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NII Holdings Delivers Outstanding Performance for 2010

RESTON, Va. Feb. 24, 2011

  • Full year 2010 net subscriber additions of 1,641,000 resulting in an ending subscriber base of 9.0 million – a 22% increase over the subscriber base at the end of 2009.  Net subscriber additions of 436,000 in the fourth quarter .
  • Full year 2010 consolidated operating revenues of $ 5.6 billion – a 27% increase over 2009. Consolidated fourth quarter operating r evenues of $1.52 billion
  • Full year 2010 $1.43 billion Consolidated fourth quarter $379 million

NII Holdings full year 2010, full year 2010 $5.6 billion $1.43 billion $877 million $341 million $2.03 $876 million

fourth quarter 2010 fourth quarter of 2010 $1.52 billion $379 million $229 million $26 million $9 million Brazil $17 million

Steve Dussek Mexico Brazil

$48 $45 $286 $10

Gokul Hemmady

$2.9 billion $1.3 billion $1.1 billion $194 million $302 million $2.3 billion $600 million

2011 Outlook

The Company announced the following outlook for 2011:

  • Total net subscriber additions of approximately 1.7 million.

  • $6.6 billion

  • $1.6 billion $50 million

  • $1.6 billion

The Company’s 2011 outlook is predicated on a number of assumptions including the assumption that foreign exchange rates and general economic conditions in its markets will remain relatively stable during the year.

the United States www.nii.com

About NII Holdings, Inc.

Reston, Va. Latin America Brazil Mexico Argentina Peru Chile www.nii.com

Nextel, the Nextel logo, and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc.

December 31, 2009 December 31, 2010

NII Holdings, Inc.

1875 Explorer Street, Suite 1000

Reston, VA. 20190

(703) 390-5100

www.nii.com

Investor Relations : Tim Perrott

( 7 3 ) 390 5113

[email protected]

Media Relations: Claudia E. Restrepo

(786) 251-7020

[email protected]

NII HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS AND THREE MONTHS ENDED DECEMBER 31, 2010 AND 2009

(in millions, except per share amounts)

Year Ended

December 31,

Three Months Ended

December 31,

2010

2009

2010

2009

Operating revenues

 Service and other revenues

$  5,347.7

$  4,153.5

$  1,490.0

$  1,172.7

 Digital handset and accessory revenues

253.6

244.1

30.1

62.3

5,601.3

4,397.6

1,520.1

1,235.0

Operating expenses

 Cost of service (exclusive of depreciation and amortization included below)

1,506.0

1,225.2

415.3

363.2

 Cost of digital handset and accessory sales

723.1

623.7

181.4

151.0

 Selling, general and administrative

1,941.8

1,438.5

544.8

422.6

 Depreciation

518.8

404.1

138.8

115.1

 Amortization

34.2

29.2

10.6

7.9

4,723.9

3,720.7

1,290.9

1,059.8

Operating income

877.4

676.9

229.2

175.2

Other income (expense)

 Interest expense

(342.2)

(218.9)

(79.7)

(73.6)

 Interest income

28.8

25.6

5.0

5.9

 Foreign currency transaction gains, net

52.4

104.9

25.0

3.6

 Other expense, net

(18.7)

(2.3)

(7.3)

(6.6)

(279.7)

(90.7)

(57.0)

(70.7)

Income before income tax provision

597.7

586.2

172.2

104.5

Income tax provision

(256.6)

(204.7)

(73.6)

(44.9)

Net income

$        341.1

$          381.5

$        98.6

$          59.6

Net income per common share, basic

$   2.03

$              2.30

$         0.58

$              0.36

Net income per common share, diluted

$   1.99

$              2.27

$         0.57

$              0.35

Weighted average number of common shares outstanding, basic

168.2

166.0

169.3

166.3

Weighted average number of common shares outstanding, diluted

175.7

174.0

172.2

169.0

CONSOLIDATED BALANCE SHEET DATA

(in millions)

December 31,

December 31,

2010

2009

Cash and cash equivalents

$  1,767.5

$  2,504.1

Short-term investments

537.5

116.3

Accounts receivable, less allowance for

 doubtful accounts of $41.3 and $35.1

788.0

613.6

Property, plant and equipment, net

2,960.0

2,502.2

Intangible assets, net

433.2

337.2

Total assets

8,190.7

7,554.7

Long-term debt, including current portion

3,265.4

3,580.8

Total liabilities

4,871.1

4,807.9

Stockholders’ equity

3,319.6

2,746.8

NII HOLDINGS, INC. AND SUBSIDIARIES

OPERATING RESULTS AND METRICS

FOR THE YEAR AND THREE MONTHS ENDED DECEMBER 31, 2010 AND 2009

(UNAUDITED)

NII Holdings, Inc.

(subscribers in thousands)

Year Ended

December 31,

Three Months Ended

December 31,

2010

2009

2010

2009

Total digital subscribers (as of December 31)

9,027.5

7,384.5

9,027.5

7,384.5

 Net subscriber additions

1,641.3

1,185.0

436.1

347.0

 Churn (%)

1.66%

2.01%

1.60%

1.85%

Average monthly revenue per handset/unit in service (ARPU) (1)

$  48

$  45

$  50

$  48

Cost per gross add (CPGA) (1)

$  286

$  276

$  313

$  305

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