Subject: [NEXTEL-1] Nextel Works On Raising $850M For The "SCAM PLAN"

From: Marcelrf <[email-masked]>
Date: Wed, 17 Mar 2004 01:04:26 -0500

Nextel Raises Money For The "SCAM PLAN"
Solicitation For Its 9.5% Senior Serial Redeemable
Notes Due 2011
Tuesday March 16, 9:38 pm ET

RESTON, Va.--(BUSINESS WIRE)--March 16, 2004--Nextel Communications,
Inc.  (NASDAQ:NXTL - News), announced that it will commence today a cash
tender offer and consent solicitation for all of the $858,764,000
outstanding principal amount of its 9.5% Senior Serial Redeemable Notes
due 2011. The total consideration to be paid for each validly tendered
Note that is accepted for purchase will be equal to $1,142.50 per $1,000
principal amount of the Notes, plus any accrued and unpaid interest on
the Notes up to, but not including, the date of payment.

The total consideration includes a
consent payment of $30.00 per $1,000
principal amount of Notes, payable only
to holders who tender their Notes and
validly deliver their consents prior to the
expiration of the consent solicitation.
Holders who tender their Notes after the
expiration of the consent solicitation will
receive the total consideration less the
consent payment of $30.00, or
$1,112.50 per $1,000 principal amount
of the Notes.

In conjunction with the tender offer,
consents are being solicited to effect
certain proposed amendments to the
Indenture governing the Notes. Among
other things, these amendments would
eliminate substantially all of the Indenture's restrictive covenants and
would amend certain other provisions contained in the Indenture.
Adoption of the proposed amendments requires the consent of the holders
of a majority of the principal amount of the Notes outstanding. Holders
who tender their Notes will be required to consent to the proposed
amendments and holders may not deliver consents to the proposed
amendments without tendering their Notes in the tender offer.

The consent solicitation and tender offer will commence on March 16,
2004. The consent solicitation will expire at 5:00 p.m., New York City
time, on March 29, 2004, unless earlier terminated or extended. The
tender offer will expire 12:00 Midnight, New York City time, on April
13, 2004, unless earlier terminated or extended. Notes validly tendered
and not withdrawn prior to the termination of the consent solicitation
may not be later withdrawn and consents may not be revoked after the
termination of the consent solicitation. Notes tendered after the
termination of the consent solicitation may be withdrawn at any time
before the expiration of the tender offer.

Bear, Stearns & Co. Inc. is acting as the exclusive dealer manager and
solicitation agent for the tender offer and the consent solicitation.
The depositary for the tender offer is BNY Midwest Trust Company. The
tender offer and consent solicitation are being made pursuant to an
Offer to Purchase and Consent Solicitation Statement dated March 16,
2004, and a related Letter of Transmittal and Consent, which more fully
set forth the terms and conditions of the tender offer and consent
solicitation.
Questions regarding the tender offer and consent solicitation may be
directed to Bear, Stearns & Co. Inc., Global Liability Management Group
at (877) 696-2327. Requests for copies of the Offer to Purchase and
Consent Solicitation Statement and related documents may be directed to
D. F. King & Co., Inc., at (212) 269-5550.
This announcement is not an offer to purchase, a solicitation of an
offer to purchase, or a solicitation of consents with respect to the
Notes. The tender offer and consent solicitation are made solely by
means of the Offer to Purchase and Consent Solicitation Statement.

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