Sprint

Incorporated in 1938, Sprint is a global communications company serving 26 million business and residential customers in more than 70 countries. With approximately 72,000 employees worldwide and nearly $27 billion in annual revenues, the Overland Park, KS-based company is represented on the New York Stock Exchange by the FON group and the PCS group.

On the wireline side, the Sprint FON Group (NYSE: FON) is comprised of Sprint's Global Markets Group and the Local Telecommunications Division, as well as product distribution businesses. On the wireless side, the Sprint PCS Group (NYSE: PCS) consists of Sprint's wireless PCS operations.

Global Markets Group
Sprint is widely recognized for developing, engineering and deploying state-of-the-art technologies in the telecommunications industry, including the nation's first nationwide all-digital, fiber-optic network. The Global Markets Group provides a broad suite of communications services to business and residential customers. These services include domestic long-distance and international voice service; data service like Internet, frame relay access and transport, Web hosting and managed security; and broadband.

GMG is made up of the four major market units:
Mass Markets Organization
Sprint Business
Sprint eSolutions
Sprint International

Mass Markets Organization
Sprint is widely recognized for building the nation's first all-digital, fiber-optic network, delivering unparalleled clarity and reliability in long-distance communication services. The Sprint Mass Markets Organization serves consumers and small businesses nationwide with a portfolio of voice and data services tailored to their individual needs.

With innovative calling plans, expanding prepaid products, and anchor-tenant partnerships with other large companies that have brand-loyal consumer bases, Sprint Mass Markets is well-positioned for the challenges of today's consumer marketplace. Mass Markets also offers small business customers a full suite of communication solutions, including voice long distance services, DSL high-speed data service and web hosting/e-commerce applications with DellHost.

Sprint Business
Sprint Business provides end-to-end communication solutions for our clients, including large business, government and other institutional customers. Committed to the belief that the entire industry is driving toward network convergence, Sprint Business manages transport - frame relay, ATM, dedicated IP, etc. - and partners with other Sprint units to create compelling offers for all our customers, combining transport with network- and applications-based solutions.

Sprint International
With regional headquarters in Reston, Virginia, London and Hong Kong, Sprint International extends the reach of its award-winning Internet backbone to the global marketplace.

Providing a broad portfolio of scaleable IP products, including managed services and virtual private networks, Sprint International also offers collocation, international private line, backhaul and international dedicated transit services.

By the end of 2003, the Sprint global network is expected to reach 35 cities in 19 countries, each with local sales, technical and administrative support.

Local Telecommunications Division

The Sprint Local Telecommunications Division (LTD) provides local telephone service to 5 percent of the nation's domestic local exchange market.

Sprint PCS built the nation's only all-digital, nationwide wireless network from the ground up - covering a population of nearly a quarter billion people.

From its launch in 1995, Sprint PCS has grown to become the fourth largest carrier with approximately 16.7 million direct and resale subscribers, including more than 2 million affiliate subscribers. Sprint PCS is also the nation's fastest growing wireless provider, adding more net customers than any other carrier for 15 consecutive quarters.

Since November 1998, Sprint PCS has operated under a separate trading stock - PCS - which reflects the performance of Sprint's wireless operations, while the remaining parts of the business are reflected in the FON stock.