2008-06-21 00:04:09 -

www.leapwireless.com - Leap Wireless International, Inc. (NASDAQ:LEAP), a leading provider of innovative and value-driven wireless communications services, today announced the successful closing by its operating subsidiary, Cricket Communications, Inc., of its offer to exchange its outstanding unregistered 9.375% unsecured senior notes due 2014, which were originally issued on June 6, 2007 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, for an equal principal amount of a new issue of 9.375% unsecured senior notes due 2014 registered under the Securities Act.

The exchange offer expired at 5:00 p.m. EDT on Tuesday, June 17, 2008. During the offering period, the entire $350 million aggregate principal amount of original notes was tendered pursuant

to the exchange offer. Cricket has accepted all tendered original notes and, in exchange, has issued to former holders of original notes a like principal amount of new notes. As a result, all original notes have been cancelled.

About Leap

Leap provides innovative, high-value wireless services to a fast-growing, young and ethnically diverse customer base. With the value of unlimited wireless services as the foundation of its business, Leap pioneered its Cricket(R) service. The Company and its joint ventures operate in 29 states and hold licenses in 35 of the top 50 U.S. markets. Through its affordable, flat-rate service plans, Cricket offers customers a choice of unlimited voice, text, data and mobile Web services. Headquartered in San Diego, Calif., Leap is traded on the NASDAQ Global Select Market under the ticker symbol "LEAP." For more information, please visit www.leapwireless.com.

Leap Wireless International, Inc.
Greg Lund, Media Relations
858-882-9105
glund@leapwireless.com
or
Amy Wakeham, Investor Relations
858-882-6084
awakeham@leapwireless.com