Subject: [NEXTEL-1] Nextel President to Provide Update at Investor Conference

From: Marcel <[email-masked]>
Date: Thu, 09 Jan 2003 01:12:29 -0500

http://biz.yahoo.com/bw/030108/82443_1.html

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Press Release

Source:
Nextel Communications Inc.

Nextel President to Provide Update at Investor Conference
Wednesday January 8, 2:58 pm ET

2002: A 'Breakthrough'

2003: Company Expects to be Positive Free Cash Flow

LA QUINTA, Calif.--(BUSINESS WIRE)--Jan. 8, 2003--In a keynote
speech at the Salomon Smith Barney Telecommunications and Media
conference in La Quinta, Calif., Nextel Communications Inc.
(NASDAQ:NXTL - News) President and CEO Tim Donahue will tell investors today
that 2002 was a breakthrough year for the wireless company and he
looks forward to another stellar year in 2003 as well.

To view the live Web cast of Donahue's speech, which begins at
3:30 p.m. (EST), 12:30 p.m. (PST), visit
http://www.veracast.com/ssb/2003/gemt/87204328.cfm.

"By all measures, 2002 was an extremely successful year for
Nextel," according to Donahue. "Not only did we accomplish our goal to
gain more than 1.9 million net new subscribers, but we expect to
generate at least $3.1 billion in operating cash flow and also reduce
capital expenditures by more than 20 percent over 2001, to under $1.9
billion. In addition, during 2002 we significantly improved our
balance sheet by reducing debt, and achieved positive net income,
which are record achievements for Nextel."

The details of the 2002 year-end financial results will be
announced during Nextel's 4th Quarter earnings call that will be held
toward the end of February. Sales in December were the strongest in
Nextel's history, driven in part by robust sales across all channels,
particularly lower-cost distribution channels.

"Even in this challenging climate, we continue to see great
opportunity for growth in the FORTUNE 1000, small and mid-sized
businesses, government, other vertical industries and the high-end
individual decision-maker," said Donahue. "All our indications are
pointing to achieving positive free cash flow in 2003. We'll do this
by maintaining our focus of attracting and keeping the most valuable
customers in the wireless industry while at the same time streamlining
our cost structure. We'll also continue to lead the industry with
rational pricing of wireless service, price plan packages and
equipment subsidies. Because we deliver what no other company can with
our nationwide packet data network and Nextel Direct Connect®, the
digital long-range walkie-talkie feature, we're able to price our
service to deliver greater value, while giving our customers an
obvious return on their investment through greater productivity."

About Nextel

Nextel Communications, a Fortune 300 company based in Reston, Va.,
is a leading provider of fully integrated wireless communications
services and has built the largest guaranteed all-digital wireless
network in the country covering thousands of communities across the
United States. Nextel and Nextel Partners, Inc., currently serve 197
of the top 200 U.S. markets.

Through recent market launches, Nextel and Nextel Partners service
is available today in areas of the U.S. where approximately 240
million people live or work.

"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995. A number of the matters and subject areas
discussed in this press release that are not historical or current
facts deal with potential future circumstances and developments. The
discussion of such matters and subject areas is qualified by the
inherent risks and uncertainties surrounding future expectations
generally, and also may materially differ from Nextel's actual future
experience involving any one or more of such matters and subject
areas. Nextel has attempted to identify, in context, certain of the
factors that they currently believe may cause actual future experience
and results to differ from Nextel current expectations regarding the
relevant matter or subject area. Such risks and uncertainties include
the economic conditions in our targeted markets, performance of our
technologies, timely development and delivery of new technologies,
competitive conditions, market acceptance of our services, access to
sufficient capital to meet operating and financing needs and those
that are described from time to time in Nextel reports filed with the
SEC, including Nextel's annual report on Form 10-K for the year ended
December 31, 2001, and in its subsequent quarterly reports on Form
10-Q. This press release speaks only as of its date, and Nextel
disclaims any duty to update the information herein.

Contact:

Nextel Communications Inc., Reston
Nextel Media:
Audrey Schaefer, 240/876-1588
or
Nextel Investors:
Paul Blalock, 703/433-4300

Source:
Nextel Communications Inc.
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