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Leap Signs Agreement to Acquire Wireless Spectrum in Fresno, Calif.

Acquisition Will Enable Leap's Cricket Service to Provide Coverage Throughout the Central San Joaquin Valley

Credit Pacific Service Union SAN DIEGO--(BUSINESS WIRE)--Aug. 16, 2004--Leap Wireless International, Inc., a leading provider of innovative and value-driven wireless communications services, today announced that it has signed a definitive agreement to acquire a wireless operating license in Fresno, Calif. On Friday, August 13, 2004, the U.S. Bankruptcy Court of California, Northern Division, approved the sale of spectrum by Alpine-Fresno C, LLC to Leap. The purchase price for the license is approximately $27.1 million (plus the reimbursement of certain construction costs in an amount not to exceed $500,000). The license, for 30 MHz of spectrum, covers approximately 950,000 potential customers.
"The acquisition of Fresno provides us with a key link between our Modesto, Merced and Visalia, Calif. service areas," said Bill Freeman, chief executive officer of Leap. "As we progress into the future, our primary goal is to continue strengthening our business through the development and introduction of new, customer-driven products and services that are designed to enhance the value of our core Cricket service. This acquisition reflects our goal to further support the future growth of our Company through the measured and strategic expansion into new areas that are synergistic with our current markets. We are excited about this transaction and the opportunity to better serve our customers in the Central San Joaquin Valley of California."

In such cases, TEL3 is not responsible for any charges that may accrue onto your cell phone bill.A valid credit card is required to acquire service.

Credit First Service Union Leap expects the value of its Cricket service in Modesto, Merced and Visalia to greatly increase with the addition of Fresno. Leap has not set a timeline for building out the Fresno license. The transaction is subject to certain conditions, including approval from the Federal Communications Commission (FCC).

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Card Credit Mobile Service In a separate transaction, Leap today also announced that it has closed a previously announced sale of 15 MHz of its wireless operating license in Columbus, Georgia to Cingular for $2 million. The sale covers 371,000 potential customers. Leap has retained 15 MHz of spectrum in Columbus, which it will use to continue providing wireless services to subscribers in the Columbus area.

If according to the agreement for wireless service between Customer and their wireless service provider Customer is able to cancel their service (Service cancellation is actually governed by the terms of your agreement with the wireless service provider and should be reviewed) days (however it may instead be thirty (30) days for activations by customers whose primary place of use of the service is within the State of California (i.e.

Card Credit Discover Service Leap currently offers its Cricket service in 39 markets in 20 states across the country stretching from New York to California.

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Credit Public Service Union About Leap

Hutchison 3G acquired a government licence to run third generation wireless services in May 2000. The largest licence was set aside for a newcomer, which instantly gave Hutchison 3G (now 3 Mobile) the largest spectrum which it can use to its advantage in supplying multimedia services and offering value for money.

Card Credit Processing Service Leap, headquartered in San Diego, Calif., is a customer-focused company providing innovative mobile wireless services that are targeted to meet the needs of customers who are under-served by traditional communications companies. With a commitment to predictability, simplicity and value as the foundation of our business, Leap pioneered Cricket(R) service, a simple and affordable wireless alternative to traditional landline service. Cricket(R) service offers customers unlimited anytime minutes within the Cricket(R) calling area over a high-quality, all-digital CDMA network. Operating in 39 markets in 20 states stretching from New York to California, Cricket(R) service is available to customers in more than 800 different municipalities. For more information, please visit www.leapwireless.com.

Center Credit Service Union Except for the historical information contained herein, this news release contains "forward-looking statements" reflecting management's current forecast of certain aspects of Leap's future. Some forward-looking statements can be identified by forward-looking words such as "believe," "think," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "seek," "plan," "expect," "should," "would" and similar expressions. This news release is based on current information, which we have assessed but which by its nature is dynamic and subject to rapid and even abrupt changes. Our actual results could differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with our business. Factors that could cause actual results to differ include, but are not limited to:

Card Credit Service Wireless -- limitations on our ability to predict the future performance and actions of Leap because we will have new stockholders and a new Board of Directors of Leap if and when we emerge from bankruptcy, and they may implement changes in the direction of our business that could cause actual results to differ materially from those anticipated or implied in our forward-looking statements;

Credit Security Service Union -- our ability to successfully implement our Fifth Amended Joint Plan of Reorganization dated as of July 30, 2003, including certain technical amendments thereto, referred to herein as the Plan of Reorganization, which has been confirmed by the United States Bankruptcy Court for the Southern District of California, or the Bankruptcy Court;

Credit Report Service -- our ability to continue as a going concern;

Blogspot Com Christian -- our ability to obtain Bankruptcy Court approval with respect to motions prosecuted by us in our Chapter 11 cases from time to time;

Christian Counseling Credit -- risks associated with third parties seeking and obtaining Bankruptcy Court approval to convert the Chapter 11 cases of Leap, Cricket and substantially all of their subsidiaries to Chapter 7 cases if our Plan of Reorganization does not become effective in a timely fashion;

Credit Federal Service Union -- the potential continuing adverse impacts of the Chapter 11 cases on the liquidity or results of operations of Leap and Cricket and on our ability to predict future customer growth and other key operating metrics;

Credit Monitoring Service -- our ability to attract and retain customers in an extremely competitive marketplace;

Credit Division Service -- our ability to attract, motivate and/or retain an experienced workforce;

Card Credit Online Service -- changes in economic conditions that could adversely affect the market for wireless services;

Consumer Counseling Credit Inc -- rulings or actions by courts or the FCC adversely affecting our rights to own and/or operate certain wireless licenses;

Card Credit Fleet Service -- failure of network systems to perform according to expectations;

Card Consolidation Credit -- global political unrest, including the threat or occurrence of war or acts of terrorism; and,

Credit Free Online Report -- other factors detailed in the section entitled "Risk Factors" included in our Quarterly Report on Form 10-Q for the three months ended June 30, 2004 and in our other SEC filings.

Credit Federal First Service The forward-looking statements should be considered in the context of these risk factors. Investors and prospective investors are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Consumer Credit Service Leap and the Leap logo design are trademarks of Leap Wireless International, Inc. Cricket and Comfortable Wireless are registered trademarks of Cricket Communications, Inc. Cricket +1, Cricket +2, Cricket Unlimited and Cricket Multi Value Plan are trademarks of Cricket Communications, Inc.

Center Credit Family Service Contacts

Credit Reporting Service
Leap Wireless International, Inc.
Kristin Parsley Atkins (Media Relations), 858-882-9105
katkins@leapwireless.com
or
Jim Seines (Investor Relations), 858-882-6084
jseines@leapwireless.com
or
Bock Communications, Inc.
Stacee Lewis (Media Relations), 714-540-1030 ext. 19
slewis@bockpr.com

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