Subject: [NEXTEL-1] Former Nextel Boss Daniel F. Akerson leaves XOXO

From: Marcel <[email-masked]>
Date: Fri, 27 Dec 2002 12:59:01 -0500

XO Communications Announces Management Transition

December 27, 2002 8:31am

RESTON, Va.--(BUSINESS WIRE)--Dec. 27, 2002--XO Communications, Inc. (OTCBB:XOXOQ)
announced
today that Daniel F. Akerson has decided to step down as Chairman and Chief Executive
Officer of the
Company following completion of XO's financial restructuring.

Mr. Akerson, who has been Chairman and
Chief Executive Officer of XO since joining the
Company in September 1999, has been the
guiding force behind the Company's
restructuring efforts over the past year that led
to the approval of the Company's previously
announced plan of reorganization last month.

Completion of the restructuring is subject to
the receipt of necessary state and federal
regulatory approvals. Mr. Akerson will continue
to serve as a consultant to XO.

Mr. Akerson is stepping down to pursue other
business interests and spend more time with
his family. "I can't begin to tell you how
pleased I am about how the XO management
team pulled together throughout the
restructuring process over the last year," said
Akerson. "Nate Davis, our President and Chief Operating Officer, and the rest of the
management team have
kept XO operationally focused allowing the Company to provide the innovative, high quality
services our
customers have come to expect. The dogged persistence of this team has resulted in the
Bankruptcy
Court's confirmation of a restructuring plan that will allow the Company to emerge from
the bankruptcy
process with a vastly stronger balance sheet, an experienced management team and
competitive products
that position the Company as a competitive force in the telecommunications industry."

Entities controlled by financier Carl C. Icahn will hold a controlling interest in the
Company upon completion
of the restructuring. "I would like to thank Dan for his tireless efforts on behalf of the
Company's
stakeholders, including its customers and employees, and compliment him on managing the
restructuring
process with skill, objectivity and integrity," said Mr. Icahn. "I have great respect for
what the Company has
been able to accomplish during the restructuring process and am confident that the XO
management
team's intimate knowledge of the Company and years of industry experience will be key to
the Company's
future."

"I am confident that I will be leaving the Company in good hands," Akerson continued. "The
operational
skills that Nate Davis and the rest of the XO team bring to the table, combined with the
financial resources
and expertise of Carl Icahn and his organization, should position XO as a formidable force
in the industry."

About XO Communications

XO Communications is a leading broadband communications service provider offering a
complete set of
communications services, including: local and long distance voice, Internet access,
Virtual Private
Networking (VPN), Ethernet, Wavelength, Web Hosting and Integrated voice and data
services.

XO has assembled an unrivaled set of facilities-based broadband networks and Tier One
Internet peering
relationships in the United States. XO currently offers facilities-based broadband
communications services
in more than 60 markets throughout the United States.

The statements contained in this release that are not historical facts are
"forward-looking statements" (as
such term is defined in the Private Securities Litigation Reform Act of 1995).

These statements include those describing the expected future operations of XO and the
expectations
regarding the outcome of the restructuring transactions and the related Bankruptcy Court
proceedings
described in this release.

Management wishes to caution the reader that these forward-looking statements are only
predictions and
are subject to risks and uncertainties and actual results may differ materially from those
indicated in the
forward-looking statements as a result of a number of factors.

These factors include, but are not limited to, risks associated with XO's ability to
complete the transactions
described in this release and those risks and uncertainties described from time to time in
the reports filed
by XO Communications with the Securities and Exchange Commission, including its Annual
Report on
Form 10-K for the year ended December 31, 2001 and in its Quarterly Report on Form 10-Q
for the quarter
ended September 30, 2002.

Other important factors that could cause actual events or results to be materially
different from the
forward-looking statements include: the ability of the Company to consummate its
stand-alone plan of
reorganization, including obtaining necessary regulatory approvals; and court approval of
motions
prosecuted by the Company from time to time in the chapter 11 case.

XO, XO Not Just Talk and the XO design logo are trademarks of XO Communications, Inc. All
other
trademarks are the property of their respective owners.

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