NextWave Selling Big Spectrum Footprint

NextWave Wireless Inc. announced that it is offering for sale its extensive spectrum holdings in the United
States. NextWave's U.S. spectrum
footprint covers over 251 million people, or pops, in the United States
and includes major markets such as New York, Los Angeles, Chicago, San
Francisco, Boston, Philadelphia, Denver, Houston, and Detroit.

The
company's holdings include licenses and lease
rights for a total of 4.7 billion MHz/pops of spectrum comprised of 154
Advanced Wireless Service ("AWS")
licenses in the 1.7/2.1 GHz band, 30 Wireless Communication Service ("WCS")
licenses in the 2.3 GHz band, and 39 Educational Broadband Service ("EBS")
and Broadband Radio Service ("BRS")
licenses and spectrum leases in the 2.5 GHz band.

Summary details of NextWave's
U.S. spectrum licensed portfolio are contained in the table below.

"Since the completion of the recent 700 MHz
auction, we have received multiple offers for our U.S. spectrum assets.
Given our continued success in developing highly differentiated wireless
broadband and multimedia-enabled products, we no longer view our
spectrum holdings as critical to reaching our product sales objectives,
and believe that now is the perfect time for us to sell these valuable
assets while network operators are trying to finalize their band plans
and spectrum holdings for their continuing 3G and planned 4G rollouts,"
said Allen Salmasi, chief executive officer and president of NextWave
Wireless. "Monetizing the value of our
substantial spectrum assets would allow us to further strengthen our
balance sheet, retire debt, and continue the commercial introduction of
a wide range of innovative wireless broadband and multimedia solutions
such as our high-performance WiMAX and RFIC chipsets, advanced
multi-mode, multi-band TD-CDMA, WiMAX and LTE enabled base station
platforms, breakthrough MXtv and TDtv
mobile television systems, highly advanced mobile multimedia software
solutions and platforms that we are now bringing into commercial
deployments globally with many of the largest mobile operators and
device manufactures in the world."

"NextWave's
spectrum holdings are highly suitable for mobile operators who need to
enhance the coverage, capacity, and performance of their existing 3G and
future 4G wireless networks," said Edward
Dunn, a Managing Director with the Media & Telecom Group at Deutsche
Bank. "We view NextWave's
AWS spectrum as highly complementary to other AWS spectrum holders,
especially mobile operators who are now in the process of deploying
networks in this band. In addition, since many WiMAX and LTE networks
are planned to be deployed in the 2.3 GHz and 2.5 GHz -
2.7 GHz bands globally, we believe that the company's
New York EBS/BRS spectrum represents one of the more valuable markets in
the 2.5 GHz band while their extensive WCS footprint should attract
interest from both national and regional mobile operators."

"We look forward to working with NextWave
to maximize the value of their U.S. spectrum assets. The recently
concluded 700 MHz band auction once again demonstrated that licensed
spectrum remains a highly valuable asset in the United States,"
said Davis Terry, Co-Chairman of Global Telecom at UBS Securities. "We
believe that NextWave's North
American spectrum holdings represent an asset that will be highly
complementary with the current or planned spectrum holdings of a number
of mobile operators and new entrants who are planning to extend their 3G
coverage or acquire spectrum for their 4G roll-outs."

Various 3G and 4G networks have already been deployed in the AWS, WCS
and EBS/BRS bands globally. These initial 4G networks have generally
been implemented in a single frequency band. To provide for sufficient
spectrum depth to handle bandwidth-intensive 4G applications the company
believes that operators may need to combine multiple frequency bands.
For this reason, NextWave has developed and demonstrated
an advanced RFIC that enables the implementation of any combination of
AWS, WCS, and EBS/BRS bands in end-user devices that support device
implementations for TDD and/or FDD operations based on IEEE 802.16e
(WiMAX), 3GPP Release 7 (UMTS) and 3GPP Release 8 (LTE). Another RFIC
from NextWave, with expected availability in 2008, has
been designed to support a combination of bands from 700 MHz to 3.8 GHz.

In the first quarter of 2008, NextWave announced an
exciting lineup of important new products including its
second-generation WiMAX baseband chip and matched RFIC, its breakthrough
MXtv mobile TV system which provides WiMAX operators the ability to
deliver up to 45 high-quality broadcast channels in 10 MHz of spectrum
using their existing WiMAX spectrum and radio access network, and its
LTE roadmap which includes an LTE-enabled version of its advanced V5
base station. NextWave also announced that
T-Mobile and Orange will launch a commercial pilot of its advanced TDtv
mobile television system in London later this year. Also during the
first quarter, NextWave's
PacketVideo subsidiary announced its match-box sized Telly
mobile broadcast receiver that can turn any Wi-Fi enabled device into a
mobile TV.

There is no assurance that the sale of any NextWave
licenses will occur, and any such sales will be subject to final
approval by the Federal Communications Commission.