NII Holdings Announces Grant of Nationwide Wireless License to Nextel Mexico

RESTON, Va., Oct. 4 /PRNewswire/ -- NII Holdings, Inc. (Nasdaq: NIHD) today announced that the Ministry of Communications and Transport has granted and delivered a concession title for the use of 30 MHz in the AWS spectrum [1710-1770/2110-2170 MHz] to the consortium formed by Comunicaciones Nextel de Mexico, S.A. de C.V., NII Holdings' operating subsidiary in Mexico ("Nextel Mexico"), and Televisa, S.A. de C.V., a subsidiary of Grupo Televisa S.A.B.  

The grant and delivery of this concession title is one of the closing conditions contemplated by the Investment and Securities Subscription Agreement dated as of February 15, 2010 between Grupo Televisa and Nextel Mexico pursuant to which Grupo Televisa would acquire an equity stake in Nextel Mexico. The parties are in discussions regarding whether the other closing conditions have been or can be met and have agreed to delay the closing date for up to five business days to allow time for those discussions.

Nextel Mexico plans to utilize this spectrum to support a new third generation (3G) network to be deployed across Mexico expanding its coverage and service offerings and providing customers in Mexico more choice in their wireless services. This 3G network, which is expected to be launched in certain markets in the next 12 to 18 months, will be designed to provide customers in Mexico next-generation wireless services at broadband speeds.

About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Va., is a leading provider of mobile communications for business customers in Latin America. NII Holdings, Inc. has operations in Mexico, Brazil, Argentina, Peru and Chile offering a fully integrated wireless communications tool with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect® and International Direct Connect(SM), a digital two-way radio feature. NII Holdings, Inc., a Fortune 500 company, trades on the NASDAQ market under the symbol NIHD and is a member of the NASDAQ 100 Index. Visit the Company's website at http://www.nii.com

Nextel, the Nextel logo, and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc.

SAFE HARBOR

This news release includes "forward-looking statements" regarding the proposed business venture, investment, future service offerings, business outlook and future performance, as well as other statements that are not historical or current facts and deal with potential future circumstances and developments.  Forward-looking statements are qualified by the inherent risk and uncertainties surrounding future expectations generally and may materially differ from actual future experience. Risks and uncertainties that could affect the forward-looking statements in this release include: the failure to successfully close the transactions contemplated by the investment agreement, including due to a failure to meet closing conditions; inability to reach agreements on other commercial arrangements; inability to realize operational efficiencies; unexpected costs or liabilities;  the impact of more intense competitive conditions and changes in economic conditions in the Mexican telecommunications market; the impact on our financial results, and potential reductions in the recorded value of our assets, that may result from fluctuations in foreign currency exchange rates and, in particular, fluctuations in the relative values of the currencies of the countries in which we operate compared to the U.S. dollar; the risk that our network technologies will not perform properly or support the services our customers want or need, including the risk that technology developments to support our services will not be timely delivered; the risk that customers in the markets we serve will not find our services attractive;  and the additional risks and uncertainties that are described in NII Holdings' Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as well as in other reports filed from time to time by NII Holdings with the Securities and Exchange Commission.  This press release speaks only as of its date, and NII Holdings disclaims any duty to update the information herein, except as required by law.

SOURCE NII Holdings, Inc.