BriefingRoom on Connected Planet Online

* Adjusted OIBDA Increases 43 Percent Over Prior Year Quarter
* Adds Record 1.1 Million Net New Customers in 2009
* Note: A webcast of Leap’s conference call and accompanying presentation slides will be available at 5:00 p.m. EST today at http://investor.leapwireless.com.

SAN DIEGO, Feb 25, 2010 — Leap Wireless International, Inc. (NASDAQ: LEAP), a leading provider of innovative and value-driven wireless communications services, today reported financial and operational results for the fourth quarter and year ended December 31, 2009. Service revenues for the fourth quarter increased 19.3 percent over the prior year quarter to $547.0 million. The Company reported adjusted operating income before depreciation and amortization (OIBDA) of $129.5 million for the fourth quarter, up $38.6 million over the comparable period of the prior year, and fourth quarter 2009 operating income of $4.5 million, compared to $3.8 million for the fourth quarter of 2008. Adjusted OIBDA for more

Key 2009 Highlights

Key 2009 Highlights

* CLEAR 4G in 27 Markets Across the U.S. Covering 34 Million People, including: Chicago, Dallas, Las Vegas, Atlanta, Philadelphia, Seattle and Honolulu
* Total Fourth Quarter Subscribers of 688,000 including 642,000 Retail Subscribers and 46,000 Wholesale Subscribers from Comcast, Sprint, and Time Warner Cable
* Largest Net Add Quarter in Company’s History; Fourth Quarter 2009 Retail Subscriber Growth of 87,000 Outpaced First Three Quarters Combined
* Total Subscribers in 4G Markets More than Doubled Sequentially to 438,000 at End of Fourth Quarter
* 2009 Revenue Increases 19 percent to $274.5 Million compared with Pro Forma 2008
* Raised $4.3 Billion, including $1.6 Billion of Additional Financial Support from Strategic Investors, and Refinancing of Debt which Extended Maturity to Late 2015

Additional Highlights

* Serves as 4G “Network of Networks” Through Wholesale Launches of 4G Service by Comcast, Sprint, more