Combination of Bond Offerings and Latest Equity Investments Provides Clearwire with over $2.8 Billion of Incremental Capital and Retires Prior $1.4 Billion Loan Facility

Press Release

Source: Clearwire Corporation

On 8:22 pm EST, Tuesday November 24, 2009

KIRKLAND, Wash.–Clearwire Corporation (NASDAQ: CLWR - News) today announced that Clearwire Escrow Corporation, an unrestricted subsidiary of Clearwire Communications LLC, has priced a supplemental offering of an additional $920,000,000 aggregate principal amount of 12% senior secured notes due 2015 at an issue price of 97.9% (the “Notes”). This offering is in addition to the completion of today’s offering of $1,852,494,000 aggregate principal amount of 12% senior secured notes due 2015. more

Nortel Selects Ericsson and Kapsch as Successful Bidders for GSM/GSM-R Business

Ericsson and Kapsch emerge as successful joint bidders for US$103 million in cash

Sale to include substantially all of the assets of th global GSM/GSM-R business with approximately 680 Nortel employees

U.S. and Canadian court approvals of sale will be sought at a joint hearing on December 2, 2009

TORONTO

November 25, 2009 — Nortel* Networks Corporation [OTC: NRTLQ] announced that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc., Nortel Networks UK Limited (in administration), and Nortel Networks SA (NNSA) have concluded a successful auction of substantially all of the global assets of Nortel’s GSM/GSM-R business. Telefonaktiebolaget LM Ericsson (”Ericsson”) and Kapsch CarrierCom AG (”Kapsch”) are the winning joint bidders with a purchase price of US$103 million in cash. more