Corporate Governance & Ethics

To our Stakeholders:

When Sprint and Nextel decided to merge and create America's premier communications company, both companies brought with them corporate cultures that focused on delivering exceptional customer service, providing strong shareholder benefits and ensuring investor confidence. As we now operate as one company, Sprint Nextel Corporation is committed to building on those strong standards of excellence.

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 Nextel'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 establish a majority voting standard for the election of directors in uncontested elections;
• adopting strict independence standards for outside directors that go beyond the NYSE's listing standards; and
• nominating a strong nonexecutive Chairman of the Board.

At Sprint Nextel, 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 Nextel is doing to deliver upon our commitment.

Sincerely,
Sprint Nextel Corporation

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