward to continuing a strong relationship with their customers."
Alamosa Holdings, based in Lubbock, Texas, provides Sprint PCS services in 19 states, serving approximately 1.48 million direct wireless subscribers in 242 customer service areas (CSA's).

Based on number of subscribers, it is the largest Sprint PCS wireless Affiliate and has reported superior operating metrics.