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Business Description
Nextel Communications, Inc. provides digital mobile communications throughout the United States by offering integrated wireless services under the Nextel brand name, primarily to business users. The Company's digital mobile network constitutes an integrated wireless communications system utilizing a single transmission technology, the integrated Digital Enhanced Network (iDEN) technology, which was developed by Motorola, Inc. Customers are able to access digital mobile telephone services, such as speakerphone, conference calling, voice mail, call forwarding and additional line service; Nextel Direct Connect service, which allows subscribers in the same local calling area to contact each other instantly on a private one-to-one call or on a group call; Internet services, mobile messaging services, e-mail and advanced Java-enabled business applications, marketed as Nextel Wireless Web services, and international roaming capabilities, marketed as Nextel Worldwide.

Financial Information
NXTL provides a wide array of digital wireless communications services utilizing single transmission technology to customers throughout the U.S. For the six months ended 6/30/02, revenues rose 13% to $4.11 billion. Net loss applicable to Common fell 61% to $329 million. Revenues reflect the growth in handsets in service due to the introduction of more pricing plans. Net loss reflects the inclusion of a $264 million gain on the redemption of preferred stock.