Nextel Responds To Analyst Report

Business Wire, Oct 8, 2002

Business Editors

RESTON, Va.--(BUSINESS WIRE)--Oct. 8, 2002

In response to a JP Morgan equity research report published today, Nextel Communications, Inc. (NASDAQ: NXTL) assured investors of the appropriateness and integrity of its certified financial results on file with the Securities and Exchange Commission.

The analyst report was based upon an over-simplified model and erroneous assumptions related to the Company's churn policy and bad debt expense. The assumptions in the report do not accurately reflect Nextel's well-defined credit policies for its different credit categories, which are appropriate for its differentiated customer base. In this era of heightened concern over the accuracy of financial reporting, Nextel finds this analyst report to be misleading and reiterates that the Company's policies and methodologies are sound.

Nextel expects to report its third-quarter 2002 results on October 24, 2002, as previously scheduled.

About Nextel

Nextel Communications, a Fortune 300 company based in Reston, Va., is a leading provider of fully-integrated wireless voice and data communications services including Nextel Direct Connect(R)--the long-range digital walkie-talkie feature; high quality digital cellular services; Nextel Online(R) wireless data content and business solutions; and two-way messaging services. Nextel and Nextel Partners, Inc. have built the largest guaranteed all-digital wireless network covering 197 of the top 200 U.S. markets. Nextel's wireless voice and packet data communications services are available today in areas of the U.S. where approximately 239 million people live or work.