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Business Description
Sprint FON Group (Sprint), a subsidiary of Sprint Corporation, is conducts business through a global markets division, a local division, and a product distribution and directory publishing businesses. The main activities of the global markets division include domestic and international long distance communications (except for consumer long distance services used by customers within Sprint's local franchise territories), broadband fixed wireless services and certain other ventures. The activities of the local division include local exchange communications and consumer long distance services used by customers within Sprint's local franchise territories.

Financial Information
Sprint FON Group is comprised of Sprint's wireline telecommunications operations, including long distance, local phone, product distribution and directory publishing. For the six months ended 6/30/02, revenues fell 8% to $7.99 billion. Net income before extraordinary item and applicable to Common decreased 36% to $391 million. Revenues reflect a decline in the int'l long distance business. Earnings also reflect higher operating expenses as a percentage of sales.