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NII Holdings Announces the Convertibility of Its 3 1/2% Convertible Notes Due 2033 and Its 2 7/8 % Convertible Notes Due 2034RESTON, Va., April 7 /PRNewswire-FirstCall/ -- NII Holdings, Inc. (the "Company") announced today that both its 3 1/2% Convertible Notes due 2033 and its 2 7/8% Convertible Notes due 2034 (collectively, the "Notes") issued pursuant to indentures between the Company and Wilmington Trust Company, as Trustee, dated September 16, 2003 and January 30, 2004, respectively (collectively, the "Indentures"), will be convertible pursuant to section 14.01(a)(i) of the Indentures. Holders of the Notes may convert the Notes into shares of the Company's common stock during the next fiscal quarter (April 1, 2006 until June 30, 2006) at the applicable conversion rate then in effect. NII Holdings, Inc., a publicly held company based in Reston, Va., is a leading provider of mobile communications for business customers in Latin America. NII Holdings, Inc. has operations in Argentina, Brazil, Mexico and Peru, offering a fully integrated wireless communications tool with digital cellular service, text/numeric paging, wireless Internet access and Nextel Direct Connect(R), a digital two-way radio feature. NII Holdings, Inc. trades on the NASDAQ market under the symbol NIHD. Visit the Company's website at http://www.nii.com/ . Nextel, the Nextel logo, Nextel Online, Nextel Business Networks and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. A number of the matters and subject areas discussed in this press release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally, and also may materially differ from NII Holdings' actual future experience involving any one or more of such matters and subject areas. NII Holdings has attempted to identify, in context, certain of the factors that it currently believes may cause actual future experience and results to differ from NII Holdings' current expectations regarding the relevant matter or subject area. Such risks and uncertainties include the economic conditions in our targeted markets, performance of our technologies, timely development and delivery of new technologies, competitive conditions, market acceptance of our services, access to sufficient capital to meet operating and financing needs and those that are described from time to time in NII Holdings' Annual Report on Form 10-K for the fiscal year ended December 31, 2005 and other reports filed from time to time with the Securities and Exchange Commission. This press release speaks only as of its date, and NII Holdings disclaims any duty to update the information herein. Contacts: Investor Relations: Tim Perrott (703) 390-5113 [email protected] Media Relations: Claudia E. Restrepo (786) 251-7020 [email protected] NII Holdings, Inc. CONTACT: Investor Relations, Tim Perrott, +1-703-390-5113, [email protected], or Media, Claudia E. Restrepo, +1-786-251-7020, [email protected], both of NII Holdings, Inc. Web site: http://www.nii.com/ |