Sprint Trims Global Markets Group

OVERLAND PARK, Kan. -- Sprint (NYSE: FON, PCS) today announced a series of actions in its Global Markets Group to better position the company's long-distance organization. These actions are designed to reduce operating expenses, maximize efficiencies and continue to provide industry-leading customer service while maintaining a competitive cost structure.Specifically, the Global Markets Group (GMG) will:

"We are making significant steps that will enhance our focus on meeting financial commitments and position us to meet marketplace demands for 2003 and beyond," said Len Lauer, president of Sprint's Global Markets Group. "These actions also reflect a need to better unify GMG sales teams and ensure that our valuable customers have streamlined access for total end-to-end solutions from Sprint." Lauer said reductions in the workforce and other operating-cost measures will be implemented over the next several weeks. Net of severance costs, these actions are expected to have an immaterial impact on 2002 financial results and cash requirements. Sprint Corp.