Clearwire Corporation ("Clearwire") (NASDAQ:CLWR), a leading provider of personal broadband and mobile Internet services, today announced its support for the European Commission decision of May 21, 2008, aimed at harmonizing the availability and efficient use of 3400 ~ 3800 MHz frequencies in Europe and requiring that Member States quickly move to allow mobility in these frequency bands.
"The Decision is meaningful for Clearwire's European operations, where we widely utilize 3.5GHz spectrum," said Benjamin G. Wolff, chief executive officer of Clearwire. "With extensive holdings in Belgium, Germany, Ireland, Poland, Romania, and Spain, and our affiliate's holdings in Denmark, our licenses cover more than 200 million people throughout Europe. This decision, which mandates Member States of the European Community to move quickly to make this spectrum range available to be used for fixed, nomadic and mobile electronic communications networks, gives us and the investment community greater certainty and confidence with respect to the opportunity to deliver mobile "˜true broadband' wireless services across a very unique geographic footprint."
Wolff went on to explain the significance of this decision for Clearwire: "This is an essential milestone in Clearwire's continuing efforts to deploy our mobile WiMAX networks across Europe. We believe that the power of the mobile Internet, which offers speed and mobility, both home and away, will fundamentally transform the way that people make use of the full capabilities of the Internet."
There has been long-standing support by the Commission for the flexible use of wireless spectrum, with technical and service neutrality. In the decision, the Commission specifically acknowledges that the "designation of the 3400 ~ 3800 MHz band for fixed, nomadic and mobile applications is an important element addressing the convergence of the mobile, fixed and broadcasting sectors and reflecting technical innovation.
Wolff continued, "Clearwire fully supports the Commission's view that as mobile wireless broadband services become the primary service used with this spectrum, further harmonization will favor pan-European roaming amongst these frequencies."
About Clearwire
Clearwire, founded in October 2003 by telecom pioneer Craig O. McCaw, is a provider of simple, portable and reliable wireless high-speed Internet service. Clearwire customers connect to the Internet using licensed spectrum, thus eliminating the confines of traditional cable or phone lines. Headquartered in Kirkland, Wash., the company launched its first market in August 2004 and now offers service in 50 markets across the U.S, as well as in Europe. For more information, visit www.clearwire.com.
Forward-Looking Statements
This release, and other written and oral statements made by Clearwire from time to time, contains forward-looking statements which are based on management's current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Forward-looking statements may include, without limitation, management's expectations regarding: future financial and operating performance and financial condition; development, network launch, and strategic plans and objectives; industry conditions; the strength of its balance sheet; and liquidity and financing needs. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Clearwire's control, which could cause actual results to differ materially and adversely from such statements. For a more detailed description of the factors that could cause such a difference, please refer to Clearwire's filings with the Securities and Exchange Commission, including the information under the headings "Risk Factors" and "Forward-Looking Statements" in our Annual Report on Form 10-K filed on March 13, 2008 and our Quarterly Report on Form 10-Q filed on May 12, 2008. Clearwire assumes no obligation to update or supplement such forward-looking statements.
