SOURCE: Nextlink Wireless Inc.

August 19, 2008 08:00 ET

FCC Grants Nextlink Spectrum License Renewals

40 Licenses Renewed

HERNDON, VA--(Marketwire - August 19, 2008) - Nextlink Wireless, Inc., a leading provider of broadband wireless access solutions and a subsidiary of XO Holdings, Inc. (OTCBB: XOHO), today announced that the Federal Communications Commission (FCC) has renewed 40 of Nextlink's Local Multipoint Distribution Services (LMDS) licenses for a period of ten years or until 2018. Nextlink is one of the first LMDS license holders to have its spectrum licenses renewed by the FCC. The FCC decision to renew the Nextlink LMDS licenses follows previously announced actions by the Commission providing Nextlink with LMDS license extensions and approval of certain substantial service filings.

"The renewal of these licenses is the final step in preserving Nextlink's primary assets -- our spectrum -- while building a business to deliver a wide array of wireless access and backhaul solutions," said Robert Beran, president and CEO of Nextlink.

The FCC's actions regarding license renewals and substantial service showings combined with the recent $780 million preferred stock issuance by XO Holdings, Inc., the parent company of Nextlink, furthers Nextlink's position as the industry's leading broadband wireless provider.

About Nextlink

Nextlink, a subsidiary of XO Holdings, Inc. (OTCBB: XOHO), provides alternative access, backhaul and diverse network solutions and services for the carrier, business and government markets. As one of the nation's largest holders of fixed wireless spectrum, Nextlink delivers high-quality, carrier-grade broadband wireless solutions that scale to meet the demands of today's converged world of communications -- supporting next-generation mobile and wireline voice, data and video applications. For more information, visit www.nextlink.com.

Cautionary Language Concerning Forward-Looking Statements

The statements contained in this release that are not historical fact are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. These statements include those describing the timing and likelihood of obtaining FCC approval on the substantial service filings and license preservation generally, as well as our ability to expand our wireless networks and alternative access solutions. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of Nextlink and XO Holdings, Inc. may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, our ability to generate sufficient capital or to obtain additional financing on terms favorable to the company or at all. Other factors to consider also include the risk factors described from time to time in the reports filed by XO Holdings, Inc. with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and its quarterly reports on Form l0-Q. XO Holdings, Inc. undertakes no obligation to update any forward-looking statements, except as otherwise required by law.

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