Subject: [NEXTEL-1] Boston Millennia Partners Portfolio Company NeoWorld Communications Purchased by Nextel Communications

From: Marcel <[email-masked]>
Date: Tue, 28 Jan 2003 15:10:27 -0500

Boston Millennia Partners Portfolio Company NeoWorld Communications Purchased by Nextel
Communications

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 28, 2003--Boston Millennia Partners, a private equity
firm, is pleased to announce the sale of its portfolio company, NeoWorld Communications,
Inc., in a
$276 million all-cash transaction to Nextel Communications Inc. (NASDAQ: NXTL), a leading
wireless communications company.

Boston Millennia invested in the Series A round funding of NeoWorld at the inception of
the
company in March 2000. Founded by Brian McAuley, CEO (and former CEO of Nextel), the
company was formed to acquire spectrum in the 900-megahertz range with the goal of
building
specialized mobile radio systems on a nationwide basis.

Robert Sherman of Boston Millennia Partners said, "We are very pleased with NeoWorld's
acquisition by Nextel. This is one of the few profitable transactions to occur recently in
the
telecommunications industry, and we were able to obtain an attractive return for our
investors."
Boston Millennia Partners is a private equity investment partnership managing over $700
million in
capital. From its office in Boston, Millennia invests in high-growth businesses in the
healthcare and life
sciences, telecommunications and information technology industries. Typical investments
range from
$3 to $15 million. The managers at Millennia have funded over 120 companies in the U.S.
private
equity market since 1980. Portfolio companies with whom they have invested include Verio
(NASDAQ: VRIO), Brooks Fiber Properties/MCI Worldcom (NASDAQ: WCOM)),
HotJobs/Yahoo, Inc. (NASDAQ: YHOO) and PAREXEL International (NASDAQ: PRXL),
among others.
For more information please contact Boston Millennia Partners at www.millenniapartners.com
or
call 617.428.5150.

http://www.businesswire.com/cgi-bin/f_headline.cgi?bw.012803/230282195

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