Corporate Governance & Ethics

To our Shareholders:

At Sprint, one of our core corporate values is to demonstrate integrity in all we do — not only through our words, but also in our actions. At a time when investor confidence has been shaken by the unscrupulous actions of a few, we have set an even higher standard of corporate governance and ethical responsibility.

Sprint's commitment to being a recognized leader in corporate governance and ethics is the natural outgrowth of actions taken in recent years to enhance corporate governance effectiveness. Some examples of these actions include:

• seating a declassified Board of experienced and diverse directors;
• amending our bylaws to implement a right to call a special meeting of shareholders for the holders of at least ten percent of our outstanding common stock;
• implementing a majority vote standard for uncontested elections of directors;
• adopting strict independence standards for our board that go beyond the NYSE's listing standards; and
• nominating a strong nonexecutive Chairman of the Board.

At Sprint, we believe there are no shortcuts when it comes to corporate responsibility. Through our organizational structure, philosophy and culture, we are committed to creating an environment that enforces the highest standard of corporate governance and ethics. We encourage you to visit this Corporate Governance site often to read about all of the things Sprint is doing to deliver upon our commitment.

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