Covad Carries Sprint DSL

SANTA CLARA, Calif. -- Covad Communications (OTCBB:COVD) announced today that it has signed an agreement with Sprint (NYSE:FON, PCS) which provides Sprint with the ability to purchase wholesale DSL services. Under the agreement, Covad will provide Digital Subscriber Line (DSL) access for Sprint's business-class customers in selected markets. Sprint expects to begin placing orders for Covad services in the third quarter of 2002. The Covad-Sprint DSL agreement does not contain any volume or revenue commitments by Sprint. The agreement with Covad, a leading national broadband services provider using DSL technology, is expected to double Sprint's potential market coverage for business-class DSL services. Covad provides service in 94 of the top Metropolitan Statistical Areas (MSAs) across the United States and currently covers more than 40 million homes and businesses, which represents approximately 45 percent of all U.S. businesses. This agreement does not impact DSL sales and operations through Sprint's Local Telecommunications Division, which operates in 18 states and offers a similar service (Sprint FastConnect(R)). "Sprint is a leader in today's communications industry," said Charlie Hoffman, Covad CEO and president. "Combining our respective expertise in serving businesses will result in a powerhouse source for companies who want the best in high-speed access to enhance their business transactions. This contract is another proof-point of Covad's continuing success in the business arena and development of our wholesale channel." Covad Communications Inc. Sprint Corp.