Leap Announces Proposed Public Offering of 6.1 Million Shares of Common Stock

SAN DIEGO--(Business Wire)--
Leap Wireless International, Inc. (NASDAQ:LEAP) today announced that it intends
to offer and sell, subject to market and other conditions, 6.1 million shares of
its common stock in an underwritten public offering.

Leap expects to use the net proceeds of the offering for general corporate
purposes, which could include the expansion and improvement of its network
footprint, acquisitions of additional spectrum or complementary businesses and,
over the longer term, the deployment of next-generation network technology.

The offering is being made pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission. The offering of these
securities may be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which, when available, may be obtained by
contacting: Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad Street, New
York, New York 10004, fax: 212-902-9316 or email at
prospectus-ny@ny.email.gs.com.

This press release is neither an offer to sell nor the solicitation of an offer
to buy the securities and shall not constitute an offer, solicitation or sale in
any jurisdiction in which, or to any persons to whom, such an offer,
solicitation or sale is unlawful.

Leap is a registered service mark of Leap Wireless International, Inc.

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

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